Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

***Please if you can fill in the blanks from 1.9 problem, and do it on excel, thank you very much, on another page if you

***Please if you can fill in the blanks from 1.9 problem, and do it on excel, thank you very much, on another page if you can explain how you got it

1.9 Summary financial data of the Rag time Band Co. for October are presented below in transaction form.

(1) Began operations by depositing $22,00 business bank account.

(2) Purchased muscial equipment for $10,000, paying $4,000 in cash with the balance on account.

(3) Purchased supplies for cash, $500.

(4) Cash income received for muscial engagment, $3,000.

(5) Paid salaries for the month $1,200.

(6) Paid general expenses, $600.

(7) Paid $1,000 on account (see transaction 2) .

(8) The inventory of supplies on hand at the end of the month was $200. Record the transactions and running balances below.

Assets = Liabilities + Capital

Cash + Supplies + Equipment Accounts Payable Rag Time Co.

(1)

(2) _ _ _ _

Balance =

(3) _ _ _ _ _

Balance =

(4) _ _ _ _ _

Balance =

(5) _ _ _ _ _

Balance =

(6) _ _ _ _ _

Balance =

(7) _ _ _ _ _

Balance =

(8) _ _ _ _ _

Balance =

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Shariah Audit Framework A Case Study Of UAE Noor Takaful Operations

Authors: Abdussalam Ismail Onagun

1st Edition

3659644064, 978-3659644061

More Books

Students also viewed these Accounting questions