Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please include the journal entries from transaction 1 to transaction 32. Along with the adjusting entries. From a to i. Please refer to the following

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Please include the journal entries from transaction 1 to transaction 32. Along with the adjusting entries. From a to i.
Please refer to the following pictures attached above to complete the assignment. And the chart of accounts is attached at the end.
Part One, Two and Three Instructions Record the September 2018 transactions in the general journal (last section of this practice set) using the following events. Skip a line between each entry and number the entries to match the number of the transaction. In the general journal record the transaction number, the date, and the account numbers. After all journal entries are entered into the practice set, enter the adjusting journal entries. Next, create a T-Account for each account that is used in the Chart of Accounts and record the transactions and end with an ending balance. All ending balances should be on the normal balance side even if the account has a zero balance. If there is a number that is uneven round to the nearest cent. You will need the ending balance in the cash account for the bank reconciliation. All instructions for Blackboard start on page 9 Transactions Date Deposit No. Description Check No 1. 9/02/18 Bailey Boone met with her lawyer and CPA for advice on starting the business. They decided that Ms. Boone would organize the business as a corporation. The lawyer told Ms. Boone to register the company name, Bailey's Balloon Bouquet, with the County of El Paso. In addition, Ms. Boone will get an employer identification number (EIN) from the Internal Revenue Service and get a sales tax permit from the state of Texas. The lawyer agreed to prepare the Articles of Incorporation to be filed with the Secretary of State of Texas. The CPA has agreed to help Ms. Boone set up her accounting system. 2. | 9/02/18 | Deposit #1 | Ms. Boone opened a business checking account at Wells Fargo Bank by depositing the personal check she gave her company for $20,000. The corporation issued her a stock certificate for 1,000 shares of common stock with $1 par value Ms. Boone signed a one-year rental agreement with Reynolds Realtors for shop space. She was required to pay $2,400 for rent for the months of September 1, 2018- December 31, 2018 3. 9/03/18 ck #1001 4.1 9/03/18 | ck #1002 | Arranged for a general business liability insurance policy and paid $2,800 to State Penn Insurance. This premium is for six months coverage Purchased a new register/computer system that cost $3,600 from Office Mart for use in the business. Ms. Boone signed a six-month, 12% installment note payable for the cost of the system. The 5. 9/03/18

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_2

Step: 3

blur-text-image_3

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

Accounting Principles Volume 1

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak

9th Canadian Edition

978-1119786818, 1119786819

More Books

Students also viewed these Accounting questions

Question

discuss what an intervention is in relation to work psychology;

Answered: 1 week ago

Question

How are values illustrated in the case?

Answered: 1 week ago

Question

Describe S. Truett Cathys self-concept and self-efficacy.

Answered: 1 week ago