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Please label each part thanks The following transactions are June activities of CJ Entertainment which operates several virtual reality arcades. Also, in addition to the
Please label each part thanks
The following transactions are June activities of CJ Entertainment which operates several virtual reality arcades. Also, in addition to the virtural reality games offered it also has a shop that sells t-shirts and other merchandise. e. CJ sold merchandise to customers costing CJ $4,390. [Consider only the effect on cost of goods sold part of the event here. Do not consider the sales revenue part of this event for this question. f. CJ paid $2,900 for the electricity bill for May and recorded the expense in May. g. CJ paid $2,900 for labor worked in June. h. CJ purchased $3,300 of insurance for coverage from July 1 to Oct 1. 1. CJ paid $3,200 to an electrician to repair an electrical issue. j. CJ received the June electricity bill for $2,900 that will be paid in July. For each of the above transactions, complete the tabulation, indicating the amount and effect (+ for increase and - for decrease) of each transaction. (Remember that A = L + SE; R-E = NI; and NI affects SE through Retained Earnings.) The first transaction is provided as an example. (Reductions in account balances and loss amounts should be indicated with a minus sign.) Balance Sheet Income Statement Assets Liabilities + Revenues Expenses Net Income Stockholders' Equity (4,390) e. (4,390) 4,390 (4,390) f. g. h. i. jStep by Step Solution
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