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please show how you solved. ex formulans for how you got thr amounts thats belong in credits and debits Karen Noonan opened Splish Brothers Sweep
please show how you solved. ex formulans for how you got thr amounts thats belong in credits and debits
Karen Noonan opened Splish Brothers Sweep Inc. on February 1, 2022. During February, the following transactions were complete Feb. 1 Issued 6,000 shares of Splish Brothers Sweep common stock for $15,600. Each share has a $1.40 par. 1 Borrowed $9,000 on a 2-year, 6% note payable. 1 Paid $9,260 to purchase used floor and window cleaning equipment from a company going out of business ($5,060 was for the floor equipment and $4,200 for the window equipment). 1 Paid $340 for February Internet and phone services. Purchased cleaning supplies for $980 on account. 4 Hired 4 employees. Each will be paid $520 per 5-day work week (Monday-Friday). Employees will begin working Monday, February 9. 5 Obtained insurance coverage for $9,720 per year. Coverage runs from February 1, 2022, through January 31, 2023. Karen paid $2,430 cash for the first quarter of coverage. 5 Discussions with the insurance agent indicated that providing outside window cleaning services would cost too much to insure. Karen sold the window cleaning equipment for $3,930 cash. 16 Billed customers $4,400 for cleaning services performed through February 13, 2022. 17 Received $504 from a customer for 4 weeks of cleaning services to begin February 21, 2022. (By paying in advance. this customer received 10% off the normal weekly fee of $140.) 18 Paid $320 of amount owed on cleaning supplies. 20 Paid $3 per share to buy 350 shares of Splish Brothers Sweep common stock from a shareholder who disagreed with management goals. The shares will be held as treasury shares. 23 Billed customers $4,300 for cleaning services performed through February 20 24 Paid cash for employees' wages for 2 weeks (February 9-13 and 16-20). 25 Collected $2,500 cash from customers billed on February 16. Paid $340 for Internet and phone services for March 3 27 Date Feb. 1 Feb. 1 Feb. 1 Feb. 1 Feb. 3 Feb 4 Account Titles and Explanation Cash Common Stock Paid-in Capital in Excess of Par-Common Stock Cash Debit 10000 Credit Feb. 5 Feb, S Feb. 16 Feb. 17 Feb. 18 Feb. 20 Feb. 23 V 00000000 Feb. 23 v Feb. 24 v Feb. 25 v Feb. 27 eTextbook and Media List of Accounts Save for Later Attempts: 1 of 3 used Submit Step by Step Solution
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