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please solve all parts in detail After several months of planning, Jasmine Worthy started a haircutting business called Expressions. The following events occurred during its
please solve all parts in detail After several months of planning, Jasmine Worthy started a haircutting business called Expressions. The following events occurred during its first month. a. On August 1, Worthy invested $3,000 cash and $15,000 of equipment in Expressions. b. On August 2, Expressions paid $600 cash for furniture for the shop. c. On August 3, Expressions paid $500 cash to rent space in a strip mall for August. d. On August 4, it purchased $1,200 of equipment on credit for the shop (using a long- term note payable). e. On August 5, Expressions opened for business. Cash received from haircutting services in the first week and a half of business (ended August 15) was $825. f. On August 15, it provided $100 of haircutting services on account. g. On August 17, it received a $100 check for services previously rendered on account. h. On August 17, it paid $125 to an assistant for hours worked during the grand opening. i. Cash received from services provided during the second half of August was $930. j. On August 31, it paid a $400 installment toward principal on the note payable entered into on August 4. k. On August 31, Worthy withdrew $900 cash for personal use. Q1 Open the following ledger accounts in balance column format: Cash; Accounts Receivable; Furniture; Store Equipment; Note Payable; Capital; Withdrawals; Services Revenue; Wages Expense; and Rent Expense. Prepare general journal entries for the transactions Q2 Prepare T-accounts. Q3 Prepare Trail Balance as of August 31
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