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Required information [The following information applies to the questions displayed below.] Nicole has decided that she is going to start her business, Nicole's Getaway
Required information [The following information applies to the questions displayed below.] Nicole has decided that she is going to start her business, Nicole's Getaway Spa (NGS). A lot has to be done when starting a new business. Here are some transactions that have occurred prior to April 30. a. Received $91,000 cash when issuing 9,100 new common shares. b. Purchased land by paying $5,000 cash and signing a note payable for $9,000 due in three years. c. Hired a new aesthetician for a salary of $2,100 a month, starting next month. d. NGS purchased a company car for $29,000 cash (list price of $32,000) to assist in running errands for the business. e. Bought and received $1,000 in supplies for the spa on credit. f. Paid $200 of the amount owed in (e). g. Nicole sold 100 of her own personal shares to Raea Gooding for $600. 3. Prepare a classified balance sheet at April 30 using the information given in the transactions. Include Retained Earnings with a zero balance. NICOLE'S GETAWAY SPA Balance Sheet $ 0 0 0 $ 0
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