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s please use the statements above to fill in the T accounts as well as the income statement and balance sheet List of business transactions
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please use the statements above to fill in the T accounts as well as the income statement and balance sheet
List of business transactions to record in a general journal Sells (Issues) $60,000 of Common Stock to shareholders for cash \begin{tabular}{|c|c|c|c|c|} \hline 2 & 1/1/2022 & Prepaid prent & 6,000 & \\ \hline & & cash & & \\ \hline \end{tabular} Pay $6,000 for 12 months of space rent starting on January 1st \begin{tabular}{|c|c|l|l|l|l|} \hline 3 & 1/1/2022 & supplies & 2,500 & \\ \hline & & \multicolumn{1}{|c|}{ account payable } & \\ \hline & & Purchases supplies worth $2,500 on account & \\ \hline 4 & 1/1/2022 & Building & Notes Payable & 600,000 & \\ \hline & & cash & & 2000 \\ \hline \end{tabular} Company purchases a building borrowing from the bank by signing a note payable for $580,000 at 6% annual interest and in addition the Company also pays an additional $20,000 down payment to the seller \begin{tabular}{|l|c|c|c|c|} \hline 5 & 1/15/2022 & accounts reciavable & 30,000 & \\ \hline & & Service revinue & 30,000 \\ \hline \end{tabular} Provides services for $30,000 on account due in 30 days \begin{tabular}{|l|c|c|c|c|} \hline 6 & 1/18/2022 & cash & 4,000 & \\ \hline & & Unearned service Revinue & & \\ \hline \end{tabular} Schedules a service to be performed at a future date for a customer. Receives the $4,000 in advance from the customer on this date Purchases equipment worth $6,000 on a one year 8% note payable Ainh Income Statement Revenues Expenses \begin{tabular}{|l|l|l|l|l|l|l|l|l|l|l|l||} \hline T & \multicolumn{2}{|c|}{ Cost of Goods Sold } & T & T & \multicolumn{2}{|c|}{ Supplies Expense } & T & T & \multicolumn{2}{|c||}{ Loss } & T \\ \hline & & & & & & & & & & \\ \hline & & & & & & & & & & \\ \hline B & & & & & & & & & & \\ \hline EB & & & B & B & & & B & B & & & B \\ \hline & & & EB & & & EB & & & \\ \hline T & Salaries Expense & T & T & Utilities Expense & T & T & Misc. Expense & T \\ \hline & & & & & & & & & & \\ \hline & & & & & & & & & & & \\ \hline B & & & & & & & & & & \\ \hline B & & & B & B & & & B & B & & & B \\ \hline EB & & EB & & & EB & & & \\ \hline \end{tabular} YOU MUST ENTER YOUR TOTALS BELOW TO RECEIVE ANY POINTS FOR YOUR T ACCOUNT POSTINGS! Be sure to have included your Income Tax adjustment after calcuating the Income before tax net income Check Input Totals List of business transactions to record in a general journal Sells (Issues) $60,000 of Common Stock to shareholders for cash \begin{tabular}{|c|c|c|c|c|} \hline 2 & 1/1/2022 & Prepaid prent & 6,000 & \\ \hline & & cash & & \\ \hline \end{tabular} Pay $6,000 for 12 months of space rent starting on January 1st \begin{tabular}{|c|c|l|l|l|l|} \hline 3 & 1/1/2022 & supplies & 2,500 & \\ \hline & & \multicolumn{1}{|c|}{ account payable } & \\ \hline & & Purchases supplies worth $2,500 on account & \\ \hline 4 & 1/1/2022 & Building & Notes Payable & 600,000 & \\ \hline & & cash & & 2000 \\ \hline \end{tabular} Company purchases a building borrowing from the bank by signing a note payable for $580,000 at 6% annual interest and in addition the Company also pays an additional $20,000 down payment to the seller \begin{tabular}{|l|c|c|c|c|} \hline 5 & 1/15/2022 & accounts reciavable & 30,000 & \\ \hline & & Service revinue & 30,000 \\ \hline \end{tabular} Provides services for $30,000 on account due in 30 days \begin{tabular}{|l|c|c|c|c|} \hline 6 & 1/18/2022 & cash & 4,000 & \\ \hline & & Unearned service Revinue & & \\ \hline \end{tabular} Schedules a service to be performed at a future date for a customer. Receives the $4,000 in advance from the customer on this date Purchases equipment worth $6,000 on a one year 8% note payable Ainh Income Statement Revenues Expenses \begin{tabular}{|l|l|l|l|l|l|l|l|l|l|l|l||} \hline T & \multicolumn{2}{|c|}{ Cost of Goods Sold } & T & T & \multicolumn{2}{|c|}{ Supplies Expense } & T & T & \multicolumn{2}{|c||}{ Loss } & T \\ \hline & & & & & & & & & & \\ \hline & & & & & & & & & & \\ \hline B & & & & & & & & & & \\ \hline EB & & & B & B & & & B & B & & & B \\ \hline & & & EB & & & EB & & & \\ \hline T & Salaries Expense & T & T & Utilities Expense & T & T & Misc. Expense & T \\ \hline & & & & & & & & & & \\ \hline & & & & & & & & & & & \\ \hline B & & & & & & & & & & \\ \hline B & & & B & B & & & B & B & & & B \\ \hline EB & & EB & & & EB & & & \\ \hline \end{tabular} YOU MUST ENTER YOUR TOTALS BELOW TO RECEIVE ANY POINTS FOR YOUR T ACCOUNT POSTINGS! Be sure to have included your Income Tax adjustment after calcuating the Income before tax net income Check Input TotalsStep by Step Solution
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