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Step hanie Malave decides to operate Risky Sp ort Adventure as a proprietorship. She starts the bussiness in March 2022. The following activities took place.
Step hanie Malave decides to operate "Risky Sp ort Adventure" as a proprietorship. She starts the bussiness in March 2022. The following activities took place. 1-mei Mrs. Melev receives from his mother \& gift of $2,500 which she dep osits in hei personel benk eccount. 3 She opens a benk account undei the neme "Risky Sp oit Adventure" and trensfers $2,000 from heir personel account to the new eccount. 7 Stephenie p oid $275 to edvertise in the locel news of his town. 10 She buys supplies for $1,500, prying helf in cash and the remeinder on eccount. 12 Stephenie mede an additionel investment of $10,000 in cash, $1,900 in s comp utei and a printer and $12,000 in equipment. 14 She pays $2,800 for a one-yesi insurence p olicy that will expire on merch 1,2023 . 15 Stephenie books in adventure for March 20 for $6,000. She receives 20% in advance as a downp syment. 16 Mrs. Malev books a second adventure for April 15 for $7,800. She receives the full amount in advance as a downp ayment. 20 Stephanie made the first adventure. 22 Stephanie withdraw $1,500 for personel use. 23 Stephanie p aid salary of $250 for an emp loyee that sign the contract last week, 25 The owner buys a van foi $35,000 issuing a note. Instructions (a) Prepare journel entries to recoid the March transections. Value 100pts. (b) Post the journal entries to general ledger accounts. Value 100pts. (c) Prepare a triel belance at Marchi 30 . Value 41pts. (d) Prepare an Income Statement. Value 29pts. (c) Prepare a Owner's Equity Statement. Value 30pts. (f) Prepare a Balance Sheet. Value 40pts
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