Question
Suppose Risky Company paid $9,000 to rent a warehouse for 3 months, beginning on November 1, 2020, the date of the payment. Provide the entries
Suppose Risky Company paid $9,000 to rent a warehouse for 3 months, beginning on November 1, 2020, the date of the payment. Provide the entries in terms of the accounting equation for 12/31/2020 as well.
Suppose that on March 1st, 2020, Risky Company had no supplies on hand. During the month, Risky purchased $500 worth of supplies. On March 31, Risky determines that it has $150 worth of supplies left in the supply closet.
Required:
-Enter each transaction for the date specified in terms of the accounting equation, in the table provided.
-then, directly below each table, enter the transaction in terms of debits and credits.
3. Suppose Risky Company paid $9,000 to rent a warehouse for 3 months, beginning on November 1, 2020, the date of the payment Date Assets Liabilities Owner's Equity Con Cap Retained Earnings 11/01/20 = 12/31/20 4. Suppose that on March 1st, 2002, Risky Company had no supplies on hand. During the month, Risky purchased $500 worth of supplies. On March 31, Risky determines that it has $150 worth of supplies left in the supply closet. + Date Assets = Liabilities Owner's Equity Con Cap Retained Earnings 03/01/20 03/31/20Step by Step Solution
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