Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The following was happening in the C.C.C company: 1-Company invests 76,000 of its own money to start the business. 2- purchases Equipment by 8,500 companies
The following was happening in the C.C.C company:
1-Company invests 76,000 of its own money to start the business.
2- purchases Equipment by 8,500 companies paid 20% cash and will pay another next month.
3- Paid by cash 200 for electric, 1,100 for rent, and 320advertising.
4- Bought office supplies by 500 on the account.
5- Earns service revenue amount 2,400 receive 60%cash and other after one month.
6- Borrow 1200 from the bank and deposited in the treasury of the company
7- Purchased furniture by cash 1,300.
8-Received 600 cash from the debtor according to the transaction (5).
9- Paid 4000 to the creditor according to the transaction (2)
So please prepare:
1- Journal entries. (7Marks)
2- Ledgers. (8Marks)
3- Trial Balance. (3 Marks)
4-Income statements. (2 Mark)
5- Owner Equities.(2 Mark)
6-Balance sheet. (3 Marks)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started