This is for hospitality accounting the written t account from my notebook I cannot figure out the equal amount. My classmates can't either. Please help im lost.
Account Review Assignment: Danny's Irish Pub and Grub has opened up in January, a local eatery and Irish Micro Brewery (Still waiting for his Liquor License) in the area. The owner, Danny has asked you to complete some basic accounting transactions, since he knows you have a great deal of knowledge in Financial and Hospitality Accounting. He kept all the transactions in a folder for you to figure it out. Below is the contents of the folder (Total 20 point assignment, in ten point segments) Prepare the business account entries from journalizing, posting and completion of unadjusted trial balance: Journalizing should include transaction, reference number/account number, debit, credit and description of entry. Follow the accounting trail from journalizing to posting to the completion of the unadjusted trial balance. Use the current end of month date for transactions. 1. Invested $40,000 of personal cash into business. 2. Borrowed $24,000 from the bank (note payable). 3. Purchased furniture and equipment for $54,000, paying $34,000 cash and owing the balance on account. 4. Purchased Food on credit $16,400. 5. Paid the first month's rent of $2,000. 6. Revenues and sales during the month: $80,900, $40,400 was received in cash and the balance is still owed (receivable). 7. Paid $14,000 on accounts payable for furniture and equipment and $6,000 on accounts payable for food. 8. Paid $1,400 for $1,200 on note payable and the balance on interest expense. 9. Paid wages (cash for payroll checks) $21,800. Required to prepare and submit an Unadjusted Trial Balance with the name of the business, date and statement name. See exhibit 2-10 (p76) in textbook. Hint it must balance! (10 points) Even though the adjusting entries were not completed, does it appear that Danny's Irish Pub earn a profit in the first month of operations? Two sided, see back side. H. W cash lol CR 08H0,000 $34 000 28 24,000 182 000 6 $ 40400929,000 & g $21,800 104,4001979,200 $ 75,200 200 Name of Bus Account Review Assignment: Danny's Irish Pub and Grub has opened up in January, a local eatery and Irish Micro Brewery (Still waiting for his Liquor License) in the area. The owner, Danny has asked you to complete some basic accounting transactions, since he knows you have a great deal of knowledge in Financial and Hospitality Accounting. He kept all the transactions in a folder for you to figure it out. Below is the contents of the folder (Total 20 point assignment, in ten point segments) Prepare the business account entries from journalizing, posting and completion of unadjusted trial balance: Journalizing should include transaction, reference number/account number, debit, credit and description of entry. Follow the accounting trail from journalizing to posting to the completion of the unadjusted trial balance. Use the current end of month date for transactions. 1. Invested $40,000 of personal cash into business. 2. Borrowed $24,000 from the bank (note payable). 3. Purchased furniture and equipment for $54,000, paying $34,000 cash and owing the balance on account. 4. Purchased Food on credit $16,400. 5. Paid the first month's rent of $2,000. 6. Revenues and sales during the month: $80,900, $40,400 was received in cash and the balance is still owed (receivable). 7. Paid $14,000 on accounts payable for furniture and equipment and $6,000 on accounts payable for food. 8. Paid $1,400 for $1,200 on note payable and the balance on interest expense. 9. Paid wages (cash for payroll checks) $21,800. Required to prepare and submit an Unadjusted Trial Balance with the name of the business, date and statement name. See exhibit 2-10 (p76) in textbook. Hint it must balance! (10 points) Even though the adjusting entries were not completed, does it appear that Danny's Irish Pub earn a profit in the first month of operations? Two sided, see back side. H. W cash lol CR 08H0,000 $34 000 28 24,000 182 000 6 $ 40400929,000 & g $21,800 104,4001979,200 $ 75,200 200 Name of Bus
