Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

This problem is based on the transactions for the Comic Stand Company in your text. Prepare your restereacodes Identify the financial statement impact of each

image text in transcribed
image text in transcribed
This problem is based on the transactions for the Comic Stand Company in your text. Prepare your restereacodes Identify the financial statement impact of each entry. The financial statements are automatically generated based on tsende recorded December 1 on December 1, Brian loan fors consulting batan, and Conic Stand. Come Back from Bries Alous as an aver contribution. December 2 conie Stand pays $3,600 us for appliu. The company's policy is to rent all perai Cots. December 3 Conie Stand pays $36,000 cash for equipment. Deceb Conie Stand purchases $3,000 of supplies en credit troller, City December 5 Conie Stand provides consulting services de collects $5.916 cm. Decebe 6 Comic Stand pays $2,100 cash for December rent. December 7 Conie Stand pays $1,800 cash for employee salary, December 3 Conie Stand provides consulting services et $2,700 treta its test tellities to $1,101. The billed 54,100 for these services. December 9 Conie Stand receives $4,100 cash from the client alled on December 1. December 10 Comic Sess pays Caltech Supply 52,000 cash as partial put for its December 31.100 puctus et supplies. December 11 aria sloas vithdrevs 5500 cash tron Conde stand for personale December 12 Conie Stand receives $3,300 cash in advance of providing climate to customer. De policy is to record feet collected in case is baie stert account December 13 Conde Stand pays $3,500 cut insurance presica) for 1 2-sotth Insurance policy. Comapedaglu December 1. The company's policy is to record all great expenses it baie text account December 14 Conie Stand pays $1,220 cash for supplies. December 15 Conie Stand pays $1,405 case for December etilities pense. December 26 Comic Seard pays $1,250 cand is emplope salary for work performed in the latter part of iceber. home Sement Banat Sheet Statement Owners Epub Trial Balance Geners Ledger General Journal Requirement - General Journal Tab - For each transaction, prepare the required journal entry on the General Journal an. List die before credits General Ledger Tab - One of the advantages of general ledger software that posting is done tomatically. To see the detail of all transactions that affect a specific account or the balance in an account at a specific porta mediante General Ledger ta Trial Balance Tab - General ledger software also automates the preparation of trial balances. A balance its each account from the General Ledger, along with is balance, ether a debt or a credit. Total debts stood away and to creditor Income Statement Tab. The revenue and expense balances from the trainince appear on the home statement along with their balance as of the date selected. Review the income statement and indicate how the income statements 45 Next > (Prey linked to the other financial statements AMOKAT December 5 Comic Stand provides consulting services and imediately collects 15.11 December 6 Comic Stand pays $2,100 cash for December rent. December 7 Comic Stand pays $1,800 cash for employee salary. December 8 Comic Stand provides consulting services of $2,700 and tests its test facilities to 11, billed $4,100 for these services. December 9 Comic Stand receives $4,100 cash from the client billed on December December 10 Comic Stand pays CalTech Supply $2,000 cash a partial paynett for its December 17,211 supplies. December 11 Brian Aloan withdraws $500 cash from Conde stand for personalist December 12 Comic Stand receives $3,300 cash in advance of providing coating sertion to policy is to record fees collected in advance to a balance sheet cat December 13 Comic Stand pays $3,500 cash insurance pranium) for a 2-es capelley. Cabe December 1. The company's policy is to record all prepaid is als het wat December 14 Comic Stand pays $1,220 cash for supplies. December 15 Conic Stand pays $1,405 cash for December utilities expose December 16 Comic Stand pays $1,250 cash in employee salary for work performed in the latter part de Income Balance Sheet General Journal General Ledger Statement Trial Balance Statement Owners Equity Requirement General Journal Tab - For each transaction, prepare the required journal entry on the General Jumala before credits. General Ledger Tab - One of the advantages of general ledger software is that posting is one anomatically. To set the detail of all transactions that affect a specific account, or the balance in an account at a specific point in time date General Ledger tab. Trial Balance Tab - General ledger software also automates the preparation of trial balonces. A tralance account from the General Ledger, along with its balance, ether a debt era credit Total debts should you credits Income Statement Tab - The revenue and expense balances from the trial balance appear on the meet along with their balance as of the date selected. Review the income statement and indicats how the income tants linked to the other financial statements. Statement of Owner's Equity Tab - Owner investments and withdrawals, as reported on the trace the statement of owner's equity. Review the statement of owner's equity and indicate how the statement of anys linked to the other financial statements. Balance Sheet Tab - Each asset and liability account balance, as reported on the trial balance, appears on the balance sheet, along with the ending capital balance. Review the balance sheet and then indicate how the branches inter the other financial statements. General Journal Next > This problem is based on the transactions for the Comic Stand Company in your text. Prepare your restereacodes Identify the financial statement impact of each entry. The financial statements are automatically generated based on tsende recorded December 1 on December 1, Brian loan fors consulting batan, and Conic Stand. Come Back from Bries Alous as an aver contribution. December 2 conie Stand pays $3,600 us for appliu. The company's policy is to rent all perai Cots. December 3 Conie Stand pays $36,000 cash for equipment. Deceb Conie Stand purchases $3,000 of supplies en credit troller, City December 5 Conie Stand provides consulting services de collects $5.916 cm. Decebe 6 Comic Stand pays $2,100 cash for December rent. December 7 Conie Stand pays $1,800 cash for employee salary, December 3 Conie Stand provides consulting services et $2,700 treta its test tellities to $1,101. The billed 54,100 for these services. December 9 Conie Stand receives $4,100 cash from the client alled on December 1. December 10 Comic Sess pays Caltech Supply 52,000 cash as partial put for its December 31.100 puctus et supplies. December 11 aria sloas vithdrevs 5500 cash tron Conde stand for personale December 12 Conie Stand receives $3,300 cash in advance of providing climate to customer. De policy is to record feet collected in case is baie stert account December 13 Conde Stand pays $3,500 cut insurance presica) for 1 2-sotth Insurance policy. Comapedaglu December 1. The company's policy is to record all great expenses it baie text account December 14 Conie Stand pays $1,220 cash for supplies. December 15 Conie Stand pays $1,405 case for December etilities pense. December 26 Comic Seard pays $1,250 cand is emplope salary for work performed in the latter part of iceber. home Sement Banat Sheet Statement Owners Epub Trial Balance Geners Ledger General Journal Requirement - General Journal Tab - For each transaction, prepare the required journal entry on the General Journal an. List die before credits General Ledger Tab - One of the advantages of general ledger software that posting is done tomatically. To see the detail of all transactions that affect a specific account or the balance in an account at a specific porta mediante General Ledger ta Trial Balance Tab - General ledger software also automates the preparation of trial balances. A balance its each account from the General Ledger, along with is balance, ether a debt or a credit. Total debts stood away and to creditor Income Statement Tab. The revenue and expense balances from the trainince appear on the home statement along with their balance as of the date selected. Review the income statement and indicate how the income statements 45 Next > (Prey linked to the other financial statements AMOKAT December 5 Comic Stand provides consulting services and imediately collects 15.11 December 6 Comic Stand pays $2,100 cash for December rent. December 7 Comic Stand pays $1,800 cash for employee salary. December 8 Comic Stand provides consulting services of $2,700 and tests its test facilities to 11, billed $4,100 for these services. December 9 Comic Stand receives $4,100 cash from the client billed on December December 10 Comic Stand pays CalTech Supply $2,000 cash a partial paynett for its December 17,211 supplies. December 11 Brian Aloan withdraws $500 cash from Conde stand for personalist December 12 Comic Stand receives $3,300 cash in advance of providing coating sertion to policy is to record fees collected in advance to a balance sheet cat December 13 Comic Stand pays $3,500 cash insurance pranium) for a 2-es capelley. Cabe December 1. The company's policy is to record all prepaid is als het wat December 14 Comic Stand pays $1,220 cash for supplies. December 15 Conic Stand pays $1,405 cash for December utilities expose December 16 Comic Stand pays $1,250 cash in employee salary for work performed in the latter part de Income Balance Sheet General Journal General Ledger Statement Trial Balance Statement Owners Equity Requirement General Journal Tab - For each transaction, prepare the required journal entry on the General Jumala before credits. General Ledger Tab - One of the advantages of general ledger software is that posting is one anomatically. To set the detail of all transactions that affect a specific account, or the balance in an account at a specific point in time date General Ledger tab. Trial Balance Tab - General ledger software also automates the preparation of trial balonces. A tralance account from the General Ledger, along with its balance, ether a debt era credit Total debts should you credits Income Statement Tab - The revenue and expense balances from the trial balance appear on the meet along with their balance as of the date selected. Review the income statement and indicats how the income tants linked to the other financial statements. Statement of Owner's Equity Tab - Owner investments and withdrawals, as reported on the trace the statement of owner's equity. Review the statement of owner's equity and indicate how the statement of anys linked to the other financial statements. Balance Sheet Tab - Each asset and liability account balance, as reported on the trial balance, appears on the balance sheet, along with the ending capital balance. Review the balance sheet and then indicate how the branches inter the other financial statements. General Journal Next >

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Principles Of Accounting Volume 1 Financial Accounting

Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax

1st Edition

1593995946, 978-1593995942

More Books

Students also viewed these Accounting questions

Question

What should Sheila have done to avoid interviews like this one?

Answered: 1 week ago