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Transactions: Guttery invested $80,000 in cash to start the business. Paid $3,000 for the current month's rent. Bought office furniture for $8,360 in cash. Performed
Transactions:
- Guttery invested $80,000 in cash to start the business.
- Paid $3,000 for the current month's rent.
- Bought office furniture for $8,360 in cash.
- Performed services for $4,100 in cash.
- Paid $625 for the monthly telephone bill.
- Performed services for $7,000 on credit.
- Purchased a computer and copier for $19,000; paid $6,500 in cash immediately with the balance due in 30 days.
- Received $3,500 from credit clients.
- Paid $2,000 in cash for office cleaning services for the month.
- Purchased additional office chairs for $2,900; received credit terms of 30 days.
- Purchased office equipment for $20,000 and paid half of this amount in cash immediately; the balance is due in 30 days.
- Issued a check for $4,700 to pay salaries.
- Performed services for $7,250 in cash.
- Performed services for $8,000 on credit.
- Collected $4,000 on accounts receivable from charge customers.
- Issued a check for $1,450 in partial payment of the amount owed for office chairs.
- Paid $350 to a duplicating company for photocopy work performed during the month.
- Paid $610 for the monthly electric bill.
- Guttery withdrew $4,500 in cash for personal expenses.
This is practice, I would like notes on how to make a trial balance, income statement, state of owner equity, and balance sheet using these transactions
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