Question
Transactions : Oct. 2. Magnusson began the company with an investment of $52,000 cash and a food truck valued at $32,000 . The business gave
Transactions :
Oct. 2. Magnusson began the company with an investment of $52,000 cash and a food truck valued at $32,000 . The business gave Magnusson owner's equity in the business.
6.Paid $ 9,600 cash for custom food service equipment .
7 Purchased supplies on account , $15,000 .
17 Received $ 4,400 cash for a catering at a street festival .
18 Catered to bands at a music festival and received payment on account , $9,800 .
19. Paid employees ' salaries for work on weekend , $3,300 cash.
24 Paid $11,600 cash as a partial payment for the supplies purchased on October 7.
26 Received a $ 3, 200bill for advertising expense that will be paid in the near future .
28 Received cash on account , S3,000 . Paid the following expenses with two separate cheques :
29 1. BBQ rental , $4,200 . 2. Insurance , $ 2,400 .
31 Magnusson withdrew \$20,000 cash for personal use.
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