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what's the general journal, general ledger, trial balance, income statement, and balance sheet? Unit 1 CPT: Analyzing Transactions, The Journal, Ledger, Trial Balance, Income Statement
what's the general journal, general ledger, trial balance, income statement, and balance sheet?
Unit 1 CPT: Analyzing Transactions, The Journal, Ledger, Trial Balance, Income Statement \& Balance Sheet Task. Below is a list of transactions for Spinelli Accounting Services inc. Record each transaction in the General Journal and post them to the General Ledger. Once completed take a Trial Balance and prepare an Income Statement and a Balance Sheet. I have provided templates for you in Google Sheets. Transactions 1 On January 15t, J. Spinelli invests $20000 cash and an automobile vatued at $25000 in a company called Spinell Accounting Services inc 2. On January 3rd performed an accounting service for a client for $1000 cash 3. Company purchased supplies for 5400 on Jantary 5 th 4 On January 7th performed accounting services for Madonna Enterprises totalling 5500 . Madonna Enterprises pays $250 now and the balance is on account 5 On Jabuary 12 th the company performs inother service for $1000 and receives $500 in cash and the balance payable on account 6. On danuary 15 th the company pays $1500 for rent for three months: of which $500 is for the month of January 7 On Jenuary 18th, the owner withdraws 51000 for peroonal use 8. The company pays to advertise the business on January 20 th for the amount of $3000. The advertisement is to run for the e months including the month of Janysty 9. The company bought a computer on credit for $500 on January 21 st 10. On January 22 nd, the company buys a vacant lot of land for $10000,$5000 was paid in cash and the rest on a loan 11. Received payment on January 23 rd for $250 on account 12. The company purchased computer equipment for $1000 on account on January 25 th: 13. The owner uses $50 to pay for gas for the company car on January 28 th 14. On January 30 th, received $200 on account 15. On January 31st. the company pays oft 51000 of the loan from the purchase of the land on January 22 nd 16 On January 31 st the company recelved 53000 in cash for accounting services to be performed the following three month 5 Step by Step Solution
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