Question
-- You and your business partners organized the business and collectively invested a total of $60,000 in exchange for common stock --Your organization takes a
--You and your business partners organized the business and collectively invested a total of $60,000 in exchange for common stock
--Your organization takes a loan of $40,000 from the Green Mountain Bank & Trust to cover initial start-up expenses and to purchase beginning inventory. The annual interest rate on the loan is 8%.
--Retail shelving and other store equipment were purchased for a total of 25,000 from Petes Equipment Warehouse. You paid $10,000 cash with the balance due in 30 days
--You purchased $3,000 in office and store supplies in cash from Office Depot that should last into November.
--You paid rent of $24,000 in cash to Summit Realty that covers the first year of business
--Inventory totaling $6,240 was purchased from Hasbro Toy Company. You will pay the invoice within 30 days.
Airplanes | $ 360.00 | 3 |
Balls | $ 80.00 | 4 |
Bear Springers | $ 200.00 | 1 |
Blowout Paper | $ 140.00 | 2 |
Bracelets Rubber | $ 160.00 | 2 |
Cars | $ 140.00 | 2 |
Dinosaurs | $ 80.00 | 4 |
Eyes | $ 200.00 | 2 |
Glasses Disguise | $ 240.00 | 1 |
Glasses with Beards | $ 200.00 | 1 |
Hands Wavy | $ 140.00 | 2 |
Mouth Shaped Whistles | $ 160.00 | 2 |
Rattles | $ 160.00 | 2 |
Smiley Face Flingers | $ 120.00 | 2 |
Squirt Toy | $ 140.00 | 2 |
Stamps | $ 60.00 | 4 |
Stickers | $ 20.00 | 4 |
Sticky Hands | $ 140.00 | 2 |
Tops | $ 160.00 | 2 |
Yo-Yo's | $ 120.00 | 2 |
--You pay cash to Northwoods Design for a website and social media campaign totaling $2,500
--During your first week of business, you sell the following toys for cash. November 22,
1.Airplane: 1
2.Blowout Paper: 1
3.Dinosaur: 1
4.Eyes: 1
5.Hands Wavy: 2
6.Rattles: 1
7.Squirt Toy: 2
8.Stickers: 1
9.Yo-Yo: 1
During your first week of business, you sell the following toys to the Smallville Children's Center on account November 22,
1.Balls: 2
2.Dinosaurs: 2
3.Glasses Disguise: 1
4.Mouth-Shaped Whistle: 1
5.Rattle: 1
6.Stickers: 2
7.Top: 1
--You paid cash for the balance remaining on the retail shelving and other store equipment from Petes Equipment Warehouse
--You pay the November 15th invoice due to Hasbro Toy Company in full
--During your second week of business, you sell the following toys for cash November 29
1.Airplane 1
2.Bracelet Rubber 1
3.Smiley Face Flinger 1
4.Stamp 1
5.Sticky Hands - 1
--During your second week of business, you sell the following toys to the Smallville Children's Center on account November 29
1.Ball 1
2.Bear Springer 1
3.Blowout Paper 1
4.Car 1
5.Eyes 1
6.Sticky Hands 1
7.Top - 1
--You receive payment in full from the Smallville Children's Center for the November 22nd invoice.
--Employee wages for the month totaled $3,000; these will be paid in the first week of December.
Just left the account reciable box blank.
Makes a Joural ledgers,checks,invoices and trial balance and statement. and inventory stock list
MAKE IT CORRECT.
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