The transactions for Dancing Antz, Inc. for the month of September 2013 have been posted to the
Question:
The transactions for Dancing Antz, Inc. for the month of September 2013 have been posted to the accounts as follows:
Requirements
1. Prepare the journal entries that served as the sources for the six transactions.
2. Calculate the balance in each account.
3. Prepare the trial balance for Dancing Antz, Inc. at September 30, 2013.
4. Prepare a statement of financial position for Dancing Antz, Inc. as of September 30, 2013.
Transcribed Image Text:
Cash Equipment Building (1) 28,000 (4) 2,000 (2 600 (5) 6,000 (4) 2,000 (3) 80,000 150 Accounts Payable (6) (2) Notes Payable 6,000 (3) 80,000 Common Shares 600 (1) 28,000
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 53% (13 reviews)
Req 1 Journal DATE ACCOUNTS POST REF DR CR Sep 1 Cash 28000 CommonShares 28000 Sold Share 2 Supplies ...View the full answer
Answered By
Ishrat Khan
Previously, I have worked as an accounting scholar at acemyhomework, and have been tutoring busines students in various subjects, mostly accounting. More specifically I'm very knowledgeable in accounting subjects for college and university level. I have done master in commerce specialising in accounting and finance as well as other business subjects.
5.00+
140+ Reviews
437+ Question Solved
Related Book For
Financial Accounting
ISBN: 978-0132889711
1st Canadian Edition
Authors: Jeffrey Waybright, Liang Hsuan Chen, Rhonda Pyper
Question Posted:
Students also viewed these Cost Accounting questions
-
Calculate the breakeven point in dollars for Hipage using the following facts for 2020: Fixed Costs $200,000 Sales Price Per Unit $100 Variable Cost Per Unit $75 $2,000 O $8,000 $266,667 $800,000
-
In E2-13, prepare any journal entries that would have been different if the only trigger points had been the purchase of materials and the sale of finished goods.
-
For E prepare any journal entries that would have been different if the only trigger points had been the purchase of materials and the sale of finished goods. In E, a. Purchased raw materials, on...
-
Given the observed yields below, what is the 1-year forward rate, 4 years from now? [Hint: This is the 1-year return that will take you from the 4-year average annualized return (yield) to the 5-year...
-
Why should we be concerned with risk in capital budgeting? Why not just work with the expected cash flows as we did in Chapter 13?
-
On Jan. 1 the balance of outstanding shares was 60,000. On Mar. 1. Blue Co. issued 60,000 shares for cash. On July 1, Blue purchased 50,000 shares in a stock buyback. What is the weighted average...
-
When you calculate the number of combinations of r objects taken from a group of n objects, what are you counting? Give an example. True or False? In Exercises 36, determine whether the statement is...
-
Nancy Buffett has decided to file a grievance with her union steward. The grievance alleges that she was bypassed by a junior employee for a promotion to senior technician. a. Explain the steps her...
-
Need help asap please Requirement: Prepare the production budget for Guman Inc.. Company policy calls for a given quarter's ending finished goods inventory to equal 50% of the next quarter's expected...
-
You have been hired by the Regional Real Estate Company to help them analyze real estate data. One of the companys Pacific region salespeople just returned to the office with a newly designed...
-
Spadina Realty, Inc. had the following transactions for the month of June 2013. Jun 2 Paid Rent Expense, $900. 4 Performed service for a customer and received cash, $1,500. 8 Purchased supplies on...
-
The following transactions occurred during May 2013 of the Lion, Inc.s operations: 1. Sales on account were $5,700. 2. Interest Expense for the month of May was $1,600. Lion made a monthly interest...
-
Which of the following is a preconfigured JMS object? (a) Message (b) Destination (c) Connection (d) Session
-
A program X running on processor A has a global CPI of 2 and a clock frequency of 2 GHz. The same program X running on processor B has a global CPI of 5 and a clock frequency of 5 GHz. what processor...
-
20 cm Room (3) 20 cm + 1 D=10 cm + 20 cm [ 10 10 cm Figure 7 (d) Using configuration factor formulae given in Figures 7(a), 7(b) and 7(c) Calculate configuration factor F12 in Figure 7(d) treating...
-
2. Let P(3,2,1),Q(2,1,c) and R(c,1,0) be points in R3. (a) Use the cross product definition to find the area of triangle PQR in terms of c. (b) For what values of c (if any) is PQR a right triangle?
-
Find and classify the discontinuities of the following function as removable or nonremovable. If a classification has no discontinuities, write None for your answer. Answer 03023 Hawks Learning A(x)=...
-
Do you see a parallel between the evolution of goals in economics and the move from Corporate Social Responsibility (CSR) to environmental, social, and governance (ESG), ? If so, please explain...
-
What measures of evaluation are appropriate for sales management to use when conducting appraisals of individual members of the sales force?
-
Suppose that a business sells 6-month subscriptions to its monthly magazine. On January 1, the company receives a total of $600 for 10 subscriptions. To record this transaction, the company debits...
-
State the date (or dates) on which a "large" company would be required to settle its corporation tax liability for each of the following accounting periods: (a) the eleven months to 31 May 2023 (b)...
-
Using Wikpedia (www.wikpedia.com), look up the entry for Sarbanes-Oxley Act. Look over the table of contents and find the section that describes Section 404. What does Section 404 require of...
-
Using Wikpedia (www.wikpedia.com), look up the entry for Sarbanes-Oxley Act. Look over the table of contents and find the section that describes Section 404. What does Section 404 require of...
-
Using Wikpedia (www.wikpedia.com), look up the entry for Sarbanes-Oxley Act. Look over the table of contents and find the section that describes Section 404. What does Section 404 require of...
-
1. Determine the value of the right to use asset and lease liability at commencement of the lease.
-
Problem 22-1 The management of Sunland Instrument Company had concluded, with the concurrence of its independent auditors, that results of operations would be more fairly presented if Sunland changed...
-
Question 4. - Week 9. What are the major competitive issues General Electric faces when managing cooperative strategies? - (7 marks)
Study smarter with the SolutionInn App