Question

Q1. Prepare general journal entries for the following transactions.
Q2. The general ledger reported $10,000 as the August 1 balance for cash. On August 31, the general ledger would report cash of _________.
Q3. The August Income Statement would report Sales Revenue of $(4,000 / 5,000 / _________), Cost of Goods Sold of $(2,000 / 3,000 / _________), and Operating Expenses totaling $(_________ / 3,500 / 6,500).
Q4. The August income statement would report gross profit of _________ and net income of _________.


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  • CreatedSeptember 17, 2015
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