Robles invested for a dress shop May 2001 Account and transaction are as follows; May 1 -
Question:
Robles invested for a dress shop May 2001 Account and transaction are as follows;
May 1 - Robles invested $65,000 to open the business.
May 1 - Purchase equipment worth $35,000.
May 2 - Receives $750 from the customer for the repaired pants.
May 5 - Purchase shop supplies on account $8,500.
May 12 - Billed Hyatt Hotel for finished beddings and curtains $18,000.
May 13 - Mr. Will paid for the paired Americana $2,300 already done.
May 15 - Paid salaries to employee amounting $7,500.
May 22 - Received payment from Hyatt Hotel.
May 25 - Robles donated $1,000 to a foundation.
May 26 - Received payment of 50% of $7,500 from JAE Company for the ordered office uniform and remaining on account.
May 27 - Paid utilities amounting $1,700.
May 28 Receives $12,000 from the customer for the done School Uniforms.
May 29 - Withdrew $8,000 for personal use.
May 30 - Paid salaries to employee amounting $7,500
May 31 - Rent Expense for the month $3,500.
correct answers for a Journal entries, a GENERAL LEDGER, a TRIAL BALANCE, a STATEMENT OF PERFORMANCE, a STATEMENT OF EQUITY, and a STATEMENT OF FINANCIAL POSITION on this problem.
Expert Answer:
Lets start by recording the journal entries for each transaction Journal Entries May 1 Debit Cash 65000 Credit Robles Capital 65000 Investment May 1 D... View the full answer
