Troy Dale opened his campground business on June 1, 2021. During the first month, he completed...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Troy Dale opened his campground business on June 1, 2021. During the first month, he completed the following transactions related to the business. 1. Troy transferred $30.000 cash from his personal bank account to the business account 2. Collected $3.000 cash from campers for the first half of the month 3. Purchased office and computer equipment worth $8,000 on account, which will be paid next month 4. Paid $1,100 cash for entertainment 5. Paid insurance expense with $800 cash 6. Provided sites to campers who will pay later, worth $4,000 7. Paid $600 cash for miscellaneous expenses 8. Received a utilities bill of $1,000, to be paid next month 9. Paid $1,200 cash for supplies used around the campground 10. Paid $1,000 salary to his assistant 11. Collected 50% of the balance owing from campers who occupied sites earlier this month 12. Received $1,000 cash for sites to be used in three months Prepare the T-account worksheet. Troy Dale opened his campground business on June 1, 2021. During the first month, he completed the following transactions related to the business. 1. Troy transferred $30.000 cash from his personal bank account to the business account 2. Collected $3.000 cash from campers for the first half of the month 3. Purchased office and computer equipment worth $8,000 on account, which will be paid next month 4. Paid $1,100 cash for entertainment 5. Paid insurance expense with $800 cash 6. Provided sites to campers who will pay later, worth $4,000 7. Paid $600 cash for miscellaneous expenses 8. Received a utilities bill of $1,000, to be paid next month 9. Paid $1,200 cash for supplies used around the campground 10. Paid $1,000 salary to his assistant 11. Collected 50% of the balance owing from campers who occupied sites earlier this month 12. Received $1,000 cash for sites to be used in three months Prepare the T-account worksheet.
Expert Answer:
Answer rating: 100% (QA)
Ledger accounts are prepared as follows 20210601 20210602 20210611 20210612 Balance 2021... View the full answer
Related Book For
Posted Date:
Students also viewed these accounting questions
-
During the first month of operations (March 2010), Silver Entertainment Corporation completed the following selected transactions: a. The business received cash of $32,000 and a building valued at...
-
During the first month of operations (May 2016), Spahr Music Corporation completed the following selected transactions: a. The business received cash of $50,000 and a building with a fair value of...
-
During the first month of operations ended May 31, 2013, T-Shirt Express Company produced 37,000 designer T-Shirts, of which 34,300 were sold. Operating data for the month are summarized as follows:...
-
Refer to E 29 and respond to the following requirements. Data in E 2-9 Prepare the necessary adjusting entries on December 31, 2024, for the Microchip Company for each of the following situations....
-
A piece of newly purchased industrial equipment costs $975,000 and is classified as seven-year property under MACRS. Calculate the annual depreciation allowances and end-of-the-year book values for...
-
A new design of frying pan is made from glass ceramic 9606, a material with excellent thermal shock resistance originally developed for missile radomes. The pan bottom is \(4.2 \mathrm{~mm}\) thick....
-
Prove that, for the system considered in Section 13.5.1, the minimum value of \(\omega^{2}\) for which the amplitude of subharmonic oscillations \(A\) will have a real value is given by...
-
The three accounts shown below appear in the general ledger of Cesar Corp. during 2010. InstructionsFrom the postings in the accounts, indicate how the information is reported on a statement of cash...
-
How can companies like Strava stay ahead with mobile technology and wearable devices? 2-Claire started using Garmin but dropped this in favour of Strava. What should Strava do to ensure their premium...
-
Punnett Square 2 shows a Punnett square describing a cross between two individuals from the F 1 generation. Was Punnett square 2 a good predictor of offspring phenotypes? Support your answer by...
-
Suppose there is a real benefit worth $200,000 that will be generated in year 5 of a project. If the real discount rate is 5%, what is the present value of that benefit?
-
The new management of a local hotel decided to update their recently acquired (and very outdated) property by installing wireless Internet service for their guests. They are also considering updating...
-
At the beginning of March, Carla Vista Software Company had Cash of $11,742, Accounts Receivable of $18.483, Accounts Payable of $4,065, and G. Carla Vista, Capital of $26.160. During the month of...
-
consider the position of your coworker in relation to the ethical and legal forces at work, and then answer the questions. You work for Hallstead Communications, a midsized digital phone, cable, and...
-
The entity conducted an independent appraisal of the value of its real estate in accordance with previously applicable national rules. The entity's financial analysts determined that the values had...
-
Introduction In this lab, we will create our own class, namely Stat. The information of this class is described in the UML class diagram. Recall what we have learned about the UML (Unified Modeling...
-
Consider the regular expression: (albic)*a(albic) (albic)...(albic) which has on the right the term "(alb|c)" n-1 times, and describes in the alphabet {'a', 'b', 'c'} the language of strings in which...
-
Consider the advantages and disadvantages of extending property rights so that everyone would have the right to prevent people imposing any costs on them whatsoever (or charging them to do so).
-
The following is an excerpt from a conversation between two employees of Omni Technologies, Jay Bach and Cora Hardaway. Jay is the accounts payable clerk, and Cora is the cashier. Jay: Cora, could I...
-
Baxter Inc., a developer of radiology equipment, has stock outstanding as follows: 18,000 shares of cumulative 2%, preferred stock of $75 par, and 40,000 shares of $10 par common. During its first...
-
On January 1, 2012, you win $110,000,000 in the state lottery. The $110,000,000 prize will be paid in equal installments of $11,000,000 over 10 years. The payments will be made on December 31 of each...
-
Prove: 'Bernoulli's equation is a restrictive form of energy equation'.
-
What are the assumption made for the establishment of Bernoulli's equation?
-
A pipe, through which water is flowing, has diameters \(30 \mathrm{~cm}\) and \(15 \mathrm{~cm}\) at crosssections 1 and 2 respectively. The discharge velocity of the pipe is \(40 \mathrm{~L} /...
Study smarter with the SolutionInn App