1. Mr. Charles Combs invested $20,000 cash in opening his Interior Design Company. 2. Bought a computer...
Question:
1. Mr. Charles Combs invested $20,000 cash in opening his Interior Design Company.
2. Bought a computer on account $ 400.
3. Paid cleaning $ 150 cash
4. Charged a fee to a customer $ 8,000 for an apartment decoration, the customer paid
50% in cash and the remaining amount when the job is completed.
5. Bought a Copy Machine $ 3,000 on account.
6. Paid the rent $ 1,300 cash.
7. Got a loan from Chase Bank $ 20,000.
8. Bought Office supplies $ 400 on account from Staples.
9. Charged a fee to a customer for a Kitchen Renovation $ 9,000, the customer paid $
4,000 cash and the due balance in 30 days.
10. Paid back to Chase $ 2,000 cash.
11. Charged a fee to a customer $ 10,000, the customer paid $ 3,000 cash and the due
balance in a month.
12. Bought Office Furniture on account $ 2,000.
13. Bought Office supplies $ 1,000 cash.
Required:
T-Accounts
Trial Balance
Income Statement
Balance Sheet
Financial Accounting
ISBN: 978-1118978085
IFRS 3rd edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso