ACN 201, ASSIGNMENT-1, SUMMER 2021 Marks: 5: Assignment type: Individual, handwritten; Deadline: 31 July 2021. Saturdav@11.59 PM On June 1, 2021, Babor Lotus opened Lotu Repair Service. During the month, the following transactions occurred: June 1 Invested Tk. 20,000 cash in the business. 1 Paid the rent for the store for current month, Tk. 1,700. 1 Paid the premium on a one-year insurance policy, Tk. 1,920. 2 Purchased repair equipment from Bilbao Company, Tk. 16,800. Terms were Tk. 2,400 down and Tk. 1,200 per month for one year. First payment is due July 1. 5 Purchased repair supplies from Rusin Company on credit, Tk. 1,872. 8 Paid cash for an advertisement in a local newspaper, Tk. 240. 15 Received cash repair revenue for the first half of the month, Tk. 1,600. 21 Paid Rusin Company on account, Tk. 900. 30 Received cash repair revenue for the last half of June, Tk. 3,900. 30 Made a withdrawal, Tk. 1,200. Requirements: 1) Make a tabular analysis of the transactions on accounting equation. Use the following column headings: cash, Supplies, Prepaid insurance, equipment, accounts payable, capital, withdrawal, revenues, expenses. 2) Journalize the above transactions. 3) Prepare necessary T accounts. 4) Prepare a trial balance on June 30, 2021 and prove the arithmetic accuracy of the accounts. Other data: a) The repair equipment has an estimated useful life of 24 months with zero salvage value. b) The physical count revealed Tk. 872 supplies on hand at the end of the month. c) One month insurance expired. Requirements: 5) Prepare necessary adjusting entries on June 30, 2021. 6) Enter the trial balance on a worksheet and complete the worksheet. 7) Prepare an income statement for the month ended June 30, 2021, an owner's equity statement on June 30, 2021 and a balance sheet on June 30, 2021. 8) Prepare necessary closing entries on June 30, 2021. 9) Prepare a post-closing trial balance on June 30, 2021. Instructions for the assignment: You should solve the assignment on your script, take an image of the answers, convert it into pdf and upload the pdf file on google form. You must prepare a cover page mentioning your name, ID, Course Code, Section; faculty particulars etc. your cover page should appear as the first page of the assignment. You may use camscanner' apps to take an image. File size: Maximum 10 MB. pc - Adobe Acrobat Reader DC 122-6) File Edit View Sign Window Help Home Tools ds.pdf Sign In Pp8 o 1 / 1 75% + Search Ustes D Export PDF Adobe Export PDF Convert PX files to Word of Carel Online Select Pps Hile po X Convert to Microsoft Word "dood v Document English (US! Chun ACN 201, ASSIGNMENT-1, SUMMER 2021 Nate::Armany in Dasde 22 San PM Onun 1, 20171, Haber Lots opened the Repair Service During the month the following transactions occurred June 1 Invested Tk 20,000 cash in the business. 1 Paid there the store forum Th 1700 1 Paid the premium on a one-year insurance policy, Tk. 1.920. 2 Purchase priment from a company. Tk 16,800 Terms were Tk 2.400 den and lk. 1.200 per month for one year. Fist payment is due July 5 Purchased repair supplies from sin company on cred. Tk 1,872 Paid cash for an advertisement in a local newspaper, lk. 240 15 Received cash repair revenue for the first half of the month, Tk. 1,600. 21 Pai Rusin Company count. Tk. 900 20 esived cash repair And for the last half of.INATR. 3900 30 Mach with wal TH 1200 Requirements: 1) Make a tabular analysis of the transactions on accounting equaton. Use the following un readings esesh, Supplies, Prepaid insurance current oxunts ble epil, wiwal, leveres per 21 Joumaize above transactions 3) Prepare necessary accounts 4 Prepare a trial balance on June 30, 20121 and prove the arthmec accuracy of the Accounts Other data: al The repair equipment has an estimated useful ife of 24 months with zero salvage value. b) The physical count revealed Tk 872 supplies on hand at the end of the month. contrunice expired Requirements: 5) Prepare y genres on June 30, 2021 6 Enter the tal balance on a workshoot and complete the worksheet. 1) Prepare an income statement for the month anded June 30, 20171, an owners equity statement on a 300 2121 and a halance sheet onun 30 201 81 Prepare necessary closing entries on June 30, 2021. 9 Preparc a poct closing trial balance on June 30, 2021. Instructions the Reign You should solve the sigment on your script take an image of the answers, convert it into pdf and upload the pdf file on google fom. You must prepare a meloning your me ID. Course Cat, Section Faculty particular ac you can page should appears tell page of the assignment. You may use to take an image, File size: Maximum 10 MD. Convert Edit PDF Es Create PDF Comment Combinc Files El Organize Pages Convert, edit and e-sign PDF forms asmens Activate Windows Go to Settings to acivate Free 7-Day Trial Type here to search O 91"F Light rain ID 3:41 PM 7/21/2001