Question: Alexis opened a dance studio, where she gave lessons to children after school and couples at night. The business is organized as a sole proprietorship

Alexis opened a dance studio, where she gave lessons to children after school and couples at night. The business is organized as a sole proprietorship and has the accounts listed in the ledger with the T accounts. The transactions are:
October 5: Started the business with a cash investment of $5,000.
October 6: Paid the rent for the next 6 months of $4,800.
October 10: Purchased office supplies on account from Staples worth $850.
October 13: Borrowed cash from the bank by signing a promissory note of $5,000 and the money was deposited into the business' account.
October 16: Paid for utilities for this month of $310.
October 19: Paid $200 to Staples on account.
October 22: Received $500 cash for dance lessons starting next month from a couple who want to prepare for their wedding dance.
October 28: Paid the salaries of 2 other dance instructors for the month for a total of $2,250.
October 28: Recorded dance lesson services for the month of $3,400 cash AND $920 from customers on account.
October 31: Received $300 cash on account.
Show the computation of Debt Ratio below:
Alexis opened a dance studio, where she gave

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