DO THE ACCOUNTING CYCLE: 1 journal entries, t account 2 financial statements (balance sheet, income statement,...
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DO THE ACCOUNTING CYCLE: 1 journal entries, t account 2 financial statements (balance sheet, income statement, owners equity) 3 working paper (Journal entries with explanation, t accounts, trial balance, adjusting entries, adjusted trial balance) 4 (Closing entries, Post closing trial balance, reversing entries) Given data. 1. Feb 1, 2023 Owner invested P5,000 cash in her gift shop business. 2. Feb 2 Purchased supplies for $500 cash. 3. Feb 3Billed clients for products delivered worth $1000, terms 2/10, n15. 4. Feb 5 Purchased merchandise for 1000 on account. 5. Feb 10 Collected full payment from customer billed last Feb 3. 6. Feb 11 Sold product worth, P1000 for cash. 7. Feb 12 Paid wages worth P1500 to her employee. 8. Feb 13 Paid utility expenses, #500. 9. Feb 14 Owner withdraw cash, P1000. 10. Feb 15 Cash sales, $500. Additional information: a. Supplies at the end of the month is at $200. DO THE ACCOUNTING CYCLE: 1 journal entries, t account 2 financial statements (balance sheet, income statement, owners equity) 3 working paper (Journal entries with explanation, t accounts, trial balance, adjusting entries, adjusted trial balance) 4 (Closing entries, Post closing trial balance, reversing entries) Given data. 1. Feb 1, 2023 Owner invested P5,000 cash in her gift shop business. 2. Feb 2 Purchased supplies for $500 cash. 3. Feb 3Billed clients for products delivered worth $1000, terms 2/10, n15. 4. Feb 5 Purchased merchandise for 1000 on account. 5. Feb 10 Collected full payment from customer billed last Feb 3. 6. Feb 11 Sold product worth, P1000 for cash. 7. Feb 12 Paid wages worth P1500 to her employee. 8. Feb 13 Paid utility expenses, #500. 9. Feb 14 Owner withdraw cash, P1000. 10. Feb 15 Cash sales, $500. Additional information: a. Supplies at the end of the month is at $200.
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Answer rating: 100% (QA)
Answer Lets start with the accounting cycle Journal Entries Date Account Debit Credit Feb 1 Cash 500... View the full answer
Related Book For
Accounting Principles Volume 2
ISBN: 9781119786634
9th Canadian Edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
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