Question: i need help with this issue for accounting information for managers End of Chapter Question 4.26 Enter the following transactions for the month of March
i need help with this issue for accounting information for managers

End of Chapter Question 4.26 Enter the following transactions for the month of March 2017 in a worksheet and calculate the profit or loss for the period. ( Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) 2017 March 3 Injected capital to commence business $130,000. 4 Purchased office stationery $1,200. 7 Received cash fees $1,800. Took out a loan from Smith Bank $9,200. 8 Paid rent for March $1,000. 10 Purchased office suite of furniture on credit $21,700. 12 Invoiced a customer for services $1,900. 17 Paid wages to executive assistant $690. 27 Invoiced a customer for services $1,500. (Enter your answers in the transaction order displayed in the problem statement.) Please note: March 4 could also be, alternatively, recorded as an asset (office stationery ). So instead of - 1600 profit or loss it would be + 1600 office stationery (asset). The decision to expense or capitalise office stationery as an asset depends on the size of the business and the frequency of stationery purchases. For example, if the stationery purchase is for a month then it's more likely to be an expense. If it is purchased in large amounts for the year, then the purchase should be treated as an asset. It is not a credit transaction as unlike March 10, it does not state 'on credit'. Date March Accounts Office Accounts Profit 2017 Cash receivable furniture payable Loan Capital or loss 3 130,000 $ 1,800 1,200 CO 9,200 8 1,000 10 21,700 12 1,900 17 690 27 1,500 Totals Question Attempts: 0 of 1 used
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