Question: I really need help with these two questions. I am currently taking a test Brief Exercise 3-2 Cullumber Repair Shop had the following transactions during



I really need help with these two questions. I am currently taking a test




Brief Exercise 3-2 Cullumber Repair Shop had the following transactions during the rst month of business as a proprietorship. Joumalize the transactions. (If no entry is required, select "No entry" for the account titles and enter 0 ft the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Aug. 2 Invested $12,530 cash and $2,260 of equipment In the business. 7 Purchased supplies on account for $540. (Debit asset account.) 12 Performed services for clients, for which $1,401 was collected in cash and $657 was billed to the clients. 15 Paid August rent $646. 19 Counted supplies and determined that only $267 of the supplies purchased on August 7 are still on hand. Date Account mien and Explanation Debit credlt Aug- 2 l H H l l H H l El ll ll l H H Aug-22 l H H l l l l H H l l l l H H iJl H H H H \fBrief Exercise 4-3 Blossom Corporation had net sales of $2,428,100 and interest revenue of $40,500 during 2017. Expenses for 2017 were cost of goods sold $1,459,900, administrative expenses $212,400, selling expenses $281,700, and interest expense $52,300. Blossom's tax rate is 30%. The corporation had 108,600 shares of common stock authorized and 72,030 shares issued and outstanding during 2017. Prepare a condensed multiple-step income statement for Blossom Corporation. (Round earnings per share to 2 decimal places, e.g. 1.48.) BLOSSOM CORPORATION Income Statement o 0' 0' 0'
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