Question: IN EXCEL FORMAT PLEASE!!!! THANK YOU A B D E F G | J L M 4 5 a. Brenda Jo Smith invested $20,000 in

IN EXCEL FORMAT PLEASE!!!! THANK YOU A B D E F G| J L M 4 5 a. Brenda Jo Smith invested $20,000IN EXCEL FORMAT PLEASE!!!! THANK YOU

A B D E F G | J L M 4 5 a. Brenda Jo Smith invested $20,000 in cash to start the business. 6 b. Paid $2,000 for advertisements in a design magazine. 7 c. Purchased office furniture for $7,100 in cash. 8 d. Performed services for $8,550 in cash. 9 e. Paid $290 for the monthly telephone bill. 10 f. Performed services for $1,880 on credit. 11 g. Purchased a fax machine for $725; paid $75 in cash, with the balance due in 30 days. 12 h. Paid a bill for $710 from the office cleaning service. 13 i. Received $1,860 from clients on account. 14 j. Purchased additional office chairs for $705; received credit terms of 30 days. 15 k. Paid $5,600 for salaries. 16 I. Issued a check for $305 in partial payment of the amount owed for office chairs. 17 m. Received $2,620 in cash for services performed. 18 n. Issued a check for $620 for utilities expense. 19 o. Performed services for $2,310 on credit. 20 p. Collected $1,060 from clients on account. 21 q. Brenda Jo Smith withdrew $2,660 in cash for personal expenses. 22 r. Paid $760 to Copy Quick for photocopy work performed during the month. 23 24 25 (Hint: Include office cleaning services and photocopy expenses under "Miscellaneous Expense".) 26 27 Required: 28 (1) Post the above transactions into the appropriate T accounts. 29 (2) Determine the account balances. Prepare a trial balance, an income statement, a statement of owner's equity, and a balance sheet for Brenda Jo Smith, Architect. 30

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!