Question: its one question please help P3-6 (Algo) Analyzing the Effects of Transactions Using T-Accounts, Preparing an income Statement, and Evaluating the Net Profit Margin Ratio

its one question please help
its one question please help P3-6 (Algo) Analyzing the Effects of Transactions
Using T-Accounts, Preparing an income Statement, and Evaluating the Net Profit Margin
Ratio LO3-4, 3-5, 3-6 [The forrowing information applies to the questions displayed

P3-6 (Algo) Analyzing the Effects of Transactions Using T-Accounts, Preparing an income Statement, and Evaluating the Net Profit Margin Ratio LO3-4, 3-5, 3-6 [The forrowing information applies to the questions displayed below] Following are account balances (in millions of dollars) from a recent StateEx annual teport, followed by several typlcal transactions. Assume that the following are account balances on May 31 (end of the prior fiscal year): These accounts are not necessatily in good order and have normal debit or credit balances. Assume the foliowing transactions (in millions, except for par value) occurred the next fiscal year beginning June t (the current year): a. Provided delivery service to customers, who pald $12,890 in cash and owed $40,704 on account. b. Purchased new equipment costing $3,894; signed a long term note c. Paid $12,464 cash to rent equipment and aircrat, with $6,586 for rent this year and the rest for rent next year. d. Spent $1,324 cash to repair taciities and equipment during the year, e. Collected $38.085 from customers on account 1. Repaid $380 on a long-term note (ignore interest). a. issued 250minion additional shares of $010 par value stock for $39 (that's $39 milion). h. Paid employees $15,026 for work duting the yeat 1. Purchased spare parts, supplies, and fuel for the aircraft and equipment for $13,464. cash. 1. Used $7.600 in spare parts, supples, and fuel for the aircratt and equipment during the yeat k. Poid $1.244 on accounts payable. L Ordered $134 in spare parts and supplies. P3.6 Part 2 2. Prepare Taccounts foc the currentyear from the preceding ist, enter the ending balances from Moy 31 as the respective beginaing balances for June 1 of the current year. For each transaction, record the current year's transoction effects in the T-accounts. Label each using the letter of the transoction. (Enter your answers in millions, not in dollars.) Propaid Expenses Property and Equipment (net) Accounts Payable \begin{tabular}{|l|l|l|l|} \hline Bog. bal. & & \\ \hline(k) & & & \\ \hline & & & \\ \hline End. bal. & & 0 & \\ \hline & & & \\ \hline \end{tabular} Additional Pald-in Capltal Dolivery Service Rovente 1 Required information

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