MyBnB started a home rental company on January 1. As of November 30, MyBnB reported the...
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MyBnB started a home rental company on January 1. As of November 30, MyBnB reported the following balances The company does not yet have a balance in Retained Earnings because this is its first year of operations so no net income has been reported in prior years. Accounts Payable Cash Cleaning Expense Common Stock Debit Beginning Balance (a) 4. Prepare T-accounts that show the November 30 balances as December 1 beginning balances and then post the journal entries from your answer to requirement 3 to calculate updated December 31 balances. Retained Earnings has a beginning balance of $0. Accounts Payable Cash 42 $ 600 2,000 1,800 6,000 2,000 Equipment Repairs Expense Service Revenue Wages Expense Credit Debit $4,800 400 4,000 1,600 Beginning Balance 4 0 4. Prepare T-accounts that show the November 30 balances as December 1 beginning balances and then post the journal entries from your answer to requirement 3 to calculate updated December 31 balances. Retained Earnings has a beginning balance of 50 Debit Beginning Balance (A) Ending Balance Debit Beginning Balance Ending Balance Debil Beginning Balance Cash 2,000 2,000 Service Revenue 0 Common Stock Credit Credit Credit Beginning Balance Ending Balance Debit Ending Balance Debit Beginning Balance Debit Beginning Balance Accounts Payable o Equipment Cleaning Expense Credit 5 Part 3 of 4 Required information Debit Beginning Balance Ending Balance Debit Beginning Balance Ending Balance THAE Beginning Be Common Stock Repa Wages Expense 0 Credit Credit Credit Beginning Balance Ending Balance Debit Ending Balance Debit Beginning Balance Retained Earnings 0 Credit MyBnB started a home rental company on January 1. As of November 30, MyBnB reported the following balances The company does not yet have a balance in Retained Earnings because this is its first year of operations so no net income has been reported in prior years. Accounts Payable Cash Cleaning Expense Common Stock Debit Beginning Balance (a) 4. Prepare T-accounts that show the November 30 balances as December 1 beginning balances and then post the journal entries from your answer to requirement 3 to calculate updated December 31 balances. Retained Earnings has a beginning balance of $0. Accounts Payable Cash 42 $ 600 2,000 1,800 6,000 2,000 Equipment Repairs Expense Service Revenue Wages Expense Credit Debit $4,800 400 4,000 1,600 Beginning Balance 4 0 4. Prepare T-accounts that show the November 30 balances as December 1 beginning balances and then post the journal entries from your answer to requirement 3 to calculate updated December 31 balances. Retained Earnings has a beginning balance of 50 Debit Beginning Balance (A) Ending Balance Debit Beginning Balance Ending Balance Debil Beginning Balance Cash 2,000 2,000 Service Revenue 0 Common Stock Credit Credit Credit Beginning Balance Ending Balance Debit Ending Balance Debit Beginning Balance Debit Beginning Balance Accounts Payable o Equipment Cleaning Expense Credit 5 Part 3 of 4 Required information Debit Beginning Balance Ending Balance Debit Beginning Balance Ending Balance THAE Beginning Be Common Stock Repa Wages Expense 0 Credit Credit Credit Beginning Balance Ending Balance Debit Ending Balance Debit Beginning Balance Retained Earnings 0 Credit
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TAccounts for MyBnB as of December 1 2023 Assets Account Debit Credit Cash 2000 Equipment 4500 Prep... View the full answer
Related Book For
Financial Reporting and Analysis Using Financial Accounting Information
ISBN: 978-1439080603
12th Edition
Authors: Charles H Gibson
Posted Date:
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