On March 1 of the current year, Jenjen Bella established a business under the name Bella Employment
Question:
On March 1 of the current year, Jenjen Bella established a business under the name Bella Employment Agency. Transactions completed during the month were as follows;
March 1 - Opened a business bank account with a cash deposit of $500,000.
March 2 - Invested land and building worth $100,000 and $400,000 respectively.
March 5 - Purchased equipment worth $12,000 paying cash f $5,000 and the balance on the account.
March 7 - Purchased supplies for cash, $2,500.
March 15 - Commission collected $6,500.
March 18 - Paid creditor on account, $3,000
March 20 - Paid property taxes, $5,000.
March 22 - Withdrew cash from the business account for personal use, $3,000.
March 30 - Commission not yet collected, $4,500.
March 31 - Supplies inventory count showed unused supplies of $2,000. Cash paid for salary, $4,200 and utility $3,500. Depreciation: Building, $4,000 and Equipment, $240
REQUIRED:
CHART OF ACCOUNT
JOURNAL
LEDGER
TRIAL BALANCE
STATEMENT OF PERFORMANCE
STATEMENT OF EQUITY
STATEMENT OF FINANCIAL POSITION
Corporate Financial Accounting
ISBN: 978-1133952411
12th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac