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Paste V V 10 000 Number Cell Styles Styles Cells Analysis Sensitivity Add-ins Adobe Acrobat Clipboard D30 Font Z Alignment X fx A B C D E F G H I J K L M N 2 3 Kiersted Financial Services was formed on November 1, 2024. During the month of November, the following events and transactions occurred: 4 5 6 2 Nov 1 Haakon Kiersted, the owner, invested $35,000 cash in the company. He also invested equipment that had originally cost Haakon $25,000 but was currently worth $12,000. Hired one employee to work in the office for a monthly salary of $2,825. 7 3 8 4 9 Signed a three-year contract to lease office space for $2,140 per month. Paid the first and last month's rent in cash. (Hint: The prepayment for the final month's rent should be considered an as Purchased a one-year insurance policy for $4,740 to be paid in monthly installments. Paid the first month's premiums. 5 Purchased additional equipment for $18,000. Paid $6,000 cash and signed a note payable for the balance. 10 6 Purchased supplies for $1,550 on account. 11 7 Purchased additional supplies for $475 cash. 12 16 13 20 Completed services for a customer and immediately collected $990. Completed services for two customers and billed them a total of $4,500. 14 26 Paid $1,000 for the supplies purchased on account on November 6. 15 27 The telephone bill for November was $220. It will be paid in December. 16 27 17 29 Received a $750 cash advance from a customer for services to be provided in December. Collected $2,800 from one of the customers billed on November 20. 18 30 Paid $60 interest on the note payable. 19 30 Paid the employee's monthly salary, $2,825. 20 30 Paid Haakon Kiersted $700 for his personal use. 21 30 Paid Sony Ltd. For a new sound system for Haakon's home, $1,150 cash. < > 200 BE2-2 BE2-3 BE2-4 BE2-5 BE2-7,8 BE2-9,10 Ready Accessibility: Investigate 55F Sunny Search ttt L ASUS BE2-12 E2-9 BE2-18 E2-16 E2-18 P2-3B P2-6B P2-7E ** + 199 W X ENG US + 100% 8:08 AM 9/25/2023 39 ESC Edapp 7 12 2 134) # / 3 14 4 15 B % 5 16 f7 18/ ? & 6 Home f9 Dbut End f10 Fin PgUp f11 P.prc PgDn Prt Sc Pause Break f12 P.suiv. Impr.cr. Interr. 7 * 8 2 9 3 0 1/4 1/2 + 3/4 Insert Dfil. Del Suppr 21 22 A B JO PCT ponat apt aiu Tiaanon InCT PUCu C D 30 Paid Sony Ltd. For a new sound system for Haakon's home, $1,150 cash. E 23 a) Prepare journal entries to record the transactions. 24 b) Post the journal entries to ledger accounts. Use T accounts. 25 c) Prepare a trial balance as at-November 30, 2024. 26 27 28 GENERAL JOURNAL 29 Date Account Titles and Explanation + Ref Debit Credit 30 ## cash 31 32 33 34 35 36 37 38 39 < > BE2-2 BE2-3 BE2-4 BE2-5 BE2-7,8 BE2-9,10 BE2-12 BE2-18 E Ready Accessibility: Investigate 55F Sunny ESC chapp fl * O Search ASU f2 f3))) f4 f53 f6 f7 18 @ # Calibri 11 BIUA A Paste Clipboard V A 1 D30 Font XVfx 2 1LZ Alignment Custom Conditional Formatting Insert ( V $ % 9 Format as Table Delete V Editing < <0.00 .00 0 Cell Styles Format Analyze Sensitivity Add-ins Data 2 Number 2 Styles Cells Analysis Sensitivity Add-ins P Create PDF P Create PDF and and share link share via Outlook Adobe Acrobat F G H I J K L M N O P Q R S T 28 T-ACCOUNTS: TRIAL BALANCE: 29 Cash Notes Payable 30 31 32 KIERSTED FINANCIAL SERVICES Trial Balance November 30, 2024 Debit Credit 33 May 30 Bal Cash S 34 Accounts Receivable 35 H. Kiersted, Capital Supplies 36 Prepaid Rent 37 Equipment Accounts Payable $ 38 39 May 30 Bal 40 41 Accounts Receivable 4. May 30 Bal H. Kiersted, Drawings 42 43 44 May 30 Bal May 30 Bal 45 Service Revenue 46 Supplies Unearned Revenue Notes Payable H. Kiersted, Capital H. Kiersted, Drawings Service Revenue Insurance Expense Interest Expense Rent Expense Salaries Fynence 47 < > *** BE2-2 BE2-3 BE2-4 BE2-5 BE2-7,8 BE2-9,10 BE2-12 BE2-18 E2-9 E2-16 E2-18 P2-3B Ready Accessibility: Investigate 55F Sunny P2-6B P2-7E*** B + 100% ENG 8:09 AM 39 W X < US 9/25/2023 Search ESC L ASUS Home End 15 f6 f7 f8 / f9 Dbut f10 Fin PgUp f11 P.prc. PgDn f12 P.suiv. Prt Sc Impr.cr. Pause Break Insert Dfil. Del Suppr Interr. Clipboard Z V Font : XV fx LL F G May 30 Bal A H 17 19 Supplies 14 Alignment Prepaid Rent N 10 .00 .00 0 Number Cell Styles Styles Format v Cells Data Analysis Sensitivity Add-i J K L M N O P Service Revenue - May 30 Bal Insurance Expense May 30 Bal May 30 Bal = Equipment Interest Expense May 30 Bal Accounts Payable May 30 Bal Rent Expense Q Interest Expense Rent Expense Salaries Expense Telephone Expense Total S > BE2-2 BE2-3 BE2-4 BE2-5 BE2-7,8 BE2-9,10 BE2-12 BE2-18 E2-9 E2-16 E2-18 P2-3B P2-6B P2-7E Accessibility: Investigate 55F O Search W X Sunny ASUS D30 F 0 1 2 34567 8 69 O 1 72 73 45678 77 70 < G H Accounts Payable J K L M N O P Rent Expense - May 30 Bal May 30 Bal Salaries Expense Unearned Revenue BE2-2 May 30 Bal May 30 Bal + Telephone Expense May 30 Bal BE2-3 BE2-4 BE2-5 BE2-9,10 BE2-7,8 BE2-12 BE2-18 E2-9 E2-16 E2-18 P2-3B Ready Accessibility: Investigate 55F Sunny O Search ASUS Paste V V 10 000 Number Cell Styles Styles Cells Analysis Sensitivity Add-ins Adobe Acrobat Clipboard D30 Font Z Alignment X fx A B C D E F G H I J K L M N 2 3 Kiersted Financial Services was formed on November 1, 2024. During the month of November, the following events and transactions occurred: 4 5 6 2 Nov 1 Haakon Kiersted, the owner, invested $35,000 cash in the company. He also invested equipment that had originally cost Haakon $25,000 but was currently worth $12,000. Hired one employee to work in the office for a monthly salary of $2,825. 7 3 8 4 9 Signed a three-year contract to lease office space for $2,140 per month. Paid the first and last month's rent in cash. (Hint: The prepayment for the final month's rent should be considered an as Purchased a one-year insurance policy for $4,740 to be paid in monthly installments. Paid the first month's premiums. 5 Purchased additional equipment for $18,000. Paid $6,000 cash and signed a note payable for the balance. 10 6 Purchased supplies for $1,550 on account. 11 7 Purchased additional supplies for $475 cash. 12 16 13 20 Completed services for a customer and immediately collected $990. Completed services for two customers and billed them a total of $4,500. 14 26 Paid $1,000 for the supplies purchased on account on November 6. 15 27 The telephone bill for November was $220. It will be paid in December. 16 27 17 29 Received a $750 cash advance from a customer for services to be provided in December. Collected $2,800 from one of the customers billed on November 20. 18 30 Paid $60 interest on the note payable. 19 30 Paid the employee's monthly salary, $2,825. 20 30 Paid Haakon Kiersted $700 for his personal use. 21 30 Paid Sony Ltd. For a new sound system for Haakon's home, $1,150 cash. < > 200 BE2-2 BE2-3 BE2-4 BE2-5 BE2-7,8 BE2-9,10 Ready Accessibility: Investigate 55F Sunny Search ttt L ASUS BE2-12 E2-9 BE2-18 E2-16 E2-18 P2-3B P2-6B P2-7E ** + 199 W X ENG US + 100% 8:08 AM 9/25/2023 39 ESC Edapp 7 12 2 134) # / 3 14 4 15 B % 5 16 f7 18/ ? & 6 Home f9 Dbut End f10 Fin PgUp f11 P.prc PgDn Prt Sc Pause Break f12 P.suiv. Impr.cr. Interr. 7 * 8 2 9 3 0 1/4 1/2 + 3/4 Insert Dfil. Del Suppr 21 22 A B JO PCT ponat apt aiu Tiaanon InCT PUCu C D 30 Paid Sony Ltd. For a new sound system for Haakon's home, $1,150 cash. E 23 a) Prepare journal entries to record the transactions. 24 b) Post the journal entries to ledger accounts. Use T accounts. 25 c) Prepare a trial balance as at-November 30, 2024. 26 27 28 GENERAL JOURNAL 29 Date Account Titles and Explanation + Ref Debit Credit 30 ## cash 31 32 33 34 35 36 37 38 39 < > BE2-2 BE2-3 BE2-4 BE2-5 BE2-7,8 BE2-9,10 BE2-12 BE2-18 E Ready Accessibility: Investigate 55F Sunny ESC chapp fl * O Search ASU f2 f3))) f4 f53 f6 f7 18 @ # Calibri 11 BIUA A Paste Clipboard V A 1 D30 Font XVfx 2 1LZ Alignment Custom Conditional Formatting Insert ( V $ % 9 Format as Table Delete V Editing < <0.00 .00 0 Cell Styles Format Analyze Sensitivity Add-ins Data 2 Number 2 Styles Cells Analysis Sensitivity Add-ins P Create PDF P Create PDF and and share link share via Outlook Adobe Acrobat F G H I J K L M N O P Q R S T 28 T-ACCOUNTS: TRIAL BALANCE: 29 Cash Notes Payable 30 31 32 KIERSTED FINANCIAL SERVICES Trial Balance November 30, 2024 Debit Credit 33 May 30 Bal Cash S 34 Accounts Receivable 35 H. Kiersted, Capital Supplies 36 Prepaid Rent 37 Equipment Accounts Payable $ 38 39 May 30 Bal 40 41 Accounts Receivable 4. May 30 Bal H. Kiersted, Drawings 42 43 44 May 30 Bal May 30 Bal 45 Service Revenue 46 Supplies Unearned Revenue Notes Payable H. Kiersted, Capital H. Kiersted, Drawings Service Revenue Insurance Expense Interest Expense Rent Expense Salaries Fynence 47 < > *** BE2-2 BE2-3 BE2-4 BE2-5 BE2-7,8 BE2-9,10 BE2-12 BE2-18 E2-9 E2-16 E2-18 P2-3B Ready Accessibility: Investigate 55F Sunny P2-6B P2-7E*** B + 100% ENG 8:09 AM 39 W X < US 9/25/2023 Search ESC L ASUS Home End 15 f6 f7 f8 / f9 Dbut f10 Fin PgUp f11 P.prc. PgDn f12 P.suiv. Prt Sc Impr.cr. Pause Break Insert Dfil. Del Suppr Interr. Clipboard Z V Font : XV fx LL F G May 30 Bal A H 17 19 Supplies 14 Alignment Prepaid Rent N 10 .00 .00 0 Number Cell Styles Styles Format v Cells Data Analysis Sensitivity Add-i J K L M N O P Service Revenue - May 30 Bal Insurance Expense May 30 Bal May 30 Bal = Equipment Interest Expense May 30 Bal Accounts Payable May 30 Bal Rent Expense Q Interest Expense Rent Expense Salaries Expense Telephone Expense Total S > BE2-2 BE2-3 BE2-4 BE2-5 BE2-7,8 BE2-9,10 BE2-12 BE2-18 E2-9 E2-16 E2-18 P2-3B P2-6B P2-7E Accessibility: Investigate 55F O Search W X Sunny ASUS D30 F 0 1 2 34567 8 69 O 1 72 73 45678 77 70 < G H Accounts Payable J K L M N O P Rent Expense - May 30 Bal May 30 Bal Salaries Expense Unearned Revenue BE2-2 May 30 Bal May 30 Bal + Telephone Expense May 30 Bal BE2-3 BE2-4 BE2-5 BE2-9,10 BE2-7,8 BE2-12 BE2-18 E2-9 E2-16 E2-18 P2-3B Ready Accessibility: Investigate 55F Sunny O Search ASUS
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Related Book For
Fundamentals Of Digital Logic With Verilog Design
ISBN: 9780073380544
3rd Edition
Authors: Stephen Brown, Zvonko Vranesic
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