Question: please make an accounting cycle. do not worry about color just all steps of the accountung cycle. thanks in advance you are a life saver.!!!!


Create a T-Account for all accounts listed below. Don't forget to put them in colorill Purr-fect Patty's Paws Corporation Chart of Accounts Pare-fect Patty "s. Paws Transactions 1. On Octeter. 1. Purr-fect Patty bought some new equipment for her Purt-fect feet Park,-13utr-fect Paw Patrol, and Purt-feet Pedi Paw. Palace from Teddy and Rowaly 's Woting equiptrient. St. felt it was fime to replace all of her equipment (ahe sold all of her oldequiptntint hast month) Sheperchased a total $212,121 in cquiprticnt for her bustress. She patid \$20.202 in cash and piat the remaining halance on account. All balances on account must be fully patid within three rhonths. The cquipment has an expected life of 7.75 years and a salvage value ot $37.467. It wal1 all be depreciated using the straight-lime method. 2. On Oetober 2, Purr-fect Party hires Maddy, Landyn. Abby, and Collin to work at her Purr-feet Pet Park and Purr-fect Paw Patrol. She plans on paying them 514 an hour and she expects them to work a total of 120 hours all together this month. Their duties will include assisting people to the pet park, walking dogs as the paw patrol, and assisting guests at the Pedi Paw Palace. 3. On October 6. Parr-fect Patty piles up her cash!! She needs to record $3.020 from the Purr-fect Pedi Paw Palace and S1,989 from the Pur-feet Paw Patrol. She also needs to record her coins from her Purr-fect Pet Park (her machines only accept coins for entry into the park). She emptied 14,289 quarters, 5,648 dimes, 7.777 nickels, and 11,110 pennies from the toll booth at the cntrance to her pet park! You can record this all in one transaction (make sure to properly classify the three different revenues)! 4. On Oetober 9, Purr-fect Patty pays Bryan's Barking Bulletins $1,250 for adverting around town. The bulletin boards will contain information about Purr-fect Patty's Paws and should increase business by 25% over the next month! Patty expenses this immediately. 5. On October 12, Purr-fect Patty fires a guy named Keith Klumsy. She goes ahead and pays his salary of \$15 for the one hour he showed up last week and did nothing. 6. On October 14, Purr-fect Patty's pay period ends and she know owes her employees $1,765. She plans on paying them October 20. 7. On October 15 , Purr-fect Patty recognizes the following revenues: $4,012 at Purr-fect Pedi Paw Palace, \$2,376 from Purr-fect Paw Patrol, and \$5,789 (all in coins) from Purr-fect Pet Park. Twenty-five percent of the Purr-fect Pedi Paw Palace and Purr-fect Paw Patrol was billed to customers' accounts (due November 10). All the rest was received in cash or coins! 8. On October 16, Purr-fect Patty went to see Linnerd and Franklins Fast Loans. She wanted to use a loan to pay off some of her balance owed from Teddy and Rowdy's Woofing Equipment. She got a 6-year loan in the amount of $144,000 with a 12.8% interest rate. The loan will be paid off in 12 equal installments due on April 16th and October 16th for each of the next 6 years. Interest will be paid with each installment. Once she received the loan, she immediately used it to pay off some of her balance at Teddy and Rowdy's Woofing Equipment. (Note: there are two transactions occurring here, first recognize the loan and then pay your liability). On October 19, Purr-fect Patty heads to Kristy's Knick-Knacks to purchase some supplies needed for the business. She purchased $1,740 worth of supplies on account. 14. On October 26, Purr-fect Patty collects 22,467 quarters, 11,964 dimes, 16,588 nickels, and 40,145 pennies from the toll booth at the entrance to her Parr-feet Pet Park! The park will be closed until November I for upgrades and maintenance 15. On Oetober 29, Purr-fect Patty recognizes the following revenues $3,999 at Purr-fect Pedi Paw Palace and $2,011 for Purr-feet Paw Patrol. 40% was billed to customer accounts (due November 25) and the rest was received in cash. 16. On October 30. Purr-fect Patty refunds 153 quarters, 4 dimes, 6 nickels, and 5 pennies to two customers that had a bad experience at the Purr-fect Pet Park. It happens! Adjustments On October 31, you notice the following: a) You need to recognize deprecation on the equipment b) You have $802 worth of supplies on hand c) You have accrued salaries of $2,043 d) Your customers owe you $345 for services not yet billed for Pur-fect Paw Patrol services. c) You have used up one months worth of insurance (Patty bought the 9-month policy on September 30) f) You need to recognize interest accumulated on the note payable g) You need to recognize depreciation on the building. Patty bought the building on July 15 . last year. It has an expected life of 35 years and you use straight-line depreciation. h) You need to recognize/acerue federal income taxes of $5,505. The Accounting Cycle 1/2) Analyze \& Journalize transactions 6) Prepare an adjusted trial balance 3) Post to ledger accounts 7) Prepare the financial statements 4) Prepare a trial balance 8) Journalize and post closing entries 5) Journalize and post adjusting entries 9) Prepare a post-closing trial balance Create a T-Account for all accounts listed below. Don't forget to put them in colorill Purr-fect Patty's Paws Corporation Chart of Accounts Pare-fect Patty "s. Paws Transactions 1. On Octeter. 1. Purr-fect Patty bought some new equipment for her Purt-fect feet Park,-13utr-fect Paw Patrol, and Purt-feet Pedi Paw. Palace from Teddy and Rowaly 's Woting equiptrient. St. felt it was fime to replace all of her equipment (ahe sold all of her oldequiptntint hast month) Sheperchased a total $212,121 in cquiprticnt for her bustress. She patid \$20.202 in cash and piat the remaining halance on account. All balances on account must be fully patid within three rhonths. The cquipment has an expected life of 7.75 years and a salvage value ot $37.467. It wal1 all be depreciated using the straight-lime method. 2. On Oetober 2, Purr-fect Party hires Maddy, Landyn. Abby, and Collin to work at her Purr-feet Pet Park and Purr-fect Paw Patrol. She plans on paying them 514 an hour and she expects them to work a total of 120 hours all together this month. Their duties will include assisting people to the pet park, walking dogs as the paw patrol, and assisting guests at the Pedi Paw Palace. 3. On October 6. Parr-fect Patty piles up her cash!! She needs to record $3.020 from the Purr-fect Pedi Paw Palace and S1,989 from the Pur-feet Paw Patrol. She also needs to record her coins from her Purr-fect Pet Park (her machines only accept coins for entry into the park). She emptied 14,289 quarters, 5,648 dimes, 7.777 nickels, and 11,110 pennies from the toll booth at the cntrance to her pet park! You can record this all in one transaction (make sure to properly classify the three different revenues)! 4. On Oetober 9, Purr-fect Patty pays Bryan's Barking Bulletins $1,250 for adverting around town. The bulletin boards will contain information about Purr-fect Patty's Paws and should increase business by 25% over the next month! Patty expenses this immediately. 5. On October 12, Purr-fect Patty fires a guy named Keith Klumsy. She goes ahead and pays his salary of \$15 for the one hour he showed up last week and did nothing. 6. On October 14, Purr-fect Patty's pay period ends and she know owes her employees $1,765. She plans on paying them October 20. 7. On October 15 , Purr-fect Patty recognizes the following revenues: $4,012 at Purr-fect Pedi Paw Palace, \$2,376 from Purr-fect Paw Patrol, and \$5,789 (all in coins) from Purr-fect Pet Park. Twenty-five percent of the Purr-fect Pedi Paw Palace and Purr-fect Paw Patrol was billed to customers' accounts (due November 10). All the rest was received in cash or coins! 8. On October 16, Purr-fect Patty went to see Linnerd and Franklins Fast Loans. She wanted to use a loan to pay off some of her balance owed from Teddy and Rowdy's Woofing Equipment. She got a 6-year loan in the amount of $144,000 with a 12.8% interest rate. The loan will be paid off in 12 equal installments due on April 16th and October 16th for each of the next 6 years. Interest will be paid with each installment. Once she received the loan, she immediately used it to pay off some of her balance at Teddy and Rowdy's Woofing Equipment. (Note: there are two transactions occurring here, first recognize the loan and then pay your liability). On October 19, Purr-fect Patty heads to Kristy's Knick-Knacks to purchase some supplies needed for the business. She purchased $1,740 worth of supplies on account. 14. On October 26, Purr-fect Patty collects 22,467 quarters, 11,964 dimes, 16,588 nickels, and 40,145 pennies from the toll booth at the entrance to her Parr-feet Pet Park! The park will be closed until November I for upgrades and maintenance 15. On Oetober 29, Purr-fect Patty recognizes the following revenues $3,999 at Purr-fect Pedi Paw Palace and $2,011 for Purr-feet Paw Patrol. 40% was billed to customer accounts (due November 25) and the rest was received in cash. 16. On October 30. Purr-fect Patty refunds 153 quarters, 4 dimes, 6 nickels, and 5 pennies to two customers that had a bad experience at the Purr-fect Pet Park. It happens! Adjustments On October 31, you notice the following: a) You need to recognize deprecation on the equipment b) You have $802 worth of supplies on hand c) You have accrued salaries of $2,043 d) Your customers owe you $345 for services not yet billed for Pur-fect Paw Patrol services. c) You have used up one months worth of insurance (Patty bought the 9-month policy on September 30) f) You need to recognize interest accumulated on the note payable g) You need to recognize depreciation on the building. Patty bought the building on July 15 . last year. It has an expected life of 35 years and you use straight-line depreciation. h) You need to recognize/acerue federal income taxes of $5,505. The Accounting Cycle 1/2) Analyze \& Journalize transactions 6) Prepare an adjusted trial balance 3) Post to ledger accounts 7) Prepare the financial statements 4) Prepare a trial balance 8) Journalize and post closing entries 5) Journalize and post adjusting entries 9) Prepare a post-closing trial balance
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