Quick-Start Home RepairCompany completed the following transactions in June 2010. Complete the following expanded table. If...
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Quick-Start Home RepairCompany completed the following transactions in June 2010. Complete the following expanded table. If the transaction does not affect any accounts, leave all fields blank. Total Equity Arrots Liabilitier Equity + Revenuer - Exponsor -Dividendr Date Transactions: Account Amount Account Amount Account Amount Account Amount Account Amount Account Amount June 1 The company was organized and received $200,000 carh from the issuance of capitalstock. June 4 The company paid $48,000 cash for a truck (equipment). June 7 June 9 The company borrowed $10,000 from its bank on a note. Cash received for repair services performeduar $4,500. June 16 The company paid $3,400 in waqortsalarios for the biweekly payroll. June 18 Repairservices performed for a customer who agreed to pay with a month amounted to $5,400. June 25 The company paid $4,065 on its loan from the bank, including $4,050 of principal and $15 of interest. (The June 30 Miscellaneour expenses incurred in aporating the burinors for the month of June were $3,825 and were paid in cash. June 30 An ardor (contract) was received from a customer for repair services to be performed next wook, which will be billed at $3,000. June 30 A dividend of $2,000 war paid to the auners of the company Calculate the total for each account classification for all transaction Total Arrots Total Liabilities Total Equity Combine the equity accounts to compute aringle Total Equity value. Total Combined Equity Calculate Net Income Total Revenues Total Exponsor Total Dividends Equity +Revenue Expenses Dividendr Not Income Revenue Expenses Quick-Start Home RepairCompany completed the following transactions in June 2010. Complete the following expanded table. If the transaction does not affect any accounts, leave all fields blank. Total Equity Arrots Liabilitier Equity + Revenuer - Exponsor -Dividendr Date Transactions: Account Amount Account Amount Account Amount Account Amount Account Amount Account Amount June 1 The company was organized and received $200,000 carh from the issuance of capitalstock. June 4 The company paid $48,000 cash for a truck (equipment). June 7 June 9 The company borrowed $10,000 from its bank on a note. Cash received for repair services performeduar $4,500. June 16 The company paid $3,400 in waqortsalarios for the biweekly payroll. June 18 Repairservices performed for a customer who agreed to pay with a month amounted to $5,400. June 25 The company paid $4,065 on its loan from the bank, including $4,050 of principal and $15 of interest. (The June 30 Miscellaneour expenses incurred in aporating the burinors for the month of June were $3,825 and were paid in cash. June 30 An ardor (contract) was received from a customer for repair services to be performed next wook, which will be billed at $3,000. June 30 A dividend of $2,000 war paid to the auners of the company Calculate the total for each account classification for all transaction Total Arrots Total Liabilities Total Equity Combine the equity accounts to compute aringle Total Equity value. Total Combined Equity Calculate Net Income Total Revenues Total Exponsor Total Dividends Equity +Revenue Expenses Dividendr Not Income Revenue Expenses
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Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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