Question: Screenshot (126).png C Exercise 4-12 X Question 1 - Chapter 4 Assignment X Google Translate ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fnewconnect.mheducation.com%252Fstudent%252Fcl... Chapter 4 Assignment Saved Help Save & Exit +
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Exercise 4-12
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Question 1 - Chapter 4 Assignment X
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Chapter 4 Assignment
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Exercise 4-17 Complete accounting cycle (monthly) LO1, 2, 4, 5
50 points
Emily Lee grew up in Vancouver and loves to be a tourist in her own city. In order to make money to pay for university, she opened a walking tour company, Very Vancouver. The following are transactions for the month of May 2023, the first month of operations
May 1: Emily moved $10,150 from her personal bank account to a business bank account at TD Bank. She also invested a laptop worth $1,044 into the business.
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May 1: Purchased a one-year insurance policy for $1,680 cash.
May 3: Purchased supplies, including a microphone, and brochures for $735 cash.
May 4: Purchased a printer for $468 on account.
May 6: Emily withdrew $261 for a Mother's Day gift.
May 8: Interviewed and hired one employee to assist with leading tours.
May 10: Emily launched a social media campaign for Very Vancouver on Facebook. As a result, she received $2,120 of cash for future tour bookings.
May 15: Led three tours of Stanley Park and received $1,060 cash.
May 25: Led four tours of Granville Island for $1,180. The customers on this tour had prepaid on May 10
The following information is known at May 31, 2023.
The laptop has an estimated life of three years.
The printer has an estimated life of three years.
There are $245 of supplies that are not used.
A portion of the insurance policy has expired.
Wages of $890 were unpaid and unrecorded.
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