The following entries are for the month of December 1, 2014 for HyperWave Surf Co. a...

   

Transcribed Image Text:

The following entries are for the month of December 1, 2014 for HyperWave Surf Co. a beach-side surfboard cleaning company opened in San Diego. In this assignment your task is to prepare all the steps of the accounting cycle for the following economic events. Record all events in an excel spreadsheet using appropriate formatting. ● ● ● . ● ● . Dec, 1: A business owner invested $10,000 cash to start Hyper Surfco. Dec, 2: A business owner purchased a surf waxing shack on the beach for $5,000 using cash Dec, 5: business owner purchased equipment to clean the surfboards for $2000 on account. Dec, 22: A business owner purchased equipment to make surfboards for $1000 in cash. Dec, 23: A business owner cleaned three surfboards and made $60 in cash. Dec. 24: A business owner cleaned nine surfboards and made $180 in cash. Dec. 25: A business owner bought Christmas decorations for $100 on credit. Dec. 25: A business owner earned $200 in revenue on account. Dec. 26: A business owner earned $180 in revenue on account. Dec. 27: A business owner received payment of $220 of outstanding money owed. Dec. 28: A business owner a salaries of $400. Dec. 29: A business owner received $420 in revenue. Dec. 30: A business owner withdrew $100 in cash from his business. Required a.) journal entries, b.) general ledger c.) trial balance d.) adjusting entries e.) adjusted trial balance f.) financial statements g.) closing entries h.) post-closing trial balance The following entries are for the month of December 1, 2014 for HyperWave Surf Co. a beach-side surfboard cleaning company opened in San Diego. In this assignment your task is to prepare all the steps of the accounting cycle for the following economic events. Record all events in an excel spreadsheet using appropriate formatting. ● ● ● . ● ● . Dec, 1: A business owner invested $10,000 cash to start Hyper Surfco. Dec, 2: A business owner purchased a surf waxing shack on the beach for $5,000 using cash Dec, 5: business owner purchased equipment to clean the surfboards for $2000 on account. Dec, 22: A business owner purchased equipment to make surfboards for $1000 in cash. Dec, 23: A business owner cleaned three surfboards and made $60 in cash. Dec. 24: A business owner cleaned nine surfboards and made $180 in cash. Dec. 25: A business owner bought Christmas decorations for $100 on credit. Dec. 25: A business owner earned $200 in revenue on account. Dec. 26: A business owner earned $180 in revenue on account. Dec. 27: A business owner received payment of $220 of outstanding money owed. Dec. 28: A business owner a salaries of $400. Dec. 29: A business owner received $420 in revenue. Dec. 30: A business owner withdrew $100 in cash from his business. Required a.) journal entries, b.) general ledger c.) trial balance d.) adjusting entries e.) adjusted trial balance f.) financial statements g.) closing entries h.) post-closing trial balance

Answer rating: 100% (QA)

Journal Entries Date Account Debit Credit Dec 1 Cash 10000 Common Stock Dec 2 Surf Waxing Shack 5000 Cash Dec 5 Equipment 2000 Accounts Payable Dec 5 ... View the full answer