The transactions below needs to journalize, TB, general ledge, unadjusted and adjusted balance, balance sheet and income
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The transactions below needs to journalize, TB, general ledge, unadjusted and adjusted balance, balance sheet and income statement.
PS. the transaction dates might not make sense i know but unfortunately this is how our professor gave us and i have tried to make it better. I really do need help with this assignment as soon as possible. Thank you and i appreciate it!
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Transactions of Singh Ski School 1) Amanda invested $40,000 on August for her business 2) Her fiscal year should start on Oct 1st 2017- 3) September 1/2017= Leased the ski resort for $800 monthly starting from the beginning of the September 4) September 1/2017= She prepaid 1 year's rent (September 1,2017-August 31,2018) Cheque for prepaid year's rent = $9,600 5) September 1/2017= Bought computer equipment for $3,600 and she expects that it will last 3 year. 6) September 1/2017-Hired a new sign designer to install it at September 5th to pay $1,000 deposit now, with a total amount of $2,000. 7) September 1/2017- She paid $600 for an advertisement also, to create a website she hires a web designer with a total cost for the software development is $1,500. 8) September 1st Amanda purchases a cash register for $500 with an expected life of 5 years. 9) September 1st Amanda buys coffee supplies for $160 and a postage for $40. 10- September 1= Amanda purchases $50,000 worth of skies, snowboards, bindings, boots, helmets and poles. 11- September 1 She pays $5,000 cash and signs a note payable for $45,000 at 5% for 3 years payments due October 1st and April 1" with the balance of the loan due on August 31 2020. It is expected that the equipment will last 3 years. 12- September 15 Amanda charged group of 30 students $50 each for 1 hour lesson. (30 sales receipt for $50 an hour) 13- September 23= Amanda had 4 groups of 6 and charged them $80 for each group lessons. 14- September 24= Amanda had 2 private lessons at $150/hour, and she was coaching for 200 for a 2 hour session. 15- September 24- She purchased office supplies worth of $500 to use it over the next couple months. 16-September 24- The cash sales report for the month of September shows sales of $3,600 (private lessons of $1,500 and group lessons of $2,100). 17- September 24- She had paid cash delivery charges of $160. Transactions of Singh Ski School 1) Amanda invested $40,000 on August for her business 2) Her fiscal year should start on Oct 1st 2017- 3) September 1/2017= Leased the ski resort for $800 monthly starting from the beginning of the September 4) September 1/2017= She prepaid 1 year's rent (September 1,2017-August 31,2018) Cheque for prepaid year's rent = $9,600 5) September 1/2017= Bought computer equipment for $3,600 and she expects that it will last 3 year. 6) September 1/2017-Hired a new sign designer to install it at September 5th to pay $1,000 deposit now, with a total amount of $2,000. 7) September 1/2017- She paid $600 for an advertisement also, to create a website she hires a web designer with a total cost for the software development is $1,500. 8) September 1st Amanda purchases a cash register for $500 with an expected life of 5 years. 9) September 1st Amanda buys coffee supplies for $160 and a postage for $40. 10- September 1= Amanda purchases $50,000 worth of skies, snowboards, bindings, boots, helmets and poles. 11- September 1 She pays $5,000 cash and signs a note payable for $45,000 at 5% for 3 years payments due October 1st and April 1" with the balance of the loan due on August 31 2020. It is expected that the equipment will last 3 years. 12- September 15 Amanda charged group of 30 students $50 each for 1 hour lesson. (30 sales receipt for $50 an hour) 13- September 23= Amanda had 4 groups of 6 and charged them $80 for each group lessons. 14- September 24= Amanda had 2 private lessons at $150/hour, and she was coaching for 200 for a 2 hour session. 15- September 24- She purchased office supplies worth of $500 to use it over the next couple months. 16-September 24- The cash sales report for the month of September shows sales of $3,600 (private lessons of $1,500 and group lessons of $2,100). 17- September 24- She had paid cash delivery charges of $160.
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Related Book For
Financial and Managerial Accounting
ISBN: 978-0132497978
3rd Edition
Authors: Horngren, Harrison, Oliver
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