Thanks so much for the quick reponses. Please break them down in the following a
ID: 2372674 • Letter: T
Question
Thanks so much for the quick reponses. Please break them down in the following and I will put answer in a chart when answer rae broken down.
1. (general journal from April 1-5 on page 1) (April 7-18 on page 2, April 21-29 and the first two entries for April 30 on page 3) (and the remaining entires for April 30 on page 4.)
2. general ledger.
3. trial balance on a work sheet
4. complete the work sheet.
5. prepare the income statement.
6. prepare the statement of owner's equity.
7. prepare the balance sheet.
8. journalize the adjusting entries (page5)
9.adjusting entries to the general ledger.
10. journalize the closing entries (pages 5 and 6).
11. closing entries to the general ledger
12. cost closing trail balance.
Explanation / Answer
Apr.1 night invested cash in business 90,000
Dr Cash 90,000
Cr Bob night, capital 90,000
1 paid insurance premium for camping season 9,000
Dr Prepaid Insurance 9,000
Cr Cash 9,000
2 paid rent for lodge and campgrounds for the month of April 40,000
Dr Rent Expense 40,000
Cr Cash 40,000
2 deposited registration fees 35,000
Dr Cash 35,000
Cr Registration Fees 35,000
2 purchased 10 fishing boats on account for 60,000 boats have been estimated useful lives of five years at which time they will be donated to a local day camp arrangements were made to pay for the boats in July
Dr Fishing Boats 60,000
Cr Accounts Payable 60,000
3 purchased food supplies from acme super market account 7,000
Dr Food Supplies 7,000
Cr Accounts Payable 7,000
purchased office supplies from Gordon office supplies on account 500
Dr Office Supplies 500
Cr Accounts Payable 500
7 deposited registration fees 38,600
Dr Cash 38,600
Cr Registration Fees 38,600
10 purchase food supplies from acne super market on account 8,200
Dr Food Supplies 8,200
Cr Accounts Payable 8,200
10 paid wages to fishing guides 10,000
Dr Wages Expense 10,000
Cr Cash 10,000
14 deposited registration fees 30,500
Dr Cash 30,500
Cr Registration Fees 30,500
16 purchased food supplies from acne super market on account 9,000
Dr Food Supplies 9,000
Cr Accounts Payable 9,000
17 paid wages to fishing guides 10,000
Dr Wages Expense 10,000
Cr Cash 10,000
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