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  • May 1cash 35000 0 Shop Equipment 45000 F. Dee, Capital 395000 Initial Investment

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    Madelynne Castillo
    10 views15 pages
    1) The document records transactions from May 1 to 15 that include purchases of equipment, supplies, prepaid expenses, revenue from services, and payment of accounts payable and salaries. 2) Major transactions include the initial investment, purchase of transportation equipment, payment of prepaid rent and insurance, purchase and payment of shop equipment and supplies, billing and collection of service income, and payment of wages. 3) The accounting entries maintain a record of cash balances and changes in asset, liability, equity, income and expense accounts over the period.

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    3-17.pptx

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    1) The document records transactions from May 1 to 15 that include purchases of equipment, supplies, prepaid expenses, revenue from services, and payment of accounts payable and salaries. 2) Major transactions include the initial investment, purchase of transportation equipment, payment of prepaid rent and insurance, purchase and payment of shop equipment and supplies, billing and collection of service income, and payment of wages. 3) The accounting entries maintain a record of cash balances and changes in asset, liability, equity, income and expense accounts over the period.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pptx, pdf, or txt
    10 views15 pages

    May 1cash 35000 0 Shop Equipment 45000 F. Dee, Capital 395000 Initial Investment

    Uploaded by

    Madelynne Castillo
    1) The document records transactions from May 1 to 15 that include purchases of equipment, supplies, prepaid expenses, revenue from services, and payment of accounts payable and salaries. 2) Major transactions include the initial investment, purchase of transportation equipment, payment of prepaid rent and insurance, purchase and payment of shop equipment and supplies, billing and collection of service income, and payment of wages. 3) The accounting entries maintain a record of cash balances and changes in asset, liability, equity, income and expense accounts over the period.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pptx, pdf, or txt
    of 15

    35000

    May 1 Cash 0
    Shop Equipment 45000
    F. Dee,
    Capital 395000
    Initial
    Investment
    6000
    2 Prepaid Rent 0
    350
    Cash 0
    Paid 6 months rent
    1000
    3 Shop Supplies 0
    Accounts Payable- 1000
    AVENSON 0
    Purchased shop supplies
    Accounts Payable- 120
    4 AVENSON 0
    Office Supplies 1200
    Returned supplies due to
    wrong specification
    55000
    5 Transportation Equipment 0
    1650
    Cash 00
    Accounts Payable 3850
    Purchased service van 00
    122
    6 Prepaid Insurance 50
    Cash 12250
    Paid one year
    insurance
    7550
    7 Shop Equipment 0

    1510
    Cash 0
    Accounts Payable 6040
    -KENNETH 0
    Purchased shop
    equipment
    3575
    8 Cash 0
    3575
    Service Income 0
    Collected cash for services
    rendered
    512
    9 Office Supplies 0
    Cash 5120
    Purchased office supplies
    200
    10 Accounts Receivable 00
    Service Income 5000
    Billed clients for services
    rendered
    Accounts Payable-
    11 KENNETH 60400
    Cash 60400
    Paid account in full
    1 500
    2 Cash 0
    Accounts Receivable- 750
    CARMELA 0
    1250
    Service Income 0
    Rendered services to
    client
    Accounts Payable- 385
    13 ASPEN 00

    Cash 38500

    Paid first installment


    of service van
    1 Accounts Payable-
    4 AVENSON 8800
    880
    Cash 0
    Paid account in full
    825
    15 Salaries Expense 0

    Cash 8250

    Paid wages of workers

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