Sol ACCT 216 week 2 homework
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Sol ACCT 216 week 2 homework
Week 2 Homework
- Please write a four-to-six sentence paragraph on the following question. Describe each of the four basic financial statements. What is the relationship between them?
- During the first month of operations (March 2013), Jiffy Enterprises completed the following selected transactions:
- The business received $19,000 in cash and a building valued at $59,000. The corporation issued stock to the contributors of these.
- Borrowed $16,800 from the bank and signed a note payable to them
- Paid $19,000 for equipment
- Purchased supplies on account for $900
- Paid employees’ salaries of $9,100
- Performed services for customer on account, $9,800
- Paid $150 of the accounts payable in transaction d above
- Received a $750 bill for advertising expense that will be paid in the near future
- Received cash on account, $1,600
- Paid rent of $1,600
Required:
- Prepare the journal entries for the above transactions.
- Prepare the trial balance sheet of Jerry Enterprises as of March 31, 2013.
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Basic Information
Price
4.99
Uploaded on
Jan. 7, 2023
Subject
Accounting
Course Code
acct-216
Attachments
1 Files
Institution
None