User Account

All Pages

Post the transactions into the T-accounts

Assignment Help Accounting Basics
Reference no: EM133105124

Question - Post the following transactions into the T-accounts.

a) Aug 2, 2024- An entrepreneur, Sharon, invests $2,000 cash and $3,000 equipment into her new small business.

b) Aug 6, 2024- Sharon obtains a $3,000 bank loan.

c) Aug 11, 2024- Sharon purchases $1,200 of inventory on account.

d) Aug 14, 2024- Sharon completes a $150 cash jewellery repair for Karen.

e) Aug 18, 2024- Sharon pays a $220 utilities bill.

f) Aug 21, 2024- Sharon completes a $900 sale on account to Hugh. The goods had cost her $400.

g) Aug 25, 2024- Hugh pays half of his owed debt to Sharon.

h) Aug 29, 2024- Sharon repays $750 of her bank loan.

i) Aug 31, 2024- Sharon withdraws $300 cash from her business.

Reference no: EM133105124

Questions Cloud

Find good marketing caption : Think of a tagline for your food product and post it on your social media with a good marketing caption that will engage your target customers to try your produ
Describe the concept of a customer value proposition : Describe the concept of a customer value proposition, and identify which strategy NL should adopt to support its customer value proposition and why
Validity and reliability of data that are being collected : Discuss specific steps that should be taken to ensure the validity and reliability of the data that are being collected.
Identify the environmental scanning tool diana should use : Identify the environmental scanning tool Diana should use to perform a competitive analysis of IHL, and explain your choice of tool
Post the transactions into the T-accounts : Post the following transactions into the T-accounts - Aug 2, 2024- An entrepreneur, Sharon, invests $2,000 cash and $3,000 equipment into her new small business
At what price would you be willing to purchase this stock : If you want to make investment in this stock for 10 years and your required rate of return is 10% per annum, at what price would you willing to purchase stock
Water restrictions force pepsi to cease production : "The blind pursuit of profit at all costs is untenable. It is essential that we make money the right way. After all, if communities suffer as a result of a comp
Understand foreign direct investment : The purpose of this assignment is to enhance the learner's ability to understand foreign direct investment undertaken by a firm and its implications to the host
What is current design of your job : What is the current design of your job? Assume that the opportunity arose for you to utilize the idiosyncratic deals (i-deals) in redesigning your job.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Determine the flexible budget variances

Determine the flexible budget variances and also indicate the effect of each ariance by selecting favorable (F) or unfavorable (U)

  Uas inc and hinson inc have the following operating data

uras inc. and hinson inc. have the following operating data sales juras 160000 hinson 215000 variable

  Prepare journal entries to record the lease transaction

(Leased assets) On January 1, 2012, the chief operating officer of New Belgium, Jeff Stambaugh, signed a noncancellable lease for street equipment.

  What is the direct materials cost per item

You did my the case study of the accounting class but the professor wants me to fill all the answer in the case study paper.

  Why the given item is a material weakness

There is a formal management policy that requires monthly reconciliation of the intercompany accounts; however, there is no process to ensure.

  Prepare the journal entry to record depreciation on December

On July 1, 2019, Crane Company purchased new equipment for $90,000. Prepare the journal entry to record depreciation on December 31, 2019

  What expected return is coca-cola stock offering

At the last minute, Jenna considers investing in Coca-Cola stock at a price of $55.55 per share instead. The stock just paid an annual dividend of $1.76 and she expects the dividend to grow at 4% annually. If the next dividend is due in one ye..

  What amount is capitalizable borrowing cost

Katrina Company obtained a loan of P4,000,000 at an interest rate of 10%, What amount is capitalizable borrowing cost

  Divide the remaining cash amongst the partners

Non-cash assets are sold for $275,000. Profits and losses are shared equally. After all liabilities are paid, divide the remaining cash amongst the partners

  What will be the impact on the company in the future

Abdullah completed a cost-volume-profit analysis for Al Tawfiq Company for the next year. Abdullah notes the decrease in volumes and prepares the breakeven.

  What would be the minimum combined average cost

What would be the minimum combined average cost of sales expressed as a percentage necessary to achieve the cost reduction goal

  What maximum amount could Marie withdraw each month

Marie, an employee at McCormick, has determined that she will need $5500 per month in retirement over a 30-year period. What maximum amount could Marie withdraw

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd