subject
Business, 24.10.2019 16:43 Peachyyyyyy978

The accountant for the firm owned by randy guttery prepares financial statements at the end of each month. the following transactions for randy guttery, landscape consultant took place during the month ended june 30, 2019.transactions: a. guttery invested $80,000 in cash to start the business. b. paid $3,000 for the current month’s rent. c. bought office furniture for $8,360 in cash. d. performed services for $4,100 in cash. e. paid $625 for the monthly telephone bill. f. performed services for $7,000 on credit. g. purchased a computer and copier for $19,000; paid $6,500 in cash immediately with the balance due in 30 days. h. received $3,500 from credit clients. i. paid $2,000 in cash for office cleaning services for the month. j. purchased additional office chairs for $2,900; received credit terms of 30 days. k. purchased office equipment for $20,000 and paid half of this amount in cash immediately; the balance is due in 30 days. l. issued a check for $4,700 to pay salaries. m. performed services for $7,250 in cash. n. performed services for $8,000 on credit. o. collected $4,000 on accounts receivable from charge customers. p. issued a check for $1,450 in partial payment of the amount owed for office chairs. q. paid $350 to a duplicating company for photocopy work performed during the month. r. paid $610 for the monthly electric bill. s. guttery withdrew $4,500 in cash for personal expenses. required: prepare a trial balance, an income statement, a statement of owner’s equity, and a balance sheet. assume that the transactions took place during the month ended june 30, 2019. determine the account balances before you start work on the financial statements. analyze: what is the change in owner’s equity for the month of june?

ansver
Answers: 1

Another question on Business

question
Business, 21.06.2019 14:40
Easel manufacturing budgeted fixed overhead costs of $ 1.50 per unit at an anticipated production level of 1 comma 350 units. in july easel incurred actual fixed overhead costs of $ 4 comma 700 and actually produced 1 comma 300 units. what is easel's fixed overhead budget variance for july?
Answers: 2
question
Business, 22.06.2019 17:40
Take it all away has a cost of equity of 11.11 percent, a pretax cost of debt of 5.36 percent, and a tax rate of 40 percent. the company's capital structure consists of 67 percent debt on a book value basis, but debt is 33 percent of the company's value on a market value basis. what is the company's wacc
Answers: 2
question
Business, 22.06.2019 19:00
James is an employee in the widget inspection department of xyz systems, a government contractor. james was part of a 3-person inspection team that found a particular batch of widgets did not meet the exacting requirements of the u.s. government. in order to meet the tight deadline and avoid penalties under the contract, james' boss demanded that the batch of widgets be sent in fulfillment of the government contract. when james found out, he went to the vice president of the company and reported the situation. james was demoted by his boss, and no longer works on government projects. james has a:
Answers: 3
question
Business, 22.06.2019 22:00
What legislation increased the ability for federal authorities to tap telephones and wireless devices, tightened the enforcement of money laundering activities, as well as broadened powers toward acts of terrorism and acts such as drug trafficking?
Answers: 2
You know the right answer?
The accountant for the firm owned by randy guttery prepares financial statements at the end of each...
Questions
Questions on the website: 13722360