Leonard Matson completed these transactions during December of the current year. Dec. 1 Began a financial services practice by investing $15,000
cash and office equipment having a $5,000 value.
2 Purchased $1,200 of office equipment on credit
3 Purchased $300 of office supplies on credit
4 Completed work for a dient and immediately received a
Payment of $900 cash.
8 Completed work for Acme Loan Co. on credit, $1,700
10 Paid for the supplies purchased on credit on December 3.
14 Paid for the annual $960 premium on an insurance policy.
18 Received payment in full from Acme Loan Co. for the work
Completed on December 8.
27. Leonard withdrew $650 cash from the practice to pay
personal expenses.
30 Paid $175 cash for the December utility bills.
30 Received $2,000 from a dient for financial services to be rendered
next year
1. Prepare general journal entries to record these transactions (30 points)
2. Prepare general ledger accounts (30 points)
3. Prepare a trial balance (10 points)
4. Prepare an income statement (5 points)
5. Prepare statement of owner's equity (10 points)
6. Prepare a balance sheet (15 points)

For each of the following cases determine the ending balance in the inventory account. (hint: first, determine the total cost of inventory available for sale. next, subtract the cost of the inventory sold to arrive at the ending balance.)a. jill’s dress shop had a beginning balance in its inventory account of $40,000. during the accounting period jill’s purchased $75,000 of inventory, returned $5,000 of inventory, and obtained $750 of purchases discounts. jill’s incurred $1,000 of transportation-in cost and $600 of transportation-out cost. salaries of sales personnel amounted to $31,000. administrative expenses amounted to $35,600. cost of goods sold amounted to $82,300.b. ken’s bait shop had a beginning balance in its inventory account of $8,000. during the accounting period ken’s purchased $36,900 of inventory, obtained $1,200 of purchases allowances, and received $360 of purchases discounts. sales discounts amounted to $640. ken’s incurred $900 of transportation-in cost and $260 of transportation-out cost. selling and administrative cost amounted to $12,300. cost of goods sold amounted to $33,900.a& b. cost of goods avaliable for sale? ending inventory?

When making broccoli cream soup, the broccoli and aromatics should be a. burned. b. simmered. c. puréed. d. sweated.

Happy foods and general grains both produce similar puffed rice breakfast cereals. for both companies, thecost of producing a box of cereal is 45 cents, and it is not possible for either company to lower their productioncosts any further. how can one company achieve a competitive advantage over the other?