1 answer

March 2, 2019<<Your Name>>investment9 000 $ to open a business call, <<Your Name>>, consultant. March 3,...

Question:

  1. March 2, 2019<<Your Name>>investment9 000 $ to open a business call, <<Your Name>>, consultant.
  2. March 3, 2019you spend 2 500$ cash to buy computer Equipment.
  3. March 4,2019you spend 5 600 $ cash to buy office equipment.
  4. March 6,2019you buy on accountComputer Equipmentfor 380 $ andOffice equipment for 1 280 $.
  5. March 9, 2019you receive Professional Fees of 2 200 $ in cash
  6. March10, 2019you pay the rent 1 000 $.
  7. March14,2019you prepare the salary for the secretary. Gross Income is $700.
  8. March 16, 2019you have provided Professional Fees of 1 700 $ on account
  9. March 20, 2019 you receive total payment 1 700 $ from client for services ofMarch 16, 2019
  10. March21,2019you make a partial payment of 900 $ on purchase made March 6, 2019
  11. March 22,2019you make a withdraw of 1 100 $ for personal use

Note: In this practice, you need to calculate the deductions and charges related to salary and add the required account. Salary is for 2 weeks

  1. Prepare the General Journal.
  2. Prepare General Ledger.
  3. Prepare the Income Statement.
  4. Prepare the Statement of Owner’s Equity.
  5. Prepare the Balance Sheet.

Answers

Regarding deduction and charges of salary, I will need more information for the same. For now, I have considered $700 as salary payable.

Please refer the following images for solution.

All amounts are in $.

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