due at 11:59 please help!! Using the following economic events,...

60.1K

Verified Solution

Question

Accounting

due at 11:59 please help!! image
image
Using the following economic events, record the transactions ( 10pts ) for the year and fill in the associated financial statements ( 5 pts) 1) On 1/1/23 Company F received cash by selling $250,000 in stock. 2) On 1/1/23 Company F got a $75,000 loan from Ally Bank. 3) On 1/10/23 Company F purchased $55,000 worth of equipment for its office. 4) On 2/1/23 Company F paid $90,000 for a 1 -year lease on an office space. 5) On 2/1/23 Company F purchased $40,000 worth of supplies. 6) On 3/1/23 Company F received $66,000 cash from Customer B to perform services for the next 2 years. 7) On 7/1/23 Company F paid its employees $60,000 for work performed in the first half of the year. 8) On 7/1/23 Company F billed but did not receive cash for services already performed for customer C, $75,000; customer D,$30,000; and customer E,$100,000. Total billed $205,000. 9) On 8/1/23 customer E and C paid Company F a total of $175,000 for services performed, completely paying their invoices. 10) On 10/1/23 customer D paid half of their invoice to Company F. Customer D owed 30,000. 11) On 12/31/23 Company F owed its employees $60,000 for work performed in the second half of the year. To reduce columns, use Accounts Payable instead of Salary Payable. 12) On 12/31/23 Company F paid its utility bill, totaling 11,000 . 13) On 12/31/23 Company F paid dividends to its stockholders of $5,000. 14) On 12/31/23 Company F had $28,000 of supplies remaining. 15) On 12/31/23 Company F recorded rent expense for 2023. 16) On 12/31/23 Company F recorded revenue earned in 2023 (See transaction 6 )

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students