Rapid Pick Up & Delivery, Inc., was organized January 1. Jan. 1 The...

60.1K

Verified Solution

Question

Accounting

Rapid Pick Up & Delivery, Inc., was organized January 1.
Jan. 1 The company received $560,000 cash and $240,000 of office furniture in exchange for $800,000 of capital stock.
2 Paid garage rent for January, $6,000.
4 Purchased computers on account, $13,200.
6 Purchased delivery trucks for $280,000; payment was made by giving cash of $ 150,000 and a 30-day note for the remainder.
Jan 12 Purchased insurance for January on the delivery trucks. The cost of the policy, $800, was paid in cash.
15 Received and paid January utilities bills, $960.
15 Paid salaries for first half of January, $3,600.
17 Cash received for delivery services to date amounted to $1,800.
20 Received bill for gasoline purchased and used in January, $ 180.
23 Purchased delivery trucks for cash, $108,000.
25 Cash sales of delivery services were $2,880.
27 Purchased a copy machine on account, $3,600.
31 Paid salaries for last half of January, $4,800.
31 Sales of delivery services on account amounted to $11,400.
31 Paid for repairs to a delivery truck, $ 1,120.
Prepare the following in Excel:
image

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