The transactions below needs to journalize, TB, general ledge, unadjusted and adjusted balance, balance sheet...
50.1K
Verified Solution
Question
Accounting
The transactions below needs to journalize, TB, general ledge, unadjusted and adjusted balance, balance sheet and income statement. PS. the transaction dates might not make sense i know but unfortunately this is how our professor gave us and i have tried to make it better. I really do need help with this assignment as soon as possible. Thank you and i appreciate it!
ps. whichever can do with the info given, i am okay with that Transactions of Singh Ski School 1) Amanda invested $40,000 on August for her business 2) -Her fiscal year should start on Oct 1 2017- 3) September 1/2017= Leased the ski resort for $800 monthly starting from the beginning of the September 4) September 1/2017= She prepaid 1 year's rent (September 1,2017-August 31,2018) Cheque for prepaid year's rent = $9,600 5) September 1/2017= Bought computer equipment for $3,600 and she expects that it will last 3 year. 6) September 1/2017=Hired a new sign designer to install it at September 5th to pay $1,000 deposit now, with a total amount of $2,000. 7) September 1/2017= She paid $600 for an advertisement also, to create a website she hires a web designer with a total cost for the software development is $1,500. 8) September 1st Amanda purchases a cash register for $500 with an expected life of 5 years. 9) September 1st-Amanda buys coffee supplies for $160 and a postage for $40. 10- September 14- Amanda purchases $50,000 worth of skies, snowboards, bindings, boots, helmets and poles. 11- September 1H=She pays $5,000 cash and signs a note payable for $45,000 at 5% for 3 years payments due October 1s and April 1st with the balance of the loan due on August 319 2020. It is expected that the equipment will last 3 years. 12- September 15= Amanda charged group of 30 students $50 each for 1 hour lesson ( 30 sales receipt for $50 an hour) 13- September 23= Amanda had 4 groups of 6 and charged them $80 for each group lessons. 14- September 245 Amanda had 2 private lessons at $150/hour, and she was coaching for 200 for a 2 hour session. 15- September 24- She purchased office supplies worth of $500 to use it over the next couple months. 16- September 24+ The cash sales report for the month of September shows sales of $3,600 (private lessons of $1,500 and group lessons of $2,100). 17. September 24= She had paid cash delivery charges of $160. 18- On October 3rd the utilities bill of $325 for September's usage was received and paid on the due date of October 15th. 19- September 25= Amanda received deposit of $10,000 for lessons to be given on October 20- September 25= She hires 2 instructor for part-time work on the weekends for $20 hour and the instructors will start at October 7. 21- September 26= Amanda withdraws $2,000 from her business account for personal use. 22- As September 30th is Amanda's fiscal year end, all other required adjusting entries must made. The books must be closed, in preparation for the new fiscal year starting at October 1st ADJUSTMENTS 1- September 20th= Psychical count of office supplies shows that there are $150 worth of supplies left. B D E G H J L M 1 2 Singh Ski School Worksheet As at September 30th, 2017 3 4 5 Trial Balance Debit Adjustments Debit Adjusted Trial Balance Debit Credit Income Statement Debit Credit Balance Sheet Debit Credit Credit Credit 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 26 27 28 29 30 31 32 34 35 36 37 Transactions Add Info Analyze Journalize Post GL students Summarize in TB Worksheet + Transactions of Singh Ski School 1) Amanda invested $40,000 on August for her business 2) -Her fiscal year should start on Oct 1 2017- 3) September 1/2017= Leased the ski resort for $800 monthly starting from the beginning of the September 4) September 1/2017= She prepaid 1 year's rent (September 1,2017-August 31,2018) Cheque for prepaid year's rent = $9,600 5) September 1/2017= Bought computer equipment for $3,600 and she expects that it will last 3 year. 6) September 1/2017=Hired a new sign designer to install it at September 5th to pay $1,000 deposit now, with a total amount of $2,000. 7) September 1/2017= She paid $600 for an advertisement also, to create a website she hires a web designer with a total cost for the software development is $1,500. 8) September 1st Amanda purchases a cash register for $500 with an expected life of 5 years. 9) September 1st-Amanda buys coffee supplies for $160 and a postage for $40. 10- September 14- Amanda purchases $50,000 worth of skies, snowboards, bindings, boots, helmets and poles. 11- September 1H=She pays $5,000 cash and signs a note payable for $45,000 at 5% for 3 years payments due October 1s and April 1st with the balance of the loan due on August 319 2020. It is expected that the equipment will last 3 years. 12- September 15= Amanda charged group of 30 students $50 each for 1 hour lesson ( 30 sales receipt for $50 an hour) 13- September 23= Amanda had 4 groups of 6 and charged them $80 for each group lessons. 14- September 245 Amanda had 2 private lessons at $150/hour, and she was coaching for 200 for a 2 hour session. 15- September 24- She purchased office supplies worth of $500 to use it over the next couple months. 16- September 24+ The cash sales report for the month of September shows sales of $3,600 (private lessons of $1,500 and group lessons of $2,100). 17. September 24= She had paid cash delivery charges of $160. 18- On October 3rd the utilities bill of $325 for September's usage was received and paid on the due date of October 15th. 19- September 25= Amanda received deposit of $10,000 for lessons to be given on October 20- September 25= She hires 2 instructor for part-time work on the weekends for $20 hour and the instructors will start at October 7. 21- September 26= Amanda withdraws $2,000 from her business account for personal use. 22- As September 30th is Amanda's fiscal year end, all other required adjusting entries must made. The books must be closed, in preparation for the new fiscal year starting at October 1st ADJUSTMENTS 1- September 20th= Psychical count of office supplies shows that there are $150 worth of supplies left. B D E G H J L M 1 2 Singh Ski School Worksheet As at September 30th, 2017 3 4 5 Trial Balance Debit Adjustments Debit Adjusted Trial Balance Debit Credit Income Statement Debit Credit Balance Sheet Debit Credit Credit Credit 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 26 27 28 29 30 31 32 34 35 36 37 Transactions Add Info Analyze Journalize Post GL students Summarize in TB Worksheet +
The transactions below needs to journalize, TB, general ledge, unadjusted and adjusted balance, balance sheet and income statement.
PS. the transaction dates might not make sense i know but unfortunately this is how our professor gave us and i have tried to make it better. I really do need help with this assignment as soon as possible. Thank you and i appreciate it!



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!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.