The following transactions pertain to Chef Training Company for 2013: Jan. 30 Established the business when it acquired $37,500 cash from the issue of common stock. Feb. 1 Paid rent for office space for two years, $12,000 cash. Apr. 10 Purchased $2,650 of supplies on account. July 1 Received $25,000 cash in advance for services to be provided over the next year. 20 Paid $900 of the accounts payable from April 10. Aug. 15 Billed a customer $16,000 for services provided during August. Sept. 15 Completed a job and received $9,500 cash for services rendered. Oct. 1 Paid employee salaries of $10,000 cash. 15 Received $12,500 cash from accounts receivable. Nov. 16 Billed customers $37,000 for services rendered on account. Dec. 1 Paid a dividend of $18,500 cash to the stockholders. 31 Adjusted records to recognize the services provided on the contract of July 1. 31 Recorded $2,250 of accrued salaries as of December 31. 31 Recorded the rent expense for the year. (See February 1.) 31 Physically counted supplies; $240 was on hand at the end of the period.Required a. Record the preceding transactions in the general journal. b. Post the transactions to T-accounts and calculate the account balances. c. Prepare a trial balance. d. Prepare the income statement, statement of changes in stockholders’ equity, balance sheet, and statement of cash flows. e. Prepare the closing entries at December 31. f. Prepare a trial balance after the closing entries are posted.View Solution:
The following transactions pertain to Chef Training Company for 2013

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