FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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| Mar. | 1 | Fisher invested $237,000 cash along with $24,900 in office equipment in the company. | ||
| Mar. | 2 | The company prepaid $8,000 cash for six months’ rent for an office. The company's policy is to record prepaid expenses in |
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| Mar. | 3 | The company made credit purchases of office equipment for $5,900 and office supplies for $4,100. Payment is due within 10 days. | ||
| Mar. | 6 | The company completed services for a client and immediately received $6,900 cash. | ||
| Mar. | 9 | The company completed a $10,400 project for a client, who must pay within 30 days. | ||
| Mar. | 12 | The company paid $10,000 cash to settle the account payable created on March 3. | ||
| Mar. | 19 | The company paid $9,700 cash for the premium on a 12-month insurance policy. The company's policy is to record prepaid expenses in balance sheet accounts. | ||
| Mar. | 22 | The company received $6,200 cash as partial payment for the work completed on March 9. | ||
| Mar. | 25 | The company completed work for another client for $6,800 on credit. | ||
| Mar. | 29 | Fisher withdrew $5,600 cash from the company for personal use. | ||
| Mar. | 30 | The company purchased $1,100 of additional office supplies on credit. | ||
| Mar. | 31 | The company paid $1,000 cash for this month’s utility bill. |
Using the dropdown buttons, select the financial statement elements and account titles to be included on the balance sheet. The account balances will automatically populate.
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