Helen started a computer programming business (12/2016), Helen’s Programming Service. The following transactions occurred during December, 2016:   1/12: Helen invested $120,000. 1/12: Paid the rent for the next 12 months $24,000. 1/12: Purchased equipment for $15,000 on credit 2/12: Purchased supplies on credit for $1,500. 3/12: Purchased a computer for $8,500 in cash. 5/12: Received cash for programming services performed, $3,100. 6/12: Received cash for programming services to be performed, $2,300. 10/12: Billed a customer for programming services performed, $1, 600. 10/12: Paid 50% of purchased supplies on credit on 2/12 15/12: Paid 60% of purchased equipment on credit on 1/12   Required: Record the transactions in the general journal for 2017. Post the transactions to the ledger (T accounts) and calculate closing balances of the accounts Prepare a trial balance on 31, December

(The following information applies to the questions displayed below.] While completing undergraduate school work in information systems, Dallin Bourne and Michael Banks decided to start a technology support company called eSys Answers. During year 1, they bought the following assets and incurred the following start-up fees: Year 1 Assets Purchase Date Basis Computers (5-year) Office equipment (7-year) Furniture (7-year) Start-up costs October 30, Year 1 October 30, Year 1 $ 15,000 10,000 October 30, Year 1 October 30, Year 1 3,000 17,000 In April of year 2, they decided to purchase a customer list from a company providing virtually the same services, started by fellow information systems students preparing to graduate. The customer list cost $10,000, and the sale was completed on April 30. During their summer break, Dallin and Michael passed on internship opportunities in an attempt to really grow their business into something they could do full time after graduation. In the summer,…

Fred Tang is a property investor.  He owns an apartment at Harbord, and a house at Glebe which have been leased to tenants for several years.  He also owns land in Shellharbour. Fred received the following amounts in respect of the Harbord and Glebe properties:   Receipts   Rent Income (net of agent's commission $5,200) $  64,250 Rent received from the rental bond board, which represented unpaid rent from April 2015   1,640 Water usage component of water rates paid recouped from tenant 1,040 Settlement from a tenant that was held to have breached the terms of the lease.  The settlement included $10,400 which was in respect of a garage that had to be completely rebuilt.  The balance was unpaid rent   13,400     Deductions   Water & Council Rates 3,200 Cleaning of properties after tenants vacated 740 Landscaping at Glebe property 5,000 Building insurance 380 Repairs and Maintenance 4,400 Decline in Value…

In November 2017, after having incorporated Cookie Creations Inc., Natalie begins operations. She has decided not to pursue the offer to supply cookies to Biscuits. Instead, she will focus on offering cooking classes. The following events occur. Nov.    8  Natalie cashes in her U.S. Savings Bonds and receives $520, which she deposits in her personal bank account.            8  Natalie opens a bank account for Cookie Creations Inc.            8  Natalie purchases $500 of Cookie Creations’ common stock.         11  Cookie Creations purchases paper and other office supplies for $95. (Use Supplies.)         14  Cookie Creations pays $125 to purchase baking supplies, such as flour, sugar, butter, and chocolate chips. (Use Supplies.)         15  Natalie starts to gather some baking equipment to take with her when teaching the cookie classes. She has an excellent top-of-the-line food processor and mixer that           originally cost her $550. Natalie decides to start using it only in her new…