Homework Help is Here – Start Your Trial Now!
Business
Accounting
Income Statement Particulars Amount Amount Revenue Business Service Revenue 1,20,000 Expense Office supplies 700 Utilities expense 4,000 Salary expense 30,000 Insurance expense 1,000 Depreciation expense 22,300

Income Statement Particulars Amount Amount Revenue Business Service Revenue 1,20,000 Expense Office supplies 700 Utilities expense 4,000 Salary expense 30,000 Insurance expense 1,000 Depreciation expense 22,300

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question
100%

Please explain,I don't understand.

Income Statement Particulars Amount Amount Revenue Business Service Revenue 1,20,000 Expense Office supplies 700 Utilities expense 4,000 Salary expense 30,000 Insurance expense 1,000 Depreciation expense 22,300 Total (58,000) Net Income transferred 62,000
Transcribed Image Text:Income Statement Particulars Amount Amount Revenue Business Service Revenue 1,20,000 Expense Office supplies 700 Utilities expense 4,000 Salary expense 30,000 Insurance expense 1,000 Depreciation expense 22,300 Total (58,000) Net Income transferred 62,000
The Jirapar CO. Transactions Date Accounting Transaction Thai Baht Supak invested property in company Thiraphat invested cash in company Puchita invested land in company Jan. 27 1,500,000 Jan. 27 2,000,000 500,000 320,000 Jan. 27 Company purchased office equipment on credit Company purchased electrical equipment as 100,000 Baht, but accountant Feb. 1 Feb. 2 paid cash at time of purchase only 10 percent of the total amount Company completed services for customer name Lelawan which she will paid cash to company in the next 30 days Company completed work to Phisamai on credit Company received cash from Phisamai for February 5 work Company paid cash for office equipment purchased on February 1 Supak withdrew cash for personal use Company collected cash for work completed from Panaya Company paid cash for month's utility bill Company paid employee's salary Company purchase insurance premium for six months' Company received payment from Lelawan full amount Thiraphat withfrew cash for personal use Company purchased office suppied by cash Company purchased computer equipment on credit Feb. 3 30,000 Feb. 5 30,000 Feb. 10 Feb. 12 Feb. 17 25,000 Feb. 19 60,000 Feb. 24 4,000 Feb. 28 15,000 Mar. 1 6,000 Mar. 3 Mar. 5 5,000 Mar. 10 2,000 Mar. 12 30,000 Additional items for March 31, 2021 adjusted entries Expired insurance coverage Office supplied on hand at the end of march Computer equipment - depreciation expense for March Unpaid salaries since 1 March Office equipment - depreciation expense per a month (a) 1,000 (b) |(c) |(d) |(e) 1,300 300 15,000 2,000
Transcribed Image Text:The Jirapar CO. Transactions Date Accounting Transaction Thai Baht Supak invested property in company Thiraphat invested cash in company Puchita invested land in company Jan. 27 1,500,000 Jan. 27 2,000,000 500,000 320,000 Jan. 27 Company purchased office equipment on credit Company purchased electrical equipment as 100,000 Baht, but accountant Feb. 1 Feb. 2 paid cash at time of purchase only 10 percent of the total amount Company completed services for customer name Lelawan which she will paid cash to company in the next 30 days Company completed work to Phisamai on credit Company received cash from Phisamai for February 5 work Company paid cash for office equipment purchased on February 1 Supak withdrew cash for personal use Company collected cash for work completed from Panaya Company paid cash for month's utility bill Company paid employee's salary Company purchase insurance premium for six months' Company received payment from Lelawan full amount Thiraphat withfrew cash for personal use Company purchased office suppied by cash Company purchased computer equipment on credit Feb. 3 30,000 Feb. 5 30,000 Feb. 10 Feb. 12 Feb. 17 25,000 Feb. 19 60,000 Feb. 24 4,000 Feb. 28 15,000 Mar. 1 6,000 Mar. 3 Mar. 5 5,000 Mar. 10 2,000 Mar. 12 30,000 Additional items for March 31, 2021 adjusted entries Expired insurance coverage Office supplied on hand at the end of march Computer equipment - depreciation expense for March Unpaid salaries since 1 March Office equipment - depreciation expense per a month (a) 1,000 (b) |(c) |(d) |(e) 1,300 300 15,000 2,000
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Administration and Procedures
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS