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FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Help please.

Transcribed Image Text:The Puchita CO.
Transactions
Date
Accounting Transaction
Thai Baht
Pakanan invested cash in company
Jan. 27
Jan. 27
Jan. 27
1,250,000
Porrarat invested cash in company
1,300,000
Jun Li invested computer equipment in company
450,000
Feb. 1
Feb. 2
Feb. 3
Feb. 5
Feb. 10
Feb. 12
Company puchased annual insurance premium
Company purchased office equipment on credit
Company paid for two month's rent
Company purchased office supplies on credit
Company paid cash for February cleaning services
Company purchased electrical equipment total price as 60,000 Baht, but on
this date company paid cash to the seller only 40000 Baht
Company completed services and received cash
Company provided services to Jinnipa on credit
Company paid cash for purchasing office equipment on credit on Jan. 29
Company completed services to Pongsiri and she will paid in next 30 days
Company collected cash for work completed from Rawin
Company paid for employees's salary (since Jan. 27 until Feb. 28)
Company received cash from Jinnipa for service provided on Feb.19
Company paid cash for purchasing supplies on credit on Feb. 5
Jun Li withdraw cash for personal use
Porarat withdraw cash for personal use
12,000
610,000
12,000
30,000
2,500
60,000
40,000
Feb. 17
Feb. 19
Feb. 24
Feb. 26
14,000
10,000
61,000
12,000
Mar. 3
Mar. 5
Mar. 10
Mar. 12
Mar. 17
Mar. 19
3,000
30,000
10,000
30,000
6,400
14,000
(a)
(b)
(c)
(d)
(e)
Additional items for March 31, 2021 adjusted entries
Expired insurance coverage
Office supllied on hand at the end of march
Computer equipment - depreciation expense for two month
Unpaid salaries since 1 March
Office equipment - depreciation expense for two month
2,000
10,000
9,000
30,000
6,100
Use the given data of the Puchita CO. to prepare the following requirements
1. Prepare the general journal for all transactions since begin the company and 5
additional items for March 31, 2021 adjusted entries
2. Prepare the income statement
3. Prepare Statement of owner's equity
4. Calculate current ratio
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