Menu
support@businesspapershelp.com
+1(805) 568 7317

question required using journal entries prepare journal entries to summarize thetran 4291345

Question

Required

Using Journal entries prepare journal entries to summarize thetransactions entered into by Garjan Corporation during its firstmonth of business. State any assumptions you believe are necessaryin reconstructing the transactions.

Income Statement

For the month ended June 30, 2007

Service revenue ________________________________ 93600

Expenses:

Rent ________________   $9000

Salaries and Wages _____ 27,900

Utilities ______________ 13,800    50,700

Net Income $42,900

Balance Sheet

June 30, 2007

Assets Liabilities and Stakeholders? Equity

Cash ______________ $22800 Accounts Payable ___________$18000

AR ________________ 21600 Notes Payable ______________ 90000

Equipment _________ 18000 Capital Stock _______________30000

Building ___________ 90000 Retained Earnings ___________34800

Land _____________ 24000

Totals         $176400Totals $176400

"Order a similar paper and get 15% discount on your first order with us
Use the following coupon
"GET15"

Order Now