Accounting Assignment yeee

Accounting Assignment yeee - PART A) Transactions that...

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PART A) Transactions that occurred during 2013 Transaction Number Date Transaction Column3 Column4 Column5 Debit Cre i August Prepaid rent 5,400 Cash To record purchase of new lease i January- October1 Rent expense 7,500 Cash To record rent paid ii 31-Dec Cash 85,000 Accounts receivable 56,000 Sales To record sales for the year iii 31-Dec Equipment 9,000 Cash To record the purchase of new equipment
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iv 31-Dec Inventory 39,000 Accounts payable To record the purchase of new inventory on credit v 31-Dec Cash 48,750 Accounts receivable To record collection of accounts receivable vi 31-Dec Accounts payable 18,000 Cash To record the payment to suppliers for inventory purchased vi 31-Dec Accounts payable 19,500 Cash To record the payment to suppliers for inventory
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purchased in 2012 vii 02-Mar Cash 6,000 Bank loan To record the $6,000 bank loan viii 31-Dec Retained earnings 22,500 Cash To record the payment of cash dividends of $22,500 to its shareholders ix 31-Dec Wages expense 66,750 Cash To record salaries paid x 31-Dec Other expenses 25,250 Cash To record the payment of other expenses xi 31-Dec Taxes payable 2,250 Cash
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To record the payment of taxes payable xii 31-Dec Cash 7,500 Unearned revenue To record cash received for future services xiii 31-Dec Interest payable 300 Cash To record the payment of interest from fiscal 2012 xiii 31-Dec Interest expense 1,200 Cash To record the interest expense for 2013
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Investors’ primary concern, before investing in an entity, is ensuring they receive an abundant return on their initial investments. In order to come up with a decision on whether or not to invest in an entity, an investor must first analyze the entity’s current financial situation and be able to predict with accuracy its future financial position. In the case of Gary’s Computer Maintenance Ltd, an investor must look at the following for a
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This note was uploaded on 03/22/2012 for the course ACTG 2010 taught by Professor Sandyqu during the Spring '10 term at York University.

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Accounting Assignment yeee - PART A) Transactions that...

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