1) A company is established, the owners provide 30,000€. This amount is immediately deposited into the company's banks checking account. * 2. Costs for setting up the business for 800€, were paid from the bank account * 3. A local bank granted us a long-term loan of 100.000€ that was deposited in our bank account. 4. Acquisition of Machinery valued at €22,000, amount due in 30 days. * 5. Sale of merchandise on open account (60 days): €5,000. * 6. The company receives the invoice for the energy expenses of the actual period (€300). The invoice will be paid in 30 days. * 7. Payment to suppliers of Machinery €22,000. (Transaction 4) * 8. One customer pays the amount due (€ 5,000) by bank transfer * 9. The company receives the repair invoice of our machinery (€200). This amount is paid from our bank account * 10. Purchase of merchandise (1.500€) on credit (60 days): * 11. Payment to the suppliers of the previous transaction by check * Requirement 1 Make journal entry Requirement 2. Regarding the trial balance of the exercise. The sum of the first two columns (SUMS Columns) value equals A Amount =188,300€ (Debit and Credit Column) B Amount =135,300€ (Debit and Credit Column) C Amount =188,300€ (Debit Column) and 135,300€ (Credit Column) D Amount =135,300€ (Debit Column) and 188,300€ (Credit Column) E Amount = 175.000 (Debit and Credit Column) F Amount = 175.300 (Debit and Credit Column) Requirement 3. Regarding the trial balance of the exercise. The sum of the last two columns (BALANCE Columns) value equals: A Amount =188,300€ (Debit and Credit Column) B Amount =135,300€ (Debit and Credit Column) C Amount =188,300€ (Debit Column) and 135,300€ (Credit Column) D Amount =135,300€ (Debit Column) and 188,300€ (Credit Column) E Amount = 125.000 (Debit and Credit Column) E Amount = 125.300 (Debit and Credit Column)
1) A company is established, the owners provide 30,000€. This amount is immediately deposited into the company's banks checking account. * 2. Costs for setting up the business for 800€, were paid from the bank account * 3. A local bank granted us a long-term loan of 100.000€ that was deposited in our bank account. 4. Acquisition of Machinery valued at €22,000, amount due in 30 days. * 5. Sale of merchandise on open account (60 days): €5,000. * 6. The company receives the invoice for the energy expenses of the actual period (€300). The invoice will be paid in 30 days. * 7. Payment to suppliers of Machinery €22,000. (Transaction 4) * 8. One customer pays the amount due (€ 5,000) by bank transfer * 9. The company receives the repair invoice of our machinery (€200). This amount is paid from our bank account * 10. Purchase of merchandise (1.500€) on credit (60 days): * 11. Payment to the suppliers of the previous transaction by check * Requirement 1 Make journal entry Requirement 2. Regarding the trial balance of the exercise. The sum of the first two columns (SUMS Columns) value equals A Amount =188,300€ (Debit and Credit Column) B Amount =135,300€ (Debit and Credit Column) C Amount =188,300€ (Debit Column) and 135,300€ (Credit Column) D Amount =135,300€ (Debit Column) and 188,300€ (Credit Column) E Amount = 175.000 (Debit and Credit Column) F Amount = 175.300 (Debit and Credit Column) Requirement 3. Regarding the trial balance of the exercise. The sum of the last two columns (BALANCE Columns) value equals: A Amount =188,300€ (Debit and Credit Column) B Amount =135,300€ (Debit and Credit Column) C Amount =188,300€ (Debit Column) and 135,300€ (Credit Column) D Amount =135,300€ (Debit Column) and 188,300€ (Credit Column) E Amount = 125.000 (Debit and Credit Column) E Amount = 125.300 (Debit and Credit Column)
Chapter3: Analyzing And Recording Transactions
Section: Chapter Questions
Problem 19EB: A business has the following transactions: A. The business is started by receiving cash from an...
Related questions
Question
answer quickly
Transcribed Image Text:1) A company is established, the owners provide 30,000€. This amount is immediately deposited into the company's banks checking
account. *
2. Costs for setting up the business for 800€, were paid from the bank account *
3. A local bank granted us a long-term loan of 100.000€ that was deposited in our bank account. *
4. Acquisition of Machinery valued at €22,000, amount due in 30 days.
5. Sale of merchandise on open account (60 days): €5,000.
6. The company receives the invoice for the energy expenses of the actual period (€300). The invoice will be paid in 30 days. *
7. Payment to suppliers of Machinery €22,000. (Transaction 4) *
8. One customer pays the amount due (€ 5,000) by bank transfer *
9. The company receives the repair invoice of our machinery (€200). This amount is paid from our bank account *
10. Purchase of merchandise (1.500€) on credit (60 days): *
11. Payment to the suppliers of the previous transaction by check *
Requirement 1 Make journal entry
Requirement 2. Regarding the trial balance of the exercise. The sum of the first two columns (SUMS Columns) value equals:
A Amount =188,300€ (Debit and Credit Column)
B Amount =135,300€ (Debit and Credit Column)
C Amount =188,300€ (Debit Column) and 135,300€ (Credit Column)
D Amount =135,300€ (Debit Column) and 188,300€ (Credit Column)
E Amount = 175.000 (Debit and Credit Column)
F Amount = 175.300 (Debit and Credit Column)
Requirement 3. Regarding the trial balance of the exercise. The sum of the last two columns (BALANCE Columns) value
equals:
A Amount =188,300€ (Debit and Credit Column)
B Amount =135,300€ (Debit and Credit Column)
C Amount =188,300€ (Debit Column) and 135,300€ (Credit Column)
D Amount =135,300€ (Debit Column) and 188,300€ (Credit Column)
E Amount = 125.000 (Debit and Credit Column)
F Amount = 125.300 (Debit and Credit Column)
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps with 2 images
Recommended textbooks for you
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College