Marisa Toméi is the owner of the organization “Toméi Expert Cooking”.  She started her business on April 1st2020.   During the month of April, the following transactions occurred :   1) April 1 : The owner invested $5,100 cash in the organization. 2) April 5 : Purchased a computer at “Apple store”, value $1,200.  She had to pay (in cash) 10% of the computer value before leaving the store with the computer. 3) April 16 : Rendered cooking services for a client on credit, $850. 4) April 20 : Paid an insurance premium, $600, for the month of April. 5) April 21 : The owner took 325$ from the organization bank account 6) April 23 : Completed cooking work for a client on credit, $11,900. 7) April.24 : Paid 400$ to “Apple store” 8) April 25 : Received from customer 42% (cash) of April 16 amount. 9) April 27 : Paid $700 for the office rental space for April. 10) April 30 : Paid electricity, $2,000 Required ✓ Prepare journal entries and T accounts   ✓ Produce Trial balance and Financial statements (3 usual statements)   Prepathe closing journal entry

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Marisa Toméi is the owner of the organization “Toméi Expert Cooking”.  She started her business on April 1st2020.

 

During the month of April, the following transactions occurred :

 

1) April 1 : The owner invested $5,100 cash in the organization.
2) April 5 : Purchased a computer at “Apple store”, value $1,200.  She had to pay (in cash) 10% of the computer value before leaving the store with the computer.
3) April 16 : Rendered cooking services for a client on credit, $850.
4) April 20 : Paid an insurance premium, $600, for the month of April.
5) April 21 : The owner took 325$ from the organization bank account
6) April 23 : Completed cooking work for a client on credit, $11,900.
7) April.24 : Paid 400$ to “Apple store”
8) April 25 : Received from customer 42% (cash) of April 16 amount.
9) April 27 : Paid $700 for the office rental space for April.
10) April 30 : Paid electricity, $2,000

Required

✓ Prepare journal entries and T accounts

 

✓ Produce Trial balance and Financial statements (3 usual statements)

 

Prepathe closing journal entry 
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