The chart of accounts of Angel's Delivery Service of Flin Flon includes the fol- lowing: Cash, 111; Accounts Receivable, 112; Office Equipment, 121; Delivery Trucks, 122; Accounts Payable, 211; Alice Angel, Capital, 311; Alice Angel, Withdrawals, 312; Delivery Fees Earned, 411; Advertising Expense, 511; Gas Expense, 512; Salaries Expense, 513; and Telephone Expense, 514. The follow- ing transactions resulted from Angel's Delivery Service during the month of March 2022: A. Alice invested $40,000 in the business from her personal savings account. B. Bought delivery trucks on account, $25,000. C. Advertising bill was received but not yet paid, $800. D. Bought office equipment for cash, $2,500. E. Received cash for delivery services rendered, $13,000. F. Paid salaries expense, $1,850. G. Paid gas expense for company trucks, $750. H. Billed customers for delivery services rendered, $5,500. I. Paid telephone bill, $400. J. Received $1,600 as partial payment of Transaction H. K. Alice paid her home telephone bill with a company cheque, $88. Hint: you must put this entry into her withdrawal account As Alice's newly employed accountant, you must: 1. Set up T accounts in a ledger. 2. Record transactions in the T accounts. (Place the letter of the transaction next to the entry.) 3. Foot the T accounts where appropriate. 4. Prepare a trial balance at the end of March 2022. 5. Prepare from the trial balance, in proper form, (a) an income statement for the month of March, (b) a statement of owner's equity for the month ended March 31, and (c) a balance sheet as of March 31, 2022. Che Tria
The chart of accounts of Angel's Delivery Service of Flin Flon includes the fol- lowing: Cash, 111; Accounts Receivable, 112; Office Equipment, 121; Delivery Trucks, 122; Accounts Payable, 211; Alice Angel, Capital, 311; Alice Angel, Withdrawals, 312; Delivery Fees Earned, 411; Advertising Expense, 511; Gas Expense, 512; Salaries Expense, 513; and Telephone Expense, 514. The follow- ing transactions resulted from Angel's Delivery Service during the month of March 2022: A. Alice invested $40,000 in the business from her personal savings account. B. Bought delivery trucks on account, $25,000. C. Advertising bill was received but not yet paid, $800. D. Bought office equipment for cash, $2,500. E. Received cash for delivery services rendered, $13,000. F. Paid salaries expense, $1,850. G. Paid gas expense for company trucks, $750. H. Billed customers for delivery services rendered, $5,500. I. Paid telephone bill, $400. J. Received $1,600 as partial payment of Transaction H. K. Alice paid her home telephone bill with a company cheque, $88. Hint: you must put this entry into her withdrawal account As Alice's newly employed accountant, you must: 1. Set up T accounts in a ledger. 2. Record transactions in the T accounts. (Place the letter of the transaction next to the entry.) 3. Foot the T accounts where appropriate. 4. Prepare a trial balance at the end of March 2022. 5. Prepare from the trial balance, in proper form, (a) an income statement for the month of March, (b) a statement of owner's equity for the month ended March 31, and (c) a balance sheet as of March 31, 2022. Che Tria
Financial And Managerial Accounting
15th Edition
ISBN:9781337902663
Author:WARREN, Carl S.
Publisher:WARREN, Carl S.
Chapter1: Introduction To Accounting And Business
Section: Chapter Questions
Problem 3BE: Transactions Interstate Delivery Service is owned and operated by Katie Wyer. The following selected...
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PLEASE DO QUESTIONS 4-5
Transcribed Image Text:P2-6B.) The chart of accounts of Angel's Delivery Service of Flin Flon includes the fol-
lowing: Cash, 111; Accounts Receivable, 112; Office Equipment, 121; Delivery
Trucks, 122; Accounts Payable, 211; Alice Angel, Capital, 311; Alice Angel,
Withdrawals, 312; Delivery Fees Earned, 411; Advertising Expense, 511; Gas
Expense, 512; Salaries Expense, 513; and Telephone Expense, 514. The follow-
ing transactions resulted from Angel's Delivery Service during the month of
March 2022:
A. Alice invested $40,000 in the business from her personal savings account.
B. Bought delivery trucks on account, $25,000.
C. Advertising bill was received but not yet paid, $800.
D. Bought office equipment for cash, $2,500.
E. Received cash for delivery services rendered, $13,000.
F. Paid salaries expense, $1,850.
G. Paid gas expense for company trucks, $750.
H. Billed customers for delivery services rendered, $5,500.
I. Paid telephone bill, $400.
J. Received $1,600 as partial payment of Transaction H.
K. Alice paid her home telephone bill with a company cheque, $88. Hint: you
must put this entry into her withdrawal account
As Alice's newly employed accountant, you must:
1. Set up T accounts in a ledger.
2. Record transactions in the T accounts. (Place the letter of the transaction
next to the entry.)
3. Foot the T accounts where appropriate.
4. Prepare a trial balance at the end of March 2022.
5. Prepare from the trial balance, in proper form, (a) an income statement for
the month of March, (b) a statement of owner's equity for the month ended
March 31, and (c) a balance sheet as of March 31, 2022.
Comprehensive problem
000 (60 min)
Check Figure
Trial balance total $84,300
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