Chat with us, powered by LiveChat Using the trial balance prepared in Part 4 of Prob - Writemia

Using the trial balance prepared in Part 4 of Prob

Using the trial balance prepared in Part 4 of Problem 2-9B, prepare an income statement and statement of changes in equity for the two months ended July 31, 2014, and a balance sheet at July 31, 2014. In problem 2-9B At the beginning of June 2014, Brett Wilson created a moving company called Frog Box Company. The company had the following transactions during July, its second month of operations: July 1 Purchased office equipment for $9,000 and a truck for $56,000 by signing a long-term note payable. 2 Purchased land for an office. The land was worth $124,000, which was paid with $40,800 cash and a long-term note payable for the balance. 3 Purchased a used portable building with $21,000 cash and moved it onto the land. 5 Paid $9,600 cash for the premiums on two one-year insurance policies. 9 Provided services to a client and collected $3,200 cash. 12 Purchased additional office equipment for $6,500. Paid $700 cash and signed a long-term note payable for the balance. 15 Completed $3,750 of services for a client. This amount is due within 30 days. 20 Completed another hauling job for $9,200 on credit. 21 Received a bill for rent on a specialized hauling truck that was used to complete the job done on July 20. The $1,300 rent must be paid within 30 days. 22 Collected $5,000 from the client described in the transaction on July 20. 23 Paid $1,600 wages to an assistant. 24 Paid the account payable created in the transaction of July 21. 25 Paid $1,

Do you need an answer to this or any other questions?

About Writemia

We are a professional paper writing website. If you have searched a question and bumped into our website just know you are in the right place to get help in your coursework. We offer HIGH QUALITY & PLAGIARISM FREE Papers.

How It Works

To make an Order you only need to click on “Place Order” and we will direct you to our Order Page. Fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.

Are there Discounts?

All new clients are eligible for 20% off in their first Order. Our payment method is safe and secure.

Hire a tutor today CLICK HERE to make your first order