- The Following Events Occurred Gargantuan S First Year Of Operations 1 Acquired 37 000 Cash From The Issue Of Common S 1 (64.08 KiB) Viewed 39 times
- The Following Events Occurred Gargantuan S First Year Of Operations 1 Acquired 37 000 Cash From The Issue Of Common S 2 (37.9 KiB) Viewed 39 times
- The Following Events Occurred Gargantuan S First Year Of Operations 1 Acquired 37 000 Cash From The Issue Of Common S 3 (46.37 KiB) Viewed 39 times
- The Following Events Occurred Gargantuan S First Year Of Operations 1 Acquired 37 000 Cash From The Issue Of Common S 4 (45.89 KiB) Viewed 39 times
- The Following Events Occurred Gargantuan S First Year Of Operations 1 Acquired 37 000 Cash From The Issue Of Common S 5 (46.18 KiB) Viewed 39 times
- The Following Events Occurred Gargantuan S First Year Of Operations 1 Acquired 37 000 Cash From The Issue Of Common S 6 (39.51 KiB) Viewed 39 times
- The Following Events Occurred Gargantuan S First Year Of Operations 1 Acquired 37 000 Cash From The Issue Of Common S 7 (42.81 KiB) Viewed 39 times
- The Following Events Occurred Gargantuan S First Year Of Operations 1 Acquired 37 000 Cash From The Issue Of Common S 8 (43.94 KiB) Viewed 39 times
- The Following Events Occurred Gargantuan S First Year Of Operations 1 Acquired 37 000 Cash From The Issue Of Common S 9 (43.98 KiB) Viewed 39 times
- The Following Events Occurred Gargantuan S First Year Of Operations 1 Acquired 37 000 Cash From The Issue Of Common S 10 (41.61 KiB) Viewed 39 times
- The Following Events Occurred Gargantuan S First Year Of Operations 1 Acquired 37 000 Cash From The Issue Of Common S 11 (44.45 KiB) Viewed 39 times
- The Following Events Occurred Gargantuan S First Year Of Operations 1 Acquired 37 000 Cash From The Issue Of Common S 12 (42.96 KiB) Viewed 39 times
- The Following Events Occurred Gargantuan S First Year Of Operations 1 Acquired 37 000 Cash From The Issue Of Common S 13 (56.36 KiB) Viewed 39 times
- The Following Events Occurred Gargantuan S First Year Of Operations 1 Acquired 37 000 Cash From The Issue Of Common S 14 (56.61 KiB) Viewed 39 times
- The Following Events Occurred Gargantuan S First Year Of Operations 1 Acquired 37 000 Cash From The Issue Of Common S 15 (33.64 KiB) Viewed 39 times
- The Following Events Occurred Gargantuan S First Year Of Operations 1 Acquired 37 000 Cash From The Issue Of Common S 16 (59.27 KiB) Viewed 39 times
- The Following Events Occurred Gargantuan S First Year Of Operations 1 Acquired 37 000 Cash From The Issue Of Common S 17 (32.49 KiB) Viewed 39 times
- The Following Events Occurred Gargantuan S First Year Of Operations 1 Acquired 37 000 Cash From The Issue Of Common S 18 (45.09 KiB) Viewed 39 times
The following events occurred Gargantuan's first year of operations: 1. Acquired $37,000 cash from the issue of common stock on January 1, 2018. 2. Purchased $1,650 of supplies on account. 3. Paid $6,240 cash in advance for a one-year lease on office space. 4. Earned $45,350 of revenue on account. 5. Incurred $15,050 of other operating expenses on account. 6. Collected $32,500 cash from accounts receivable. 7. Paid $9,850 cash on accounts payable. 8. Paid a $4,700 cash dividend to the stockholders. Adjusting Entries information 9. There was $320 of supplies on hand at the end of the accounting period. 10. The lease on the office space covered a one-year period beginning November 1. 11. There was $5,300 of accrued salaries at the end of the period. Required a. Record these transactions in general journal form. b. Post the transaction data from the journal to ledger T-accounts. c. Prepare a trial balance. d-1. Prepare an income statement. d-2. Prepare a statement of changes in stockholders' equity. d-3. Prepare a balance sheet. d-4. Prepare a statement of cash flows.
Journal entry worksheet < 1 2 3 4 5 6 7 8 ***** 11 Acquired $37,000 cash from the issue of common stock on January 1, 2018. Note: Enter debits before credits. Event General Journal Debit Credit Clear entry View general journal Req B Record entry Req A >
Journal entry worksheet < 2 3 Purchased $1,650 of supplies on account. Note: Enter debits before credits. Event General Journal 2 Record entry Clear entry 4 5 6 7 <Req A 8 ..... 11 Debit Credit View general journal Req B >
Journal entry worksheet 1 2 3 4 5 6 Paid $6,240 cash in advance for a one-year lease on office space. Note: Enter debits before credits. Event General Journal Debit 3 Record entry Clear entry <Reg A 7 8 ***** 11 Credit View general journal Req B > >
Journal entry worksheet 1 2 3 4 5 Earned $45,350 of revenue on account. Note: Enter debits before credits. Event General Journal Clear entry Record entry 6 7 8 Debit ***** 11 Credit View general journal
Journal entry worksheet < 1 2 3 4 5 6 Incurred $15,050 of other operating expenses on account. Note: Enter debits before credits. Event General Journal 5 Record entry Clear entry <Reg A 7 8. 11 Credit View general journal Req B > ***** Debit
Journal entry worksheet < 1 2 3 4 5 6 Collected $32,500 cash from accounts receivable. Note: Enter debits before credits. Event General Journal 6 Record entry Clear entry <Req A 7 8 ..... 11 Debit Credit View general journal Req B >
Journal entry worksheet < 2 3 4 5 Paid $9,850 cash on accounts payable. Note: Enter debits before credits. Event General Journal 7 Record entry Clear entry 6 <Reg A 7 8 Debit ... 11 Credit View general journal Req B > ***** >
Journal entry worksheet < 1 2 3 4 5 6 Paid a $4,700 cash dividend to the stockholders. Note: Enter debits before credits. Event General Journal Clear entry Record entry Req A 7 8 Debit 11 Credit View general journal Req B > 7
Journal entry worksheet < 1 4 5 6 7 ***** 8 9 11 www. There was $320 of supplies on hand at the end of the accounting period. Note: Enter debits before credits. Event General Journal Debit Credit Clear entry View general journal Reg B> Record entry Reg A >
Journal entry worksheet 1 4 5 6 7 8 9 10 11 **** The lease on the office space covered a one-year period beginning November 1. Note: Enter debits before credits. Event General Journal Debit Credit 10 Record entry Clear entry View general journal Req B > Reg A
Journal entry worksheet < 1 4 5 6 7 8 9 ***** 10 There was $5,300 of accrued salaries at the end of the period. Note: Enter debits before credits. Event General Journal Debit 11 Record entry Clear entry 11 Credit View general journal
Complete this question by entering your answers in the tabs below. Reg A Reg Ray C Reg D1 Reg 02 Reg 01 Post the transaction data from the journal to ledger T-accounts ASSETS Cash Be Bal Accounts Receivable Supplies Prepaid Rent Bal Bal LIABILITIES Accounts Payable Salaries Payable RegA Reg De Bal Bal Bal ReqC > STOCKHOLDERS EQUITY Commen Stock Dividende Service Revenue Other Operating Expense Rent Expense Salaries Expens Supples Expanse
Expenses Gargantuan Income Statement For the Year ended December 31, 2018 Total expenses 0 < Req C Reg D2 >
Prepare a statement of changes in stockholders' equity. Gargantuan Statement of Changes in Stockholders' Equity For the Year ended December 31, 2018 $ Beginning common stock Ending common stock Beginning retained earnings Ending retained earnings Total stockholders' equity 0 0 0 < Req D1 Req D3 >
Gargantuan Trial Balance As of December 31, 2018 Debit Account Titles Totals $ 0 $ Credit 0 < Req B Req D1 >
Assets Gargantuan Balance Sheet As of December 31, 2018 Total assets Lisbilities Total liabilities Stockholders' Equity Total stockholders equity Total fiabilities and stockholders equity $ $ < Req D2 0 0 Reg D4 >
Prepare a statement of cash flows. (Amounts to be deducted should be indicated with minus sign.) Gargantuan Statement of Cash Flows For the Year ended December 31, 2018 Cash flows from operating activities Net cash flow from operating activities Cash flows from investing activities Cash flows from financing activities Net cash flow from financing activities Net change in cash Ending cash balance < Req D3 $ 0 0 0 0 Reg D4 >