PROBLEM: - Making an Accounting Equation Table and Financial Statements At the beginning of April, Haron Kadir launched a custom computer solutions company called Softworks. The company had the...


PROBLEM: - Making an Accounting Equation Table and Financial Statements<br>At the beginning of April, Haron Kadir launched a custom computer solutions company called Softworks. The company had the following transactions<br>during April.<br>1. Haron Kadir invested $65,000 cash, office equipment with a value of $5,750, and $30,000 of computer equipment in the company.<br>The company purchased land worth $22,000 for an office by paying $5,000 cash and signing a long-term note payable for $17,000.<br>3. The company purchased a portable building with $34,500 cash and moved it onto the land acquired in b.<br>2.<br>4.<br>The company paid $5,000 cash for the premium on a two-year insurance policy.<br>5. The company provided services to a client and immediately collected $4,600 cash.<br>The company purchased $4,500 of additional computer equipment by paying $800 cash and signing a long-term note payable for $3,700.<br>7. The company completed $4,250 of services for a client. This amount is to be received within 30 days.<br>8. The company purchased $950 of additional office equipment on credit.<br>6.<br>9. The company completed client services for $10,200 on credit.<br>10. The company received a bill for rent of a computer testing device that was used on a recently completed job. The $320 rent cost must be paid within<br>30 days.<br>11. The company collected $5,100 cash in partial payment from the client described in transaction į.<br>12. The company paid $1,800 cash for wages to an assistant.<br>13. The company paid $950 cash to settle the payable created in transaction h.<br>14. The company paid $608 cash for minor maintenance of the company's computer equipment.<br>15. H. Kadir withdrew $6,230 cash from the company for personal use.<br>16. The company paid $1,800 cash for wages to an assistant.<br>17. The company paid $750 cash for advertisements on the web during April.<br>Required<br>3. Prepare statement of owner's equity<br>

Extracted text: PROBLEM: - Making an Accounting Equation Table and Financial Statements At the beginning of April, Haron Kadir launched a custom computer solutions company called Softworks. The company had the following transactions during April. 1. Haron Kadir invested $65,000 cash, office equipment with a value of $5,750, and $30,000 of computer equipment in the company. The company purchased land worth $22,000 for an office by paying $5,000 cash and signing a long-term note payable for $17,000. 3. The company purchased a portable building with $34,500 cash and moved it onto the land acquired in b. 2. 4. The company paid $5,000 cash for the premium on a two-year insurance policy. 5. The company provided services to a client and immediately collected $4,600 cash. The company purchased $4,500 of additional computer equipment by paying $800 cash and signing a long-term note payable for $3,700. 7. The company completed $4,250 of services for a client. This amount is to be received within 30 days. 8. The company purchased $950 of additional office equipment on credit. 6. 9. The company completed client services for $10,200 on credit. 10. The company received a bill for rent of a computer testing device that was used on a recently completed job. The $320 rent cost must be paid within 30 days. 11. The company collected $5,100 cash in partial payment from the client described in transaction į. 12. The company paid $1,800 cash for wages to an assistant. 13. The company paid $950 cash to settle the payable created in transaction h. 14. The company paid $608 cash for minor maintenance of the company's computer equipment. 15. H. Kadir withdrew $6,230 cash from the company for personal use. 16. The company paid $1,800 cash for wages to an assistant. 17. The company paid $750 cash for advertisements on the web during April. Required 3. Prepare statement of owner's equity
Jun 10, 2022
SOLUTION.PDF

Get Answer To This Question

Related Questions & Answers

More Questions »

Submit New Assignment

Copy and Paste Your Assignment Here