the chart of accounts for angel s delivery service of flin flon is as follows angel 4375091

The chart of accounts for Angel’s Delivery Service of Flin Flon is as follows: Angel’s Delivery Service completed the following transactions during the month of March 2013: A. Alice Angel invested $16,000 in the delivery service from her personal savings account. B. Bought delivery trucks on account, $18,000. C. Bought office equipment for cash, $600. D. Paid advertising expense, $250. E. Collected cash for delivery services rendered, $2,600. F. Paid drivers’ salaries, $900. G. Paid gas expense for trucks, $1,200. H. Performed delivery services for a customer on account, $800. I. Telephone expense was due but not yet paid, $700. J. Received $300 as partial payment of transaction H. K. Alice Angel withdrew cash for personal use, $300. As Alice’s newly employed accountant, you must: 1. Setup 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 2013. 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 of March. c. A balance sheet as of March 31, 2013. View Solution:
The chart of accounts for Angel s Delivery Service of Flin

Related Articles

armstrong helmet company 239138

Armstrong Helmet Company manufactures a unique model of bicycle helmet Question Case project Learning Objectives: Prepare practical applications of course concepts Develop analytical and critical thinking Develop decision-making capabilities Enhance professional...

read more
GET A FREE QUOTE





  
Open chat
Need help? We are Online 24/7
Hello 👋
Can we help you?