ACCT 101 Assignment

Q2.Prepare a cash ledger from the following transactions during Feb 2017.

Feb.1 Shareholders invested $200 000 cash in the business in exchange for shares in the company.

Feb. 2 Purchased equipment for $150 000 cash.

Feb. 3 Purchased cleaning supply Expenses of $5 000 for the month from the Cleaning Warehouse Ltd. on credit

Feb. 4 Advertising expenses of $5 000 on account from Advertiser Ltd, to advertise the opening of the business.

Feb. 5 Paid cash $1 200 for a 1-year insurance policy.

Feb. 7 Weekly cash received for car washes of $6 000.

Feb. 9 Invoiced Rental Car Co. for $1 000, for car wash service for a fleet of cars.

Feb. 12 Paid rent of $4 000 for the month.

Feb. 14 Weekly cash received for car washes of $8 800.

Feb. 18 Invoiced Rental Car Co. for $1 500, for car wash service for a fleet of cars.

Feb. 21 Weekly cash takings for car washes of $10 300.

Feb. 24 Paid cash dividend of $1 000.

Feb 25 Rental Car Co. paid the invoice from the 9th of Feb.

Feb. 26 Paid the 4th Feb account from Advertiser Ltd.

Feb . 27 Paid salaries of $6 000 for the month.

Feb. 28 Weekly cash received for car washes of $13 500

Q3. Record the following transactions in the desired manner and give the adjusting entry on December 31, 2016. (Two entries for each part.)

1. An insurance policy for two years was acquired on April 1, 2016 for $8,000.

2. on NOV. 30 the company reveived $ 10000 cash aginst services to be provided in december 30. On that date service provided to the customer

Q4.From the following adjusted Trail Balance Prepare the 4 financial statements

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