Answer to Question #233789 in Accounting for Another you

Question

I. Analyze the July 2021 transaction of Little Miss Wow Company. Put (T) if it is part in the preparation of Statement of Comprehensive Income and NA if it is not part in the preparation of SCI.

1. The company made an initial cash deposit amounting to 80,000.

2.The owner bought shop's office chairs and tables for 20,000, paying 5,000 and the balance on account.

3. Miss Wow paid advance rent to 24,000.

4. Supplies expence for the month is 12,500.

5. The company's total revenue for the month of july amounted to 150,000.

6. An employe of the shop was paid for 7,500.

7. Her receivable amounted to 3,500 for services made to Customer A.

8. The owner paid for internet subscription at 1,700.

9. Light and water expense for the month amount to 8,000

10. Miss Wow made a loan to OOTD Bank amounting to 50,000 payable in 5 years.

II. Miss Wow, the service business owner, asks you to prepare her statement of comprehensive income for the month.

Answer 1

1.T

2.NA

3.T

4.T

5.T

6.T

7.NA

8.T

9.T

10.T