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  • Yi Min Started An Engineering Firm Called Min Engineering He

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    M Bilal Saleem
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    Yi Min started an engineering firm called Min Engineering. He began operations in May and completed seven transactions, investing $18,000 initially. The ledger showed accounts including $37,641 cash, $890 in office supplies, $4,600 in prepaid insurance, and $12,900 in office equipment, with $12,900 in accounts payable, $18,000 in capital and $3,329 in withdrawals. Engineering fees were $36,000 and rent expense was $7,540.

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    Yi Min started an engineering firm called Min Engineering. He began operations in May and completed seven transactions, investing $18,000 initially. The ledger showed accounts including $37,641 cash, $890 in office supplies, $4,600 in prepaid insurance, and $12,900 in office equipment, with $12,900 in accounts payable, $18,000 in capital and $3,329 in withdrawals. Engineering fees were $36,000 and rent expense was $7,540.

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    © All Rights Reserved
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    14 views1 page

    Yi Min Started An Engineering Firm Called Min Engineering He

    Uploaded by

    M Bilal Saleem
    Yi Min started an engineering firm called Min Engineering. He began operations in May and completed seven transactions, investing $18,000 initially. The ledger showed accounts including $37,641 cash, $890 in office supplies, $4,600 in prepaid insurance, and $12,900 in office equipment, with $12,900 in accounts payable, $18,000 in capital and $3,329 in withdrawals. Engineering fees were $36,000 and rent expense was $7,540.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
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    Yi Min started an engineering firm called Min Engineering

    He
    Yi Min started an engineering firm called Min Engineering. He began operations and completed
    seven transactions in May, which included his initial investment of $18,000 cash. After those
    seven transactions, the ledger included the following accounts with normal balances.Cash . . . .
    . . . . . . . . . . . . . . . . . . . $37,641Office supplies . . . . . . . . . . . . . . . . 890Prepaid insurance . . . . .
    . . . . . . . . 4,600Office equipment . . . . . . . . . . . . . 12,900Accounts payable . . . . . . . . . . . . .
    12,900Y. Min, Capital . . . . . . . . . . . . . . . 18,000Y. Min, Withdrawals . . . . . . . . . . .
    3,329Engineering fees earned . . . . . . . . 36,000Rent expense . . . . . . . . . . . . . . . .
    7,540Required1. Prepare a trial balance for this business as of the end of May. Analysis
    Components2. Analyze the accounts and their balances and prepare a list that describes each
    of the seven most likely transactions and their amounts.3. Prepare a report of cash received
    and cash paid showing how the seven transactions in part 2 yield the $37,641 ending Cash
    balance.View Solution:
    Yi Min started an engineering firm called Min Engineering He
    SOLUTION-- http://expertanswer.online/downloads/yi-min-started-an-engineering-firm-called-
    min-engineering-he/

    See Answer here expertanswer.online


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