Shelly Wagner began a sole proprietorship named Wagner Company on June 1,20X9.Following are the transactions,which occurred during the first 10 days of June,20X9.
June 1 Shelly invested $ \$ 6,600 $ cash in Wagner Company
June 2 Wagner Company acquired equipment costing $ \$ 3,900 $. One-third of the balance was paid in cash with the balance as a note.
June 4 Wagner Company acquired inventory costing $ \$ 2,200 $, half of which was paid in cash.
June 5 Wagner Company acquired $ \$ 200 $ in supplies on open account.
June 7 Shelly's daughter, Sydney, purchased $ \$ 600 $ of equipment, at cost and on open account from
Wagner Company
Iune $ 9 \quad $ Wagner Company returned $ \$ 100 $ of defective inventory and received a full credit.
June 10 Wagner Company received $ \$ 200 $ from Sydney, Shelly's daughter, in partial settlement of her Required:
1.Prepare an analysis of the transactions on the balance sheet equation.
2.Prepare a balance sheet for Wagner Company as of June 10,20X9.

Question

Shelly Wagner began a sole proprietorship named Wagner Company on June 1,20X9.Following are the transactions,which occurred during the first 10 days of June,20X9.
 June 1 Shelly invested $ \$ 6,600 $ cash in Wagner Company
June 2 Wagner Company acquired equipment costing $ \$ 3,900 $. One-third of the balance was paid in cash with the balance as a note.
June 4 Wagner Company acquired inventory costing $ \$ 2,200 $, half of which was paid in cash.
June 5 Wagner Company acquired $ \$ 200 $ in supplies on open account.
June 7 Shelly's daughter, Sydney, purchased $ \$ 600 $ of equipment, at cost and on open account from
Wagner Company
Iune $ 9 \quad $ Wagner Company returned $ \$ 100 $ of defective inventory and received a full credit.
June 10 Wagner Company received $ \$ 200 $ from Sydney, Shelly's daughter, in partial settlement of her Required:
1.Prepare an analysis of the transactions on the balance sheet equation.
2.Prepare a balance sheet for Wagner Company as of June 10,20X9.

Quizplus · Accepted Answer

The Answer of Shelly Wagner began a sole proprietorship named Wagner Company on June 1,20X9.Following are the transactions,which occurred during the first 10 days of June,20X9.
 June 1 Shelly invested $ \$ 6,600 $ cash in Wagner Company
June 2 Wagner Company acquired equipment costing $ \$ 3,900 $. One-third of the balance was paid in cash with the balance as a note.
June 4 Wagner Company acquired inventory costing $ \$ 2,200 $, half of which was paid in cash.
June 5 Wagner Company acquired $ \$ 200 $ in supplies on open account.
June 7 Shelly's daughter, Sydney, purchased $ \$ 600 $ of equipment, at cost and on open account from
Wagner Company
Iune $ 9 \quad $ Wagner Company returned $ \$ 100 $ of defective inventory and received a full credit.
June 10 Wagner Company received $ \$ 200 $ from Sydney, Shelly's daughter, in partial settlement of her Required:
1.Prepare an analysis of the transactions on the balance sheet equation.
2.Prepare a balance sheet for Wagner Company as of June 10,20X9.

Shelly Wagner Began a Sole Proprietorship Named Wagner Company on June