Problem
November 1st - Coffee Co. Gains $10,000.00 in common Stock
November 1st - Coffee Co. purchases office supplies for $1,000.00 on credit.
November 3rd - Coffee Co. company pays $3,00.00 cash for rent.
November 7th - Coffee Co. caters coffee beans to American Express office and bills them $500.00 later.
November 10th - Coffee Co. pays there one employee $100.00.
November 11th - Coffee Co. pays $50.00 cash for utilities.
November 13th - Coffee Co. purchases new espresso equipment for $5,000 on credit.
November 17th - Coffee Co. pays $100 dividends to its shareholders.
November 18th - Coffee Co. collects cash from American Express Catering on November 7th.
November 20th - Coffee Co. pays $100.00 cash for advertising.
November 22nd - Coffee Co. pays $75.00 cash for office repairs.
Identify the transaction, Analyze the transaction using the accounting equation, record the journal entry, post the entry [T-accounts]. Then show us an unadjusted trial balance for Coffee co.
Include adjusting entries such as the following: Deferral Expense, Deferral Revenue, Accrued Expense, Accrued Revenue
1. Show the adjusted the trial balance
2. Develop the Financial Statements for XYZ Company.
3. Prepare closing entries and postclosing trial balance.