question george brown college acct1037 transaction analysis worksheet the following 4304152


George Brown College-ACCT1037 Transaction Analysis Worksheet The following transactions of Cozy Hotel Inc. occurred during their first month of operations, May, 2013. Review the following transactions for and journalize these transactions using the General Journal form(s), (34 marks) May 1 Cozy Hotel Inc. sold 1000 common shares to investors, who in total invested $300,000 cash. May 2 The Corporation borrowed $150,000 from a bank and signed a mortgage note payable at 10% May 2 The Corporation signed a one-year lease contract on land for additional parking space starting May 3 Land was purchased for $100,000, to be used as future parking next year. Cozy Hotel Inc. paid May 5 The hotel purchased Front Desk and Housekeeping equipment worth $160,000 in which interest per year. October 1. Rent is $4,000 per month and the first and last months' rent were paid upon signing cash for half of the purchase, and signed a note payable for the remainder, at 10% interest per year $100,000 was paid with cash and the balance on account other half with cash. May8 Front Offcel Housekeeping suplies worth $20,000 were purehased, haf n account and the May9 Cozy Hotel Inc. paid $2,000 for advertising for the month of May May 10 The Corporation paid $6000 for 12 months of insurance. Coverage begins June 1. May 11 $5000 was given to pay off debt owing to suppliers. May 22 The Cozy Hotel invoiced a local business $9,000 for the 2 nights' accommodation provided. May 23 Cash Sales of Walk-In Guests were deposited in the amount of $5,000. May 25 Bill for utilities for $1,000 was recelved and not paid. May 26 Salaries were paid in the amount of $5,000. May 28 Received partial payment from the transaction 10 in the amount of $5,000.

  1. Start by sharing the instructions of your paper with us  
  2. And then follow the progressive flow.
  3. Have an issue, chat with us now


Cathy, CS.