[m_castillo06]

Problem #2

Marcus stahl won a concession to rent bicycles in the local park during the summer. In the month of may, stahl completed the following transactions for his bicycle rental business.

May 3-began business by placing $14400 in a business checking account.
May 6-purchased supplies on account for $300.
May 7- purchased ten bicycles for $5000, paying $2400 down and agreeing to pay the rest in 30 days.
May9- received $940 in cash for rentals during the first week of operations.
May 10- purchased a small shed to hold the bicycles and to use for other operations for $5800 in cash.
May 11- paid $800 in cash for shipping and installation costs to place the shed at the park entrance.
May 14- received $1000 in cash for rentals during the second week of operation.
May 15- hired a part time assistant to help out on weekends at $8 per hour.
May 16- paid a maitenence person $150 to clean the grounds.
May 18- paid the assistant $160 for a weekends work.
May 19- paid $300 for the supplies purchased on may 6.
May 20- paid a $110 repair bill on bicycles.
May 21- received $1100 in cash for rentals during the third week of operations.
May 23- paid the assistant $160 for a weekends work.
May 24- billed a company $220 for bicycle rentals for an emplyees outing.
May 26- paid the $200 fee for may to the park district for the right to the bicycle concession.
May 28- received $820 in cash for rentals during the week.
May 30- paid the assistant $160 for a weekends work.
May 31- transferred $1000 to a personal checking account.

Please provide journal entry, t-accounts and trial balance if u can in much detail.

[pready]

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