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Posted: September 13th, 2022
Accounting Homework 1. Neal decides to start a smartphone app
Accounting Homework 1. Neal decides to start a smartphone app improvement firm that they incorporate as Softbyte SA. On September 1, 2020, he invested €30,000 money within the enterprise in change for €30,000 of unusual shares. The unusual shares point out the possession curiosity that the Neals have in Softbyte SA.
2. Softbyte SA purchases pc gear for €7,000 and promised to pay after one month.
three. Softbyte SA purchases headsets (and different pc equipment anticipated to final a number of months) for €1,600 from Cell Options on money.
four. Softbyte SA receives €2,000 money from clients for app improvement companies it has carried out.
5. Softbyte SA has salaries of workers for 1,000 that are nonetheless due.
6. Softbyte SA performs €5,000 of app improvement companies for patrons. The corporate receives money of €four,000 from clients, and it payments the steadiness of €1,000 on account.
7. Softbyte SA pays the next bills in money for September: workplace lease €600, salaries and wages of workers €900, and utilities €200.
eight. Softbyte has paid their due quantity in salaries of 1,000 in money from transaction 5
9. : Softbyte SA receives €1,000 in money from clients who had been billed for companies [in Transaction (6)].
10. The corporate pays a dividend of €2,000 in money to Ray and Barbara Neal, the shareholders of Softbyte SA. This transaction leads to an equal lower in belongings and fairness.
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