Sara Bloom Has Prepared the Following Analysis of September Transactions

question 239

Essay

Sara Bloom has prepared the following analysis of September transactions for her business,Blooming Florist.Unfortunately,she has lost some information.Determine the missing amounts (a)through (c)below:
$\begin{array}{|l|r|r|r|r|r|r|}\hline\text { Date } & \text { Cash } & \text { Accounts } & \text { Accounts } & \text { Notes } & \text { Common } & \text { Retained } \\& & \text { Receivable } & \text { Payable } & \text { Payable } & \text { Stock } & \text { Earnings }\\\hline \text { Balances } & 30,000 & 30,100 & \text { (a) } & 8,500 & 10,000 & 30,000 \\\hline 9 / 5 & -10,000 & 0 & \text { (b) } & 0 & 0 & \\\hline 9 / 10 & -3,500 & 0 & 0 & 0 & 0 & \text { (c) }\\\hline \end{array}$

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Definitions:

Accounting Period

A specific period of time used for financial reporting purposes, usually a quarter or a year, to measure business activities and prepare financial statements.

Trial Balance

A bookkeeping report that lists the balances of all ledgers in two columns, debits and credits, ensuring that total debits match total credits.

Chart of Accounts

A systematic listing of all accounts used by an organization, categorized to facilitate financial reporting and bookkeeping.

GAAP

Generally Accepted Accounting Principles, the standard framework of guidelines for financial accounting in the U.S.