Transactions and Events in Smith's Coffee Roasters Business:

wuppo/ doocoolTICIll/ lake/ launch.jsp. course_assessment_id=_158816_1&course_id=_43387_1& Question Completion Status: QUESTION 1 8 p In December 2021, the following transactions occurred in Smith's Coffee Roasters business that supplies cafes and also sells di (ignore GST): Dec. 2 Smith invested $2 750 000 into the business of Macchiato's Coffee Roasters by purchasing a fully equipped coffee roasting business. The business acquired consisted of the following assets and liabilities: Land $1 300 000 Building 1 000 000 Coffee roasting equipment 420 000 Office equipment 60 000 Accounts payable 30 000 5| Purchased some new roasting equipment on credit for $150 000. 6 Collected cash from customers for the month, $200 000. 12 Paid the accounts payable owing on 2 December when Smith purchased the 14|business. 18 Purchased an insurance policy for the year for $6000 cash. Purchased television advertising for the Christmas - New Year period for 23 $8000 to be paid for in 30 days. Collected fees in cash from customers for the Christmas - New Year period, 30 amounting to $46 000. Smith withdrew $5000 cash in order to pay for private Christmas presents and parties. Required Prepare general journal entries for each of the above transactions and events (narrations are required) (8 marks). For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). B I U S Paragraph Open Sans,sa.. 10pt Save All Answer Click Save and Submit to save and submit. Click Save All Answers to save all answers. O