Question: (Transaction Analysis Company) Beverly Crusher is a licensed CPA. During the first month of operations of her business (a sloe proprietorship), the following events and transactions occured.
April 2 Invested $32,000 cash and equipment valued at $14,000 in the business
2. Hired a secretary-receptionist at a salary of $290 per week payable monthly.
3. Purchased supplies on account $700. (Debit an asset account)
7. Paid office rent of $600 for the month.
11. Completed a tax assignment and billed client $1,100 for services rendered. (Use Service Revenue account.)
12. Received $3,200 advance on a management consulting engagement.
17. Received cash $2,300 for services completed for Ferengi co.
21. Paid insurance expense $110
30. Paid secretary-receptionist $1,160 for the month
30. A count of supplies indicated that $120 of supplies had been used
30. Purchase a new computer for $6,100 with personal funds. The computer will be used exclusively for business purpose.)