Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Accounting Basics Expert

Record the following transactions in a general journal.  Make use of only these account titles:  Cash; Accounts Receivable; Accounts Payable; Supplies; Equipment; your name, Capital; your name, Drawing; Service Revenue; Rent Expense; Supplies Expense; Utilities Expense.

3/1/07           Invested $20,000 in cash and $5,000 of equipment in business
3/5/07           Purchased equipment on account: $1,200
3/7/07           Purchased supplies on account: $500
3/10/07         Purchased supplies with cash: $1,000
3/13/07         Received cash for services provided to clients: $2,500
3/15/07         Paid rent: $850
3/20/07         Billed clients for services performed: $850
3/25/07         Paid for equipment purchased on: 3/5/07
3/28/07         Received payment for services performed on: 3/20/07
3/31/07         Withdrew cash for personal use: $3,000

After recording transactions given above, post to the general ledger.

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M99512

Have any Question? 


Related Questions in Accounting Basics

Exercise 1making special pricing decisionssuppose the

Exercise 1 Making special pricing decisions Suppose the Baseball Hall of Fame in Cooperstown, New York, has approached Hungry-Cardz with a special order. The Hall of Fame wishes to purchase 55,000 baseball card packs for ...

Read the following scenariothomas perdue had built up a

Read the following scenario: Thomas Perdue had built up a successful development company. When he became city commissioner, everyone said it was good to have a businessperson on the commission. They said businesspeople k ...

Assignment -1analysis assignmentinterpretation and

Assignment -1: Analysis Assignment Interpretation and comparison between the two companies' ratios (reading Chapter 15 will help you prepare the commentary). The comparison of the ratios is an important part of the proje ...

Descriptionbond valuation the pennington corporation issued

Description BOND VALUATION The Pennington Corporation issued a new series of bonds on January 1, 1990. The bonds were sold at par ($1,000); had a 12% coupon; and mature in 30 years, on December 31, 2019. Coupon payments ...

Accounting principles assignment-q1 smith catering service

Accounting Principles Assignment- Q1. Smith Catering Service completed the following transactions during its first month of operations for July 2016: a. Smith Catering Service commenced operations by receiving $12000 cas ...

Wanda a calendar year taxpayer owned a building adjusted

Wanda, a calendar year taxpayer, owned a building (adjusted basis of $250,000) in which she operated a bakery that was destroyed by fire in December 2015. She receives insurance proceeds of $290,000 for the building the ...

Imagine you are a member of the project approval committee

Imagine you are a member of the project approval committee. An ambitious young manager in the marketing department is well connected with the top management team in your company. He catches you in the hall and mentions t ...

Assignment detailsas at the 1stmay katy perry establishes a

Assignment Details: As at the 1stMay, Katy Perry establishes a new business Katie's Bridal Services as a sole trader. The business will hire out bridal gowns and other accessories as well as provide professional services ...

Q1 kay corporation is engaged in the furniture

Q1. Kay Corporation is engaged in the furniture manufacturing business. Following are some of the financial figures of company: Sales                                      Rs. 760,000 Net Profit                            ...

1 proceeds from an issue of debt securities having stock

1) Proceeds from an issue of debt securities having stock warrants should NOT be allocated between debt and equity features when A. the allocation would result in a discount on the debt security B. the warrants issued wi ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

A cola-dispensing machine is set to dispense 9 ounces of

A cola-dispensing machine is set to dispense 9 ounces of cola per cup, with a standard deviation of 1.0 ounce. The manuf

What is marketingbullwhat is marketing think back to your

What is Marketing? • "What is marketing"? Think back to your impressions before you started this class versus how you

Question -your client david smith runs a small it

QUESTION - Your client, David Smith runs a small IT consulting business specialising in computer software and techno

Inspection of a random sample of 22 aircraft showed that 15

Inspection of a random sample of 22 aircraft showed that 15 needed repairs to fix a wiring problem that might compromise

Effective hrmquestionhow can an effective hrm system help

Effective HRM Question How can an effective HRM system help facilitate the achievement of an organization's strate