Zeb Slipewicz opened a renovation business called WeReDoIt Construction on September 3, 2023. During the first month
Question:
Zeb Slipewicz opened a renovation business called WeReDoIt Construction on September 3, 2023. During the first month of operations, the business completed the following transactions:
Required
Record each transaction in the journal with an explanation. Identify each transaction by date. Use the following accounts: Cash; Accounts Receivable; Supplies; Furniture; Land; Accounts Payable; Z. Slipewicz, Capital; Z. Slipewicz, Withdrawals; Service Revenue; Rent Expense; Salaries Expense.
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Sep. 3 4 5 6 Performed design services for a client and received $2,400 cash. Paid $44,000 cash to acquire land for a future office site. 7 10 Designed a bathroom for a client, billed the client, and received her promise to pay the $5,800 within 1 week. Paid for the furniture purchased September 4 on account. Paid assistant's salary, $940 cash. Received cash on account, $3,400. 14 Slipewicz deposited a cheque for $72,000 into the business bank account to start the business. Purchased supplies, $600, and furniture, $4,400, on account. Paid September rent expense, $1,500 cash. 15 17 22 25 30 30 Received $5,000 cash from a client for renovation of a cottage. Prepared a recreation room design for a client on account, $1,600. Paid assistant's salary, $940 cash. Slipewicz withdrew $5,600 cash for personal use.
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Related Book For
Horngrens Accounting Volume 1
ISBN: 9780136889373
12th Canadian Edition
Authors: Tracie Miller Nobles, Brenda Mattison, Ella Mae Matsumura
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