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04 A05 Accounting Spreadsheet Fundamentals Directions: Be sure to save an electronic copy of your answer before submitting it to Ashworth College for grading. Unless
04 A05 Accounting Spreadsheet Fundamentals Directions: Be sure to save an electronic copy of your answer before submitting it to Ashworth College for grading. Unless otherwise stated, answer in complete sentences, and be sure to use correct English, spelling and grammar. Show all work. BUSINESS TRANSACTIONS (PTRANS) Note: For a problem using the corporate form of business organization, download the FTRANS file that is attached to this assignment. PROBLEM DATA On June 1 of the current year, Wilson Wood opened Woodys Web Services. This sole proprietorship had the following transactions during June. a. Opened a business checking account and made a deposit, $9,000. b. Paid rent for June for office space and computer equipment, $3,000. c. Purchased office supplies (stamps, pens, etc.) on account, $1,980. d. Received cash for services rendered, $4,500. e. Paid creditor for office supplies purchased on account, $1,400. f. Purchased office supplies for cash, $420. g. Billed clients for consultations performed on account, $4,600. h. Paid monthly internet service bill of $360. i. Paid the secretary's salary of $2,400. j. Returned $300 of office supplies purchased in transaction f. Received a full refund. k. Received cash from clients previously billed, $3,000. l. Cash was withdrawn
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