Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1) On October 1, C. R. Byrd invests 10,000 cash in an advertising company called Yazici Advertising. 2) On October 1, Yazici purchases office

  

1) On October 1, C. R. Byrd invests 10,000 cash in an advertising company called Yazici Advertising. 2) On October 1, Yazici purchases office equipment costing 5,000 by signing a 3- month, 12%, 5,000 note payable. 3) On October 2, Yazici receives a 1,200 cash for advertising services that are expected to be completed by December 31. 4) On October 3, Yazici pays office rent for October in cash of 900. 5) On October 4, Yazici pays 600 for a one-year insurance policy that will expire next year on September 30. 6) On October 5, Yazici purchases a 3-month supply of advertising materials on account from Aero Supply for 2,500. 7) On October 20, C. R. Byrd withdraws 500 cash for personal use. 8) On October 26, Yazici owes employee salaries of 4,000 and pays them in cash (see October 9 event). 9) On October 31, Yazici receives 10,000 in cash from Copa Company for advertising services performed in October. Required: 1- journalize these transactions 2- post these transactions 3- prepare trail balance (before adjustments) 4- consider the adjustments

Step by Step Solution

3.40 Rating (169 Votes )

There are 3 Steps involved in it

Step: 1

1 Oct 1 Yazici purchases office equipment by signing a 3month 12 5000 note payable Oct 2 Yazici receives a 1200 cash for advertising services that are ... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial and managerial accounting

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

1st edition

111800423X, 9781118233443, 1118016114, 9781118004234, 1118233441, 978-1118016114

More Books

Students also viewed these Accounting questions

Question

What is the goal of conservatism?

Answered: 1 week ago

Question

Calculate the purchase price of each of the $1000 face value bonds

Answered: 1 week ago