Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

2 . ) Sophie Vaillancourt started an invertment management business, Vaillancourt Management, on June 1 , 2 0 2 0 . Duving the first month

2.) Sophie Vaillancourt started an invertment management business,
Vaillancourt Management, on June 1,2020. Duving the first month
of operations, the business completed the pollowing selected
transadions:
\table[[Date,Transaction]]
June 1 Vaillancount began the business with an invertment of $20,000
cash, land valued at $60,000, and a building valued at $120,000.
June 3 Purchased office supplies on account, $2,600.
June 4 Paid $15,000 cash for opfice furniture.
Ji June 12 Paid employee salary, $2,200 cash.
June 15 Perpormed consulting service on account for clients, $12,100.
June 22 Paid in cash $800 of accounts payable created by purchasing office
supplies on June 3.
June 24 Received $2,000 bill for advertising expense that will be paid in the
near puture.
Ju June 25 Perpormed consulting service for customers and received cash, $5,600.
June 26 Received carh on account, $2,400.
June 29 Paid the rent expense with a cheque for $1,700. Paid the
ubilities expense with a cheque for $400.
June 30 Vaillancount withdrew $ 6,500 cash por personal use.
i Jouralize the transaction
ii. Prepare Unadjusted Trial Bolance of June 30,2020.
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

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

Managerial Accounting An Introduction to Concepts Methods and Uses

Authors: Michael W. Maher, Clyde P. Stickney, Roman L. Weil

10th Edition

1111822239, 324639767, 9781111822231, 978-0324639766

More Books

Students also viewed these Accounting questions