ACC 370 SPRING 2021 QUICKBOOKS HANDS ON CLASS EXERCISE

SECTION

NOW YOUR TURN

March 2021

1 Mr. Jim Doha invested additional $75,000 cash in the real estate agency.

2. Paid advertising bill for February $1,400

2. Sold house for $250,000 and collected commission of $15,000

4 Purchased office supplies for cash, $2450.

5 Purchased additional office supplies on account, $550

6 Sold a house and collected a $46,000 commission.

8 Paid gas bills, $240

15 Paid the salary of the office secretary, $850.

17 Sold a building lot and earned a commission, $16,500.

20 Mr Jim Doha withdrew $3,000 from the business to pay personal expenses

21 Sold a house and collected a $15,500 commission.

22 Paid gas bills, $220.

24 Paid $960 to repair automobile

28 Paid the salary of the office secretary, $1350

30 Paid the March telephone, $520.

30 Received advertising bill for March, $1,400. The bill is to be paid on 4/12/21

In addition to the above transactions, the following adjusting entries should be recorded at the end of March 2021.

1. One months rent has expired
2. An inventory shows $250 of office supplies remaining.
3. Depreciation on office equipment, using straight line depreciation method, 4 years, zero residual value
4. Depreciation on automobile, using straight line depreciation method, 4 years, zero residual value.

Required:

Use General Journal Entries to record all the transactions

Print and Submit the Income Statement and the Balance Sheet and Adjusted Trial Balances of Doha Enterprises for the month of March 2021. When setting up the company, affix your name along with the name of the business. That is, the name of the Company should state [Doha Enterprises (Your Name)]. The assignment must be completed using QuickBooks Software.