Accounting $1$A Online

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Chapter $3-$ The Adjusting Process

Online tutoring site assistance may not be used on this assignment. Students found posting thls assignment or relying on online solutions will receive a grade of $0$ on the assignment.

Using the Chart of Accounts provided in Canvas, journalize the following transactions:

a$)$ On January $1,$ the owners deposited $$200,000$ into the business bank account in exchange for Common Stock

b$)$ On January $2,$ M$4$ Engineering signed a $1-$year lease for an office building in Long Beach. The owner required the rent for the year be paid in advance. M$4$ Engineering gave the landlord a check for $$30,000.$

c$)$ On January $5,$ M$4$ Engineering signed a $$75,000$ contract to provide engineering services beginning on April $1.$

d$)$ On January $31,$ M$4$ Engineering bought $$7,500$ of office supplies on account.

e$)$ On February $10,$ M$4$ Engineering paid the utility bills of $$300$

f$)$ On February $15,$ M$4$ Engineering bought computers and other Office Equipment on account for $$20,000.$

g$)$ On February $28,$ M$4$ Engineering received $$50,000$ advance payment for work that will begin on April $1$

M$.$ Baker V$1$

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