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answer the following questions use this format to complete Problem Data . Consider the following four transactions for Fitzgerald Co. Services provided to a customer

answer the following questions image text in transcribed
use this format to complete
image text in transcribed
Problem Data . Consider the following four transactions for Fitzgerald Co. Services provided to a customer on account for $3,500 Salaries previously accrued in the amount of $2,500 were paid o Advertising expense in the amount of $1,500 was paid when incurred die, when the bill was received) o Depreciation expense for the period was $5,000 for the period Required Prepare, in good form, the journal entry for each of the four transactions listed above. Use the General Journal format shown on page 75 of the textbook when preparing your journal entries without any lines, color, or shading. Assume Fitzgerald Co. failed to record the four transactions shown above determine the net (e. combined) error on the following four items, i.e, overstated, understated, or no effect, and the amount o Net income Total assets o Total owners' equity o Working capital Do not use color to shade any cells, place lines or cell borders around your journal entries. Use uniform column widths and row heights conridered in determining the points you receive. General Journal Account Titles and Explanation Date Debit Credit 2019 Dec. 2 30,000 30,000 2 10.800 10.800 2 2.850 2,850 2 36,000 36,000 3 32.400 32,400 S 3,000 3,000 Cash (+A) Common stock (+SE) To record issuance of comnion stock for cash. Prepaid rent (UA) Cash (-A) To record advance payment of six months' rent. Office supplies (UA) Accounts payable (+L) To record purchase of office supplies. Cash (UA) Notes payable (+L) To record borrowing of funds. Office equipment (UA) Cash (-A) To record purchase of office equipment. Cash (+A) Unearned revenue (+L) To record advance payment from a customer Cash (+A) Fee revenue (+R, +SE) To record fee revenue earned. Cash (+A) Accounts receivable (UA) Fee revenue (+R, +SE) To record fee revenue earned. Wage expense (+E. -SE) Cash (-A) To record payment of employee wages. Cash (+A) Accounts receivable (-A) To record receipt of payment on account. Dividends (+D. -SE) Cashe (-A) To record payment of cash dividends. 10 13.510 13,510 18 1,000 3,740 4.740 20 1,620 1,620 2,400 27 2,400 500 30 500

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