Answered step by step
Verified Expert Solution
Question
1 Approved Answer
can someone help me! thanks :) On August 1, 2023, Mark Diamond began a tour companyr in the Northwest Territories called Millennium Arctic Tours. The
can someone help me! thanks :)
On August 1, 2023, Mark Diamond began a tour companyr in the Northwest Territories called Millennium Arctic Tours. The following occurred during the first month of operations: Purchased office furniture on account; $5,288. Aug. 1 1 Mark Diamond invested $8,666 cash into his new business. 2 Collected $5,466 in advance for a threeweek guided caribou watching tour beginning later in August. 3 Paid $?,588 for six months' rent for office space effective August 1. 4- Received $4,666 for a fourday northern lights viewing tour just completed. 7 Paid $2,688 for hotel expenses regarding the August 4 tour. 15 Mark withdrew cash of $688 for personal use. 22 Met with a Japanese tour guide to discuss a $266,668 tour contract. 31 Paid wages of $1,486. Assume Mark Diamond uses the straightline method to depreciate the assets. Required: 1. Prepare General Journal entries to record the August transactions. (If no entryI is required for a particular transactionfevent, select "Nojournal entryr required" in the first account field.) View transaction list Journal entry worksheet Record the purchase of ofce furniture on account. Note: Enter debits before credits. August [11. 2023Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started