Question
Can someone solve this problem (P2-31A) from Financial Accounting 1st Edition by Jeffery Waybright and Robert Kemp. It is in chapter 2, Problem P2-31A. I
Can someone solve this problem (P2-31A) from Financial Accounting 1st Edition by Jeffery Waybright and Robert Kemp. It is in chapter 2, Problem P2-31A. I am struggling with formatting all of the journalizations. I need instruction of how to post each tranaction in the journal, as well as what transaction goes where. I have completed the problem to the best of my skill level, and I really need a reference! I would like to know if someone can demonstrate how to journalize each of the tranasactions presented in the problem.
Journalize each of the following transactions
Angela Rodriguez practices law under the business title Angela Rodriguez Attorney at Law, Inc. During June, her law practice engaged in the following transactions.
1 Sold $60000 of stock to Rodriguez to start the business
3 Paid $500 for the purchase of office supplies
8 Paid $34000 cash to purchase land for an office site
12 Purchased office equipment on account for $3800
17 Borrowed $15000 from the bank. Rodriguez signed a note payable to the bank in the name of the business
26 Paid $2500 on account
30 Revenues earned during the month included $7000 cash and $9000 on account
30 Paid employees salaries, $2800; office rent, $3600; and utilities $600
30 Paid $6000 of dividends to stockholder, Rodriguez
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