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Connie Young, an architect, opened an office on October 1, 2019. During the month, she completed the following transactions connected with her professional practice a.
Connie Young, an architect, opened an office on October 1, 2019. During the month, she completed the following transactions connected with her professional practice a. Transferred cash from a personal bank account to an account to be used for the business, $37,200. b. Paid October rent for office and workroom, $3,700. c. Purchased used automobile for $24,000, paying $5,600 cash and giving a note payable for the remainder. d. Purchased office and computer equipment on account, $7,400. e. Paid cash for supplies, $1,790. f. Paid cash for annual insurance policies, $2,500. 9. Received cash from client for plans delivered, $9,300. h. Paid cash for miscellaneous expenses, $1,010. i. Pald cash to creditors on account, $2,160. j. Paid $300 on note payable. k. Received invoice for blueprint service, due in November, $1,200. 1. Recorded fees earned on plans delivered payment to he received in November, $6,400. m. Paid salary of assistants, $2,000. n. Paid gas, oil, and repairs on automobile for October, $480. Required: 1. Record the above transactions (in chronological order) directly into the T accounts. To the left of the amount entered in the accounts, select the appropriate letter to identify the transaction. 2. Determine account balances of the T accounts. Accounts containing a single entry only (such as Prepaid Insurance) do not need a balance. Cash Previous Next > Submit Assignment for Grading All work saved. Email Instructor 0:43:24 Calculator Connie Young, an architect, opened an office on October 1, 2019. During the month, she completed the following transactions connected with her professional practice a. Transferred cash from a personal bank account to an account to be used for the business, $37,200. b. Pald October rent for office and workroom, $3,79 a. c. Purchased used automobile for $24,000, paying cash and giving a note payable for the remainder. d. Purchased office and computer equipment on acab. ,400. e. Paid cash for supplies, $1,790. f. Paid cash for annual insurance policies, $2,500. g. Received cash from client for plans delivered, 59 d. h. Paid cash for miscellaneous expenses, $1,010. I. Paid cash to creditors on account, $2,160. 1. Paid $300 on note payable. k. Received invoice for blueprint service, due Noy $1,200. 1. Recorded fees earned on plans delivered, paymel 9. received in November $6,400. m. Paid salary of assistants, $2,000. 1 n. Paid gas, oil, and repairs on automobile for Octo b . - ...: Required: - - directly into the T accounts. To the left of the amount entered in the accounts, select the appropriate letter to 1. Record the above transactions (in chronological identify the transaction. k. - 2. Determine account balances of the accounts containing a single entry only (such as Prepaid Insurance) do not need a balance Previous Next Email Instructor Subme Assignment for Grading Submit All work saved maining: 0:42:53
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