Question
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, $36,000.b/ Paid October rent for office and workroom, $2,400.c/ Purchased used automobile for $32,800, paying $7,800 cash and giving a note payable for the remainder.d/ Purchased office and computer equipment on account, $9,000.e/ Paid cash for supplies, $2,150.f/ Paid cash for annual insurance policies, $4,000. g/Received cash from client for plans delivered, $12,200.h/ Paid cash for miscellaneous expenses, $815.I/ Paid cash to creditors on account, $4,500. j/Paid $5,000 on note payable.k/ Received invoice for blueprint service, due in November, $2,890.l/ Recorded fees earned on plans delivered, payment to be received in November, $18,300.m/ Paid salary of assistants, $6,450. n/ Paid gas, oil, and repairs on automobile for October, $1,020. 4. Determine the net income or net loss for October.
A. Find these transactions using journalizing.
B. Find these transactions using T account
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