Question
D. Stone Surveying Co completed these transactions during April of the current year: Apr 1 Began a surveying company by investing $10,000 in cash and
D. Stone Surveying Co completed these transactions during April of the current year:
Apr 1
Began a surveying company by investing $10,000 in cash and
office equipment having a $4575 fair value.
Apr 2
Purchased on credit office supplies, $450, and office equipment, $300.
Apr 3
Completed surveying work for client and was paid immediately $500
Apr 8
Apr. 10
Completed surveying work for Acme Loan Co $1500 on credit
Paid for the items purchased on credit on April 2.
Apr. 14
Paid $2400 premium for the annual insurance policy.
Apr. 15
Paid semi monthly wages of $1500
Apr. 18
Received payment in full from Acme Loan Co. for the work
completed on April 8.
Apr. 27
D. Stone withdrew $1100 cash from the business to pay
personal expenses.
Apr. 30
Paid the April telephone bill, $160.
Prepare general journal entries to record the transactions.
Include the following in each journal entry:
Date________
Account Title and Explanation________
Debit_________
Credit________
Step 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