Question
Enter the below transection into Journal Entries/Trial Balance Waters started an environmental consulting company and during the first month of operations, the business completed the
Enter the below transection into Journal Entries/Trial Balance
Waters started an environmental consulting company and during the first month of operations, the business completed the following transactions. Record each transaction in the journal below.
Apr. 2 Waters began the business with an investment of$75,000 cash and a building valued at $25,000 . Apr. 3 Purchased office supplies on account, $2,000.
Apr. 4 Paid cash for office fu rniture , $14 ,000.
Apr. 5 Performed consulting services on account, $5,000. Apr. 8 Paid $1,000 on the account payable created on Apr. 3.
Apr.10 Received a $2,500 bill for advertising expense that will be paid in the near future. Apr.15 Paid cash for employee's salary, $2,200.
Apr. 19 Received cash on account, $1,000.
Apr. 25 Paid cash for the following expenses: Rent $1,000, Utilities $450, Security Service $250. Apr. 30 Waters withdrew cash, $4,500.
ADJ-01 Office supplies on hand at Apr 30 were $1,500. Make the adjusting journal entry.
ADJ-02 Accrued employee salaries at Apr 30 were $1,000. Make the adjusting journal entry. ADJ-03 building depreciation for the month was $208. Make the adjusting journal entry.
ADJ-04 Furniture depreciation for the month was $167. Make the adjusting journal entry .
ADJ-OS Accrued revenue for services performed at Apr 30 were $2,500. Make the adjusting journal entry.
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