Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

estion 6 of 6 0.13/1 ew Policies tow Attempt History Current Attempt in Progress 2 Julia Dumars is a licensed CPA. During the first month

image text in transcribed
image text in transcribed
estion 6 of 6 0.13/1 ew Policies tow Attempt History Current Attempt in Progress 2 Julia Dumars is a licensed CPA. During the first month of operations of her business, Sunland Company, the following events and transactions occurred. May 1 Stockholders invested $21,100 cash in exchange for common stock. Hired a secretary-receptionist at a salary of $1,600 per month Purchased $2,300 of supplies on account from Vincent Supply Company. Paid office rent of $810 cash for the month. Completed a tax assignment and billed client $3,500 for services performed. Received $2,900 advance on a management consulting engagement Received cash of $1,800 for services performed for Orville Co. Paid secretary-receptionist $1,600 salary for the month. Paid 40% of balance due Vincent Supply Company. 3 7 11 12 17 31 31 Julia uses the following chart of accounts: No. 101 Cash, No. 112 Accounts Receivable, No. 126 Supplies, No. 201 Accounts Payable, No. 209 Uneamed Service Revenue, No. 311 Common Stock, No. 400 Service Revenue, No. 726 Salaries and Wages Expense, and No. 729 Rent Expense. Your answer is partially correct. Journalize the transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem If no entry is required, select "No Entry for the account titles and enter "on for the amounts.) Date Account Titles and Explanation Debit 21100 May 1 Cash Common Stock May 2 May 3 May 7 May 11 May 12 May 17 0 (Paid ) (Paid creditor on account) Lot Act Summer 10 2008 ga DII FB F3 F6 F6

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Marketing Audit Guide What It Is Why Your Business Needs One And How To Do It

Authors: Susan G Tyson

1st Edition

B0C12D3DD6, 979-8388994868

More Books

Students also viewed these Accounting questions

Question

5. Do you feel as if your boss controls you?

Answered: 1 week ago

Question

What companies or organizations would you want to work at? Why?

Answered: 1 week ago