Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Following are the transactions for Valdez Services. a. The company paid $2,000 cash for payment on a 6-month-old account payable for office supplies b. The

image text in transcribed
Following are the transactions for Valdez Services. a. The company paid $2,000 cash for payment on a 6-month-old account payable for office supplies b. The company paid $1,200 cash for the just completed two-week salary of the receptionist c. The company paid $39,000 cash for equipment purchased. d. The company paid $800 cash for this month's utilities. e. Owner (B. Valdez) withdrew $4,500 cash from the company for personal use. 1. Prepare general journal entries for the above transactions of Valdez Services View transaction list View journal entry worksheet No Transaction General Journal Debit Credit a. Accounts payable 2,000 b. Salaries expense 1,200 C. Equipment 39,000 d. Utilities expense 800 B. Valdez, Withdrawals 4,500

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_2

Step: 3

blur-text-image_3

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

Audit Effectiveness Meeting The IT Challenge

Authors: Kamil Omoteso

1st Edition

1409434680, 978-1409434689

More Books

Students also viewed these Accounting questions

Question

f. Did they change their names? For what reasons?

Answered: 1 week ago