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George Titlechild started a new kitchen and bath design business called Litlechild Enterprises. The following activities occurred during its first month of operations, March 2016:
George Titlechild started a new kitchen and bath design business called Litlechild Enterprises. The following activities occurred during its first month of operations, March 2016: a) Littlechild invested $160,000 cash and office equipment valued at $20,000 in the business. b) Purchased a small building for $600,000 to be used as an office. Puid S100,000 in cash and signed a note payable promising to pay the balance over several years e) Purchased 3,000 of office supplies for cash d) Purchased 72,000 of office equipment on credit George Linlechild made reservations at a hotel hosting a kitchen and bath design conference in August 2014. He will send a $1,000 deposit on July 1, 2016 f) Completed a project on credit and billed the client 55,200 for the work Paid cash to a local newspaper $5,500 for an announcement that the office had opened. h) Completed a project for a client and collected $4,000 cash. D Made a $4.000 cash payment on the equipment purchased in (d). 1) Received $2,500 cash from the client described in (). k) Paid $7.000 cash for the office secretary's wages D) Littlechild withdrew 53,600 cash from the company bank account to pay personal living expenses Required: Journalize all transactions in the General Journal
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