Question
GL0202 (No Analysis Tab) - Based on Exercise 2-9 LO A1 Prepare journal entries for each transaction and identify the financial statement impact of each
GL0202 (No Analysis Tab) - Based on Exercise 2-9 LO A1
Prepare journal entries for each transaction and identify the financial statement impact of each entry. The financial statements are automatically generated based on the journal entries recorded.
| Jan. | 1 | Carlos Sanchez, owner, invested $151,750 cash in the company. | ||
| Jan. | 2 | The company purchased office supplies for $2,950 cash. | ||
| Jan. | 3 | The company purchased $12,050 of office equipment on credit. | ||
| Jan. | 4 | The company received $18,900 cash as fees for services provided to a customer. | ||
| Jan. | 5 | The company paid $12,050 cash to settle the payable for the office equipment purchased on January 3. | ||
| Jan. | 6 | The company billed a customer $4,400 as fees for services provided. | ||
| Jan. | 7 | The company paid $2,925 cash for the monthly rent. | ||
| Jan. | 8 | The company collected $2,400 cash as partial payment for the account receivable created on January 6. | ||
| Jan. | 9 | Carlos Sanchez withdrew $12,300 cash from the company for personal use. |
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Managerial Accounting Creating Value In A Dynamic Business Environment
Authors: Ronald Hilton, David Platt
13th Edition
1264100698, 9781264100699
