Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Help jounalizing, updating Ledger Accounts, and unadjusted trial balance for Bernard Consulting, owned by Olivia Bernard. Mnalyze, journalize (pg. 3) and update the ledger accounts
Help jounalizing, updating Ledger Accounts, and unadjusted trial balance for Bernard Consulting, owned by Olivia Bernard.
Mnalyze, journalize (pg. 3) and update the ledger accounts (pgs. 5-6) for the following Januar 20x5 transactions for Benard Consulting, a proprietorship owned by Olivia Benard: a. 1-Jan: Olivia Benard makes an investment into the company of $5,000 b. 1-Jan: January rent is paid for office space in the amount of $1,500 C. 1-Jan: An annual comprehensive insurance policy is purchased for $1,800. d. 3-Jan: Provided consulting services for $3,000, due from the customer on 2/3/20X5. e. 3-Jan: Purchased supplies on account of $1,100. f. 10-Jan: Provided services for cash of $2,100. g. 12-Jan: Purchased office equipment paying cash of $1,000. h. 16-Jan: Paid $900 to vendors on account. i. 25-Jan: Provided services on account for $2,500. j. 28-Jan: Received payment on account of $3,000 k. 30-Jan: Olivia Benard withdrew $500 from the company for personal use. Date Post Ref Debit Credit Balance Debit Credit Account: Accounts Receivable Account No: Balance Date Post Ref Debit Credit Debit Credit Account: Supplies Account No: Balance Date Post Ref Debit Credit Debit Credit 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