Question
How do i have to solve this problem? Step by steps please Diana Mark is the president of ServicePro, Inc., a company that provides temporary
How do i have to solve this problem?
Step by steps please
Diana Mark is the president of ServicePro, Inc., a company that provides temporary employees for not-for-profit companies. ServicePro has been operating for five years; its revenues are increasing with each passing year. You have been hired to help Diana in analyzing the following transactions for the first two weeks of April:
April2Purchased and received office supplies for $1,400 on account.April5Billed the local United Way office $6,600 for temporary services provided.April8Paid $430 for supplies purchased and recorded on account last period.April8Placed an advertisement in the local paper for $1,300 cash.April9Purchased new equipment for the office costing $4,100 cash.April10Paid employee wages of $3,000 incurred in April.April11Received $2,800 on account from the local United Way office billed on April 5.April12Purchased land as the site of a future office for $19,000. The land value was appraised as $29,000. Paid $2,700 down and signed a long-term note payable for the balance.April13Issued 2,700 additional shares of common stock for $50 per share in anticipation of building a new office.
April14Billed Family & Children's Services $3,800 for services rendered this month.April15Received the April utilities bill for $1,200 to be paid next month.
Required:
For each of the transactions, prepare journal entries.(If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
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