Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I just need I. PA5. LO 8.5 Inner Resources Company started its business on April 1, 2019. The following transactions occurred during the month of

I just need I.
image text in transcribed
image text in transcribed
PA5. LO 8.5 Inner Resources Company started its business on April 1, 2019. The following transactions occurred during the month of April Prepare the joumal entries in the joumal on Page 1. A. The owners invested $8,500 from their personal account to the business account B. Paid rent $650 with check \#101. C. Initiated a petty cash fund $550 check #102. D. Received $750 cash for services rendered. E. Purchased office supplies for $180 with check #103. F. Purchased computer equipment $8,500, paid $1,600 with check #104 and will pay the remainder in 30 days. G. Received $1,200 cash for services rendered. H. Paid wages $560, check \# 105 . I. Petty cash reimbursement office supplies $200, Maintenance Expense $140, Miscellaneous Expense \$65. Cash on Hand \$93. Check \#106. J. Increased Petty Cash by $100, check \#107. Solution I. Office Supplies Maintenance Expense Miscellaneous Expense Cash over and short Cash 457

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

Step: 3

blur-text-image

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

Understanding Financial Accounting A Guide For Non-specialists

Authors: Jimmy Winfield, Mark Graham, Taryn Miller

1st Edition

0198847270, 9780198847274

More Books

Students also viewed these Accounting questions

Question

What do you consider your core values?

Answered: 1 week ago