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I needed some help with the journal entries for my accounting class that are attached. If you can provide any assistance with these journal entries
I needed some help with the journal entries for my accounting class that are attached. If you can provide any assistance with these journal entries that would be wonderful. Thank you in advance.
1. Dolly Barton began Barton Office Services in October and during the month completed the following transactions: a. Invested $10,000 cash and $15,000 of computer equipment in exchange for common stock. b. Paid $500 cash for an insurance premium covering the next 12 months c. Completed a word processing assignment for a customer and collected $1,000 cash d. Paid $200 cash for office supplies e. Paid $2,000 for October's rent Prepare journal entries to record the above transactions. Explanations are unnecessary. 2. On Oct 1, 2009, Smith invested $20,000 cash, office equipment costing $15,000, and drafting equipment costing $12,000 into the company in exchange for common stock. Show the general journal entry to record this transaction. 3. Flora Accounting Services completed these transactions in February: a. Purchased office supplies on account, $300 b. Completed work for a client on credit, $500 c. Paid cash for the office supplies purchased in (a) d. Completed work for a client and received $800 cash e. Received $500 cash for the work described in (b) f. Received $1,000 from a client for accounting services to be performed in March. Prepare journal entries to record the above transactions. Explanations are not necessaryStep by Step Solution
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