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In January, Hermaine LaCaine formed the Uzbek Consulting Co. The following transactions occurred during the first month. Correctly complete the attached T-Account form; name each
In January, Hermaine LaCaine formed the Uzbek Consulting Co. The following transactions occurred during the first month. Correctly complete the attached T-Account form; name each account; include + and -, and include the Dr. and Cr. abbreviations for each account; prove your accounts on the same form (Dr. = Cr.?).
- Jan. 3: LaCaine deposited $30,000 in the bank in Uzbeks name to start the company.
- Jan. 4: Paid the rent of $650 for the month
- Jan. 4: He bought $5,000 worth of office equipment for cash.
- Jan. 10: Was paid in cash $3,875 for political consulting services.
- Jan. 15: Bought a $2,810 desktop computer on account from Acme Computers.
- Jan. 18: Performed consulting services worth $4,250 and billed the client.
- Jan. 22. Paid $1,000 to Acme Computers on account.
- Jan. 28: Received and paid the PG&E bill for $105.
- Jan. 31: Took $6,000 for Personal Expenses which he did not tell Mrs. LaCaine about!
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