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Its all the same question a) write journal entrey for it b)prepare an accounting equation Open Questions Question 1. Jack Brown started his own firm,

Its all the same question
a) write journal entrey for it
b)prepare an accounting equation
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image text in transcribed
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Open Questions Question 1. Jack Brown started his own firm, XYZ LLC, on June 1, 2017. The following transactions occurred during the month of June. Required: a) Write journal entry for each of the transaction. (20 points) b) Prepare an accounting equation (10 points) a) June 1 Jack invested $10,000 cash in the business. 1 b) June 2 Paid $700 for office rent for the month. b) June 2 Paid $700 for office rent for the month. c) June 3 Purchased $1,000 of goods for resale on account. d) June 5 Paid $225 to advertise in the County News. e) June 9 sold half of the goods for $3,000 cash. I f) June 12 Withdrew $400 cash for personal use. B) June 15 sold the other half of the goods for $3,400 on account. h) June 17 Paid $2,500 for employee salaries. 1) June 20 Paid for the supplies purchased on account on June 3. 1) June 23 Received a cash payment of $2,000 for goods sold on account on June 15. k) June 26 Borrowed $10,000 from the bank. I - CARA 1) June 29 Purchased equipment for $4,200 on account. m) June 30 Paid $275 for utilities

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