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JOUL MIZI Charms started charms consuming uuringue montron January 2020. She rented a small office and paid a part-time office assistant to help her in

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JOUL MIZI Charms started charms consuming uuringue montron January 2020. She rented a small office and paid a part-time office assistant to help her in the business. Her chart of accounts is as follows: Chart of Accounts Assets: Revenues: 101 Cash 402 Consulting Revenue 104 Accounts Receivable 131 Office Supplies Expenses: 181 Office Equipment 511 Wages Expense 514 Advertising Expense Liabilities: 516 Rent Expense 202 Accounts Payable 519 Telephone Expense 530 Utilities Expense Owner's Equity: 550 Miscellaneous Expense 311 L. Charms, Capital 312 L. Charms, Drawing Required: Open Quickbooks accounting software. Using quickbooks accounting software open Charms Consulting. After company is open, To personalize the company name, go to the Company link at the top of your screen and then scroll down to My Company. Click on the little pencil icon in the upper right corner of the Company Information box to open the edit feature. Place your cursor at the end of the company name and add your name. Click OK to store the changes. 4 6 8 Enter the business's first month's transactions in the general journal (Click Accountant on the main menu and select Make General Journal Entries to open the General Journal Entry window. Remember to change your date for each transaction!) Jan 1 Lucky Charms invested cash in the business, $11,000 3 Purchased office supplies, $500 Paid rent on the office, $800 Received cash for consulting work performed, $1,500 Paid the telephone installation bill, $80 11 Paid the electric bill, $120 Paid the advertising bill, $60 14 Performed consulting work for $650, customer paid $200 in advance and $450 went on the customer's account Paid the part-time worker, $250 17 Received cash on account for services rendered on the 14" $450 18 Purchased a computer and fax machine for $2,000. Paid $500 immediately but put the remainder on account. 20 Received cash for consulting work performed, $910 22 Lucky was feeling lucky, so she withdrew $200 to take a trip to Vegas Paid an additional $1000 on the computer and fax purchased earlier. 29 Purchased additional office supplies on account, $300 30 Paid the part-time worker, $250 13 16 24

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