Question
Journalize the transactions in the general journal. Lisa Crusher is a licensed CPA. During the first month of operations of her business (a sole proprietorship),
Journalize the transactions in the general journal.
Lisa Crusher is a licensed CPA. During the first month of operations of her business (a sole proprietorship), the following events and transactions occurred.
April
2 Invested $28,720 cash and equipment valued at $11,820 in the business.
2 Hired an administrative assistant at a salary of $299 per week payable monthly.
3 Purchased supplies on account $594. (Debit an asset account.)
7 Paid office rent of $629 for the month.
11 Completed a tax assignment and billed client $935 for services rendered. (Use Service Revenue account.)
12 Received $2,997 advance on a management consulting engagement.
17 Received cash of $2,046 for services completed for Ferengi Co.
21 Paid insurance expense $113.30Paid administrative assistant $1,196 for the month.
30 A count of supplies indicated that $131 of supplies had been used.
30 Purchased a new computer for $5,272 with personal funds. (The computer will be used exclusively for business purposes.)
Date/Account Titles and Explanation/Debit/Credit
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