Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Journalizing Transactions in Template, Journal Entry Form, and T-Accounts Creative Designs, a firm providing art services for advertisers, began business on June 1, 2015. The

image text in transcribed

image text in transcribed

Journalizing Transactions in Template, Journal Entry Form, and T-Accounts Creative Designs, a firm providing art services for advertisers, began business on June 1, 2015. The following transactions occurred during the month of June. June 1: Anne Clem invested $12,000 cash to begin the business in exchange for common stock. June 2: Paid $950 cash for June rent. June 3: Purchased $6,400 of office equipment on account. June 6: Purchased $3,800 of art materials and other supplies; paid $1,800 cash with the remainder due within 30 days. June 11: Billed clients $4,700 for services rendered. June 17: Collected $3,250 cash from clients on their accounts. June 19: Paid $3,000 cash toward the account for office equipment suppliers (see June 3). June 25: Paid $900 cash for dividends. June 30: Paid $350 cash for June utilities. June 30: Paid $2,500 cash for June salaries. Required Record the transactions for June in journal entry form. Note: Use negative signs with your answers. General Journal Date Description Debit Credit June 1 June 2 June 3 June 6 Cash June 11 June 17 June 19 June 25 June 30 (1) June 30 (2)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting And Finance An Introduction

Authors: Eddie McLaney

7th Edition

2309903011, 9781292012650

More Books

Students also viewed these Accounting questions

Question

2.1 Explain how employment-related issues are governed in Canada.

Answered: 1 week ago

Question

2.3 Describe the requirements for reasonable accommodation.

Answered: 1 week ago