Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Mong to another questo save the response Questions Butti started his own business. BA Printing Services, on January 1, 2021. The following transactions occurred during
Mong to another questo save the response Questions Butti started his own business. BA Printing Services, on January 1, 2021. The following transactions occurred during the memory Jan 1. Butt invested AED 30,000 cash and brought his own equipment for business use, worth AED 5,000 Jan 2. Purchased a used motor vehicle from Sunshine Auto for AED 25,000. Cash was paid for AED 10,000 and remained 15 days Jan 4. Printed exam papers for The American University and collected cash AED 7400 Jan 8. Butri took a laptop of AED 2,000 from the BA Printing Services, for his personal use. Jan 10, Paid Utility bill for AED 6,500. Jan 12. Purchased Office Supplies for AED 1,650 for cash, Jan 17. Pald the amount owed to Sunshine Auto for the transaction on Jan 2. Jan 18. Paid AED 80,000 office rent for 1 year. Jan 19 Butti withdrew 4,000 cash for personal use. Jan 20. Received AED 2,480 from Sharjah Men's College for printing orders for brochures and invitation cards for March Jan 22. Provided printing services for Al Habtour Company, AED 1,250. The client will pay after 7 days sement AED 600 Jan 29 Received full payment from the client billed on Jan. 22 Jan 30 Paidres to staff for AED 20.000 Butt Capital Equipment Cash Account Payable Office Supplies Advertising Expense Utility Expense Chart of Accounts Butt Drawings Accounts Receivable Unearned revenue Motor Vehicle Service Revenue Prepaid rent Salaries Expense Required: Please prepare the journal entries for the January transactions using the Chart of Accounts provided above. (Description General Journal Required: Please prepare the journal entries for the January transactions using the Chart of Accounts prouded above General Journal Date Account Title and Description Debit Credit
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started