nonday Saved Help S. Elizabeth Wong has strong problem-solving skills and loves to work with people. After becoming a Certified Human Resources Professional (CHRP) and working for several companies, she opened her own business, HR Solutions. She completed the following transactions during May 2020: May 1 Invested $70,000 in cash and office equipment that had a fair value of 543,000 in the business. 1 Prepaid $12,900 cash for three months' rent for an office. 2 Made credit purchases of office equipment for $21,500 and office supplies for $4,300. 6 Completed a report on hiring solutions for a client and collected $7,500 cash. 9 Completed a $15,500 project Implementing a training program for a client, who will pay within 30 days. 10 Paid half of the account payable created on May 2. 19 Paid $7,000 cash for the annual premium on an insurance policy. 22 Received $12,300 as partial payment for the work completed on May 9. 25 Developed a performance review process for another client for $4,780 on credit. 25 Paid wages for May totalling $31,500. 31 Withdrew $4,500 cash from the business to take a trip to Paris in June. 31 Purchased $1,350 of additional office supplies on credit. 31 Paid $1,350 for the month's utility bill. Required: 1. Prepare journal entries to record the transactions. View transaction list Journal entry worksheet Prey 1 of 5 Next > Syed Help Save onday 0 Journal entry worksheet 2 BE ORA 1 search Samed Help Save 283. Complete the following accounts (use the balance column format or T-accounts): Cash (101): Accounts Receivable (106): Office Supplies (124): Prepaid Insurance (128): Prepaid Rent (131): Office Equipment (163); Accounts Payable (201): Elizabeth Wong, Capital (301): Elizabeth Wong. Withdrawals (302); Services Revenue (403): Wages Expense (623); and Utilities Expense (690). Post the entries to the accounts. (Record the transactions in chronological order.) 101: Cash Debit Date PR Credit Balance G1 G1 G1 G1 G1 G1 G1 G1 G1 Prey 1 of 5 Next > II search CHE O HUHU Help Save PR Credit Balance G1 G1 G1 G1 124:fice Supplies Debit Balance Credit PR Date G1 G1 Prey 1 of 5 Next > earch o am monday Savad Help G1 G1 G1 128: Prepaid Insurance Credit Balance Date PR Frbit G1 G1 G1 Prey 1 of 518 Next > Search O dll day 1 Help 131 Prepaid Rent Debit PR G1 G1 G1 163: Office Equipment Credit PR Date +ebit Balance G1 G1 G1 Prev 1 of 5 Next > O e to search monday Help Sau 2012 PR Crodh G1 G1 G1 G1 301: Elizabeth Wong. Capital PR Credit Balance Date ebit G1 G1 G1 Prey Next > 1 of 5 3 1 o search monday 0 Saved 302: Elizabeth Wong, Withdrawals PR Debit Credit Date Balance G1 G1 G1 Date Balance 403: Services Revenue PR +ebit Credit G1 G1 G1 Prev 1 of 5 !!! Next > to search Forudy i Seved 623: Wages Expense Debit Credit Date PR Balance G1 G1 G1 690: Utilities Expense Credit Balance Date PR abit G1 G1 G1 Prey 1 of 5 II Next > i o e to search SVE 4. Prepare a trial balance at May 31, 2020. HR SOLUTIONS Trial Balance May 31, 2020 Account Titles Debit Credit Totals S 0$ 0 1 of 5 Next > C
