Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Nov1, 2020 Bob Langley establish a Personal Care business agency. The following transactions are for the first month of operation 1Nov1, 2020 Bob input $32,000

Nov1, 2020 Bob Langley establish a Personal Care business agency. The following transactions are for the first month of operation

1Nov1, 2020 Bob input $32,000 into the business bank account

2Nov2, 2020 Business bought equipment for $7,300 and signing a note for the balance

3Nov3, 2020 Business paid 6 months rent for $12,000

4Nov7, 2020 Business purchased $4320 office supplies on credit.

5Nov8, 2020 Billed the cleint for $17,200 services completed on account

6Nov9, 2020 Receive a bill from Adverstising agency for $2500 on account

7Nov12, 2020 found the defective supplies from the Nov7 purchase, return $500 supplies back to the supplier

8Nov15, 2020 paid amount due in the Nov9 transaction

9Nov20, 2020 Received $7,500 from the Nov8 transaction

10Nov25, 2020 Paid the balance due for Nov7 transaction

11Nov30, 2020 received the Nov utility bill for $830, it wil be paid in Dec, 2020

12Nov30, 2020 Paid employee salary for $6,300.

Please prepare journal entries for the above transactions.

Step by Step Solution

3.49 Rating (159 Votes )

There are 3 Steps involved in it

Step: 1

Solution Journal Entries In the books of Bob Langley Date Par... 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

Financial Accounting Tools for business decision making

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

6th Edition

978-1119191674, 047053477X, 111919167X, 978-0470534779

More Books

Students also viewed these Accounting questions