Question
November 23, 2017 Mark gives personnel a paid holiday. Since the company does not have a leave policy in place yet, this holiday will not
November 23, 2017 | Mark gives personnel a paid holiday. Since the company does not have a leave policy in place yet, this holiday will not affect payroll at end of month. |
November 26, 2017 | Vic and Emelia work 3 hours each to clean up after the Iron Bowl party. |
November 27, 2017 | Mark purchases gas for the truck for $46. On the way home, Mark decides he needs to pay his own personal bills so he draws $1200 for personal use from the business. Linda calls Mark to inform him that Warhawk Gym has paid their bill within the discount period. |
November 29, 2017 | Mark negotiates a deep cleaning of a bathtub at the home of the Smith family for that afternoon. He is paid $250 for this service. Mark purchases a special tool to complete this cleaning at Lowes for $2000 and pays cash. Vic completes the service by 5:00 pm. Mark asks one of the store managers their opinion on the useful life of the tool and they give him an estimate of 3 years with $0 residual value. Mark determines that he will use that estimate for depreciation purposes for the tool. |
What are the journal entries?
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