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On April 1, Greg Taylor created a new travel agency, Taylor Travel. The following transactions occurred during the company's first month. Apr. 1 Taylor invested
On April 1, Greg Taylor created a new travel agency, Taylor Travel. The following transactions occurred during the company's first month. Apr. 1 Taylor invested $43,000 cash and computer equipment worth $14,400 in the company. Apr. 2 The company rented furnished office space by paying $2,300 cash for the first month's (April) rent. Apr. 3 The company purchased $2,200 of office supplies for cash. Apr. 10 The company paid $3,600 cash for the premium on a 12-month insurance policy. Coverage begins on April 11. Apr. 14 The company paid $1,400 cash for two weeks' salaries earned by employees. Apr. 24 The company collected $18,000 cash for commissions earned. Apr. 28 The company paid $1,400 cash for two weeks' salaries earned by employees. Apr. 29 The company paid $500 cash for minor repairs to the company's computer. Apr. 30 The company paid $650 cash for this month's telephone bill. Apr. 30 Taylor withdrew $2,200 cash from the company for personal use. Information for month-end adjustments follows: a. Prepaid insurance of $200 has expired this month. b. At the end of the month, $850 of office supplies are still available. c. This month's depreciation on the computer equipment is $240. d. Employees earned $560 of unpaid and unrecorded salaries as of month-end. e. The company earned $1,780 of commissions that are not yet billed at month-end, ..... The company purchased $2,200 If office supplies for cash. The company's policy is to initially record all prepaid and unearned items in balance sheet accounts. Note: Enter debits before credits. Account Title Debit Credit Date Apr 03 Record entry clear ante Journal entry worksheet The company paid $1,400 cash for two weeks' salaries earned by employees. Note: Enter debits before credits. Date Account Title Debit Credit Apr 14 View transaction list Journal entry worksheet
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