Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please answer fast I have exam Question 14 (19 points) Saved Ramandeep Kaur started a moving company and completed the following activities during June 2021,

image text in transcribed

please answer fast I have exam

Question 14 (19 points) Saved Ramandeep Kaur started a moving company and completed the following activities during June 2021, the first month of operations: June 1 Ramandeep invested $15,000 cash and equipment with a fair value of $40,000 in the business June 4 Paid $2,000 for this month's rent. June 5 Purchased supplies totaling $1,200 to be paid for within 30 days. June 10 Purchased a truck for the business on credit for $58,000 by signing a note payable June 15 Completed $3,200 in services for a client, which was immediately collected June 18 Paid $2,400 for the annual premium on an insurance policy June 25 Paid for the supplies purchased on June 5th June 29 Received the June telephone bill in the amount of $120 which is due in 10 days June 30 Ramandeep withdrew $2,000 cash from the business for personal use. REQUIRED: Prepare the journal entries for the above transactions on the general journal form provided below. 11 + 20 Paragraph I B UA GENERAL JOURNAL ACCOUNT TITLES AND DEBIT CREDIT DATE EXPLANATION

Step by Step Solution

There are 3 Steps involved in it

Step: 1

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

Step: 3

blur-text-image

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

Modern Management Control Systems Text And Cases

Authors: Kenneth A. Merchant

1st Edition

0135541557, 978-0135541555

More Books

Students also viewed these Accounting questions

Question

Find the investors expected profit.

Answered: 1 week ago