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Please help with accounting journal entries Date 8 9 14 15 16 23 23 28 31 Transaction Your company receives a check for the full
Please help with accounting journal entries
Date 8 9 14 15 16 23 23 28 31 Transaction Your company receives a check for the full amount due from the customer for the sale from November 30. Your business receives $3,000, in advance, from customers for services/sales that will be performed during January. You are getting overwhelmed and decide to hire an assistant. Paid the cell phone invoice outstanding at November 30. Issue a check to your CMO for the amount owed for the design of the website. Additional revenue during the month amounts to $6,500. (You have not had time to account for each sale/service individually.) $4,500 in cash has been collected and the rest is still outstanding. (This is in addition to the December 9 transaction.) Additional supplies purchased during the month amount to $750 cash. Pay a dividend of $1 , 250 to the common shareholder (Yourself). You pay your assistant $10/hour for the amount worked in December. She has worked 4 hours per day for 10 days, since the date of hire. Additional information for December is as follows: #2 #3 #5 #6 #7 A count reveals that $120 of your supplies were used. Depreciation is recorded on the equipment purchased in November. The computer has a useful life of 5 years and the equipment purchased on November 1 7th has a useful life of 10 years. Assume that 2 months' worth of depreciation is required. Round to nearest dollar. Interest on the 8% note payable is accrued. (Assume that 1.5 months of interest accrued during November and December.) Round to nearest dollar. One month's worth of insurance has expired. Receive a call on December 28 with a request to perform your services on the last day of December. In early January, your company will send an invoice for $2,500. A cell phone invoice is received for $215. The invoice is for services provided during the month of December and is due on January 15. (Use "Accounts Payable"). Because of the unexpected sale on December 31, the assistant worked 7 hours at a rate of $15 per hour. You've already processed payroll for December, so your assistant will not get paid until next month.
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