Question
Please journalize the following business transactions for Hamet A..: Nov. 1 Owner invested 500,000TL cash in the company. Also, she invested equipment (bought by the
Please journalize the following business transactions for Hamet A..: Nov. 1 Owner invested 500,000TL cash in the company. Also, she invested equipment (bought by the owner 2 years ago for 500,000TL and accumulated depreciation on the equipment is 100,000TL, but the current verifiable market value of the equipment is 250,000TL) into the business. Estimated remaining useful life is 4 years. 2 Paid 200,000TL cash for 4 months rent on the store. 4 Purchased 45,000TL of supplies on account. 7 Purchased 100,000TL of equipment for cash. 12 Bought a delivery van paying 50,000TL Cash and signing a note for 50,000TL due in 90 days. 15 Paid 5,000TL cash for employee salaries for time worked 16 Performed services for a customer for 125,000TL. The customer paid 25,000TL cash with the remainder to be paid within 30 days. 20 Sold Computers to a customer on account with credit terms of (5/5, N/60). The computers had been purchased for 40,000TL and are presently sold for 60,000TL 21 Customer returned one of the computers sold on the 20th. The computer is in working condition and can be resold to other customers. The computer had a selling price of 1,500TL 25 Paid 20,000TL on the supplies purchased on Nov. 4. 28 Collected the balance due from the customer of Nov. 20. 30 Made adjusting entries for the prepaid rent and 4,500TL salaries that employees have earned but will not be paid until next month. The company makes adjusting entries every month. Make all entries you can. State any assumptions or estimates you need.
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