Answered step by step
Verified Expert Solution
Question
1 Approved Answer
plz answer these jornal entries quickly Make journal entries for each of the transactions listed below for the month of January 2018 for Alpha Accounting
plz answer these jornal entries quickly
Make journal entries for each of the transactions listed below for the month of January 2018 for Alpha Accounting Services. Identify each transaction by the date. 1. On January 01, Mary Smith invested $50,000 in cash to start an accounting office. 2. On January 02, purchased office furniture for $8,000 3. On January 03, purchased office equipment on credit for $10,000 4. On January 03, purchased a 12-month (1 year) insurance policy for $1,200. 5. On January 03, purchased $400 of office supplies on credit 6. On January 07 paid $4,000 for the first week's salary. 7. On January 10, billed a client $1,000 for accounting services completed. 8. On January 12, received a check for $1.000 from a customer in payment for accounting services billed on January 10. 9. On January 14, paid $4,000 for office salaries and wages. 10. On January 15, paid for the office supplies purchased on January 3. 11. On January 15, Mary withdrew $4,500 in cash from the business for living expenses. 12. On January 25, provided accounting service to a customer for $2,000, receiving $1,000 in cash and issued a bill for $1,000 13. On January 31, paid rent for the month (of January) $2,500. 14. On January 31, received the utilities bill for the month of $800. 15. On January 31, received a bill for $600 for advertising for January. 16. On January 31, purchased equipment for $8,000, paying $3,000 in cash and $5,000 on credit. 16. On January 31, purchased equipment for $8,000, paying $3,000 in cash and $5,000 on credit. 17. Record January 2018 portion of insurance which was paid on January 01. Paragraph Arial 3 (12pt) T TT. - DOO HTML CSS $x MashupsStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started