Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Prepare journal entries. Be sure all dates agree with the problem and are not today's date: For 6/1/2015: Go to + for making journal entries:

image text in transcribed

Prepare journal entries. Be sure all dates agree with the problem and are not today's date: For 6/1/2015: Go to + for making journal entries: opening equity and title equity as EQUITY. Deposit $150,000 to Cash In side panel memo of cash write: Initial deposit from owner For 6/3/2015: Buys for cash furniture and equipment from Weiss, add new vendor Weiss, for $50,000. In side panel memo of cash write: For furniture and equipment from Weiss For 6/10/2015: Deposit on bank money market the amount of $40,000 from Pat B, add new customer, Pat B, for Consulting Revenue In side panel memo of cash write: Work completed on 6/10/15 for Pat B For 6/20/2015: Pay Wansi, add new vendor Wansi, for $5,000 for purchase of supplies which are other current assets, inventory In side panel memo of cash write: For purchase of supplies from Wansi For 6/30/2015: Deposit on bank money market the amount of $120,000 from Bill Mak, add new customer, Bill Mak, for Consulting Revenue In side panel memo of cash write: Work completed on 6/30/2015 for Bill Mak For 6/30/2015: Pay #1 Employee, add new employee #1 Employee, for $3,000 In side panel memo of cash write: Payroll expense to #1 Employee for month of June 2015

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

Fraud Examination And Prevention

Authors: W. Steve Albrecht, Chad O. Albrecht

1st Edition

053872689X, 978-0538726894

More Books

Students also viewed these Accounting questions

Question

6. Explain what causes unsafe acts.

Answered: 1 week ago