Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Prepare journal entries for the transactions for Gordon Co for the month of July 2021. Barry Gordon invested 30,000 to start the business 7/2 7/3

Prepare journal entries for the transactions for Gordon Co for the month of July 2021. Barry Gordon invested 30,000 to start the business 7/2 7/3 7/5 7/9 Paid 1,100 for the current month's rent Purchased 1,500 of supplies on account. Purchased advertising from Evening Journal at a cost of 1,250 payable in 15 days. 7/15 Provided 2,000 of service to H Co. collected 500 cash and balance on account 7/19 Paid for advertising purchased from the Evening Journal on 7/9 7/21 Purchased equipment from T Co. for 6,500, paid cash 1,500 and balance on account 7/24 Hired assistant at a salary of 750 per week 7/28 Received 1,000 cash advance for service to be provided in August 7/29 Received utility bill for 225 7/30 Collected accounts receivable from H Co. 7/31 Gordon withdrew 2,000 cash for personal use 7/31 Paid assistant 750 salary for the week

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

Managerial Accounting Working Papers Tools For Business Decision Making

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

4th Edition

0470128887, 978-0470128886

More Books

Students also viewed these Accounting questions

Question

=+ Should the MNE belong (why, why not)?

Answered: 1 week ago

Question

=+ What is the role of government in bargaining?

Answered: 1 week ago