Prepare the journal entries for the following transactions (don't worry about the dates):

1. A businesss owner deposited $220,000 cash into an account opened for the consulting services business.

2. An agreement was signed for the business to provide consulting services for a client for a monthly fee of $1,200 plus GST (10%) to be paid on the fifth day of the following month.

3. Amaze Ltd. purchased land and office building for $500,000 plus GST (10%). The term of the agreement provided for a payment by cheque of $70,000, the remainder to be financed with a 15-year mortgage bearing interest at 6.5% p.a. The purchase price is allocated$320,000 to land and $180,000 to the building.

4. The company purchased office supplies of $3,260 on credit, plus GST (10%)

5. Performed management services for a client. A fee of $12,670 was receivable including15% GST.

6. Paid the monthly telephone bill of $280 including 10% GST

7. A 24-month fire and business liability insurance policy was purchase by Wise services for$2,880 plus GST of $288. The insurance coverage began a month later.

8. Candy services acquired a building for $180,000 and office equipment for $19,200. The building has a useful life of 25 years and a residual value of $30,000. The office equipment has an 8-year useful life and a residual value of zero. Prepare the journal entries for (i)acquisition date ; (ii) monthly depreciation expense

9. Two years later Candy learns that the fair values for office equipment was $2,000 above of the carrying amount.

10. In this question, construct a T account and show the movements in the relevant account.The warranty account had an opening balance of $200 and a closing balance of $800. During the year the company recorded a warranty expense of $700. How much cash did the company pay for warranty this year?

11. In this question, construct a T account and show the movements in the relevant account.The unearned revenue account had an opening balance of $8,000 and a closing balance of$12,000. During the year the company recorded a revenue of $10,000. How much cash did the company receive from clients this year?