PROBLEM 2 23 Simple Transactions A Devon formed a consulting business, Devo Management Consulting in September Operations begin in October The following events occurred during the month of September Devon invested $100,000 into the business She hired an assistant who will be paid $4,000 per month The assistant begins work on Oct 1 Signed a 5 year office lease agreement at $1,000 per month Paid first 3 months in advance Move in date is 10 1 Borrowed $100,000 from the local bank assume last day of the month The loan bears interest at 6 Purchased $40,000 in office equipment and $60,000 in computer equipment assume last day of the month The office equipment will be used for 10 years The computer equipment will be used for 4 years The following events occurred during the month of October Performed consulting Job 1 and was paid $2,500 Performed consulting Job 2 and billed customer for $4,000 Bill is due in Nov Received an advance payment of $1,000 on Job 3 Work will begin in November Paid assistant $2,000 for the first half of the months work Received utility bills electric, phone, gas, etc for the month of October totaling $250 $1,500 payments to the bank $5,000 to cover October loan interest on the loan, with the remainder going to principal I have finished the Part A Simple transactions table posted above all I need completed is what I am posting below which is the Journal and the T Accts charts If an expert can please complete the Journal and the T Acct as soon as possible I would really appreciate it Please and thank you in advance PART A Problem 2A Simple Transactions Adjustments Journal begin tabular l l l l hline Ref Accounts Cr hline hline hline hline hline end tabular Good form 1 Dr Left justified Cr Indented slightly 2 Leave a blank line between each entry 3 No explanations necessary Please note that you must enter Credit entry in the t accounts with a leading negative sign for credit entries

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PROBLEM 2.23: Simple Transactions A. Devon formed a consulting business, Devo Management Consulting in September. Operations begin in October. The following events occurred during the

PROBLEM 2.23: Simple Transactions

A. Devon formed a consulting business, Devo Management Consulting in September. Operations begin in October. The following events occurred during the month of September:

Devon invested $100,000 into the business.
She hired an assistant who will be paid $4,000 per month. The assistant begins work on Oct. 1.
Signed a 5-year office lease agreement at $1,000 per month. Paid first 3 months in advance. Move in date is 10/1.
Borrowed $100,000 from the local bank - assume last day of the month. The loan bears interest at 6%.
Purchased $40,000 in office equipment and $60,000 in computer equipment - assume last day of the month. The office equipment will be used for 10 years. The computer equipment will be used for 4 years.

The following events occurred during the month of October:

Performed consulting Job #1 and was paid $2,500.
Performed consulting Job #2 and billed customer for $4,000. Bill is due in Nov.
Received an advance payment of $1,000 on Job #3. Work will begin in November.
Paid assistant $2,000 for the first half of the months work.
Received utility bills [electric, phone, gas, etc.] for the month of October totaling $250.
$1,500 payments to the bank - $5,000 to cover October loan interest on the loan, with the remainder going to principal.

image text in transcribed

I have finished the Part A Simple transactions table posted above all I need completed is what I am posting below which is the Journal and the T Accts charts.

image text in transcribed

If an expert can please complete the Journal and the T Acct as soon as possible I would really appreciate it. Please and thank you in advance.

PART A: Problem 2A - Simple Transactions \& Adjustments Journal \begin{tabular}{|l|l|l|l|} \hline Ref & Accounts & & Cr. \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} Good form: 1 Dr. Left justified Cr. Indented slightly 2 Leave a blank line between each entry 3 No explanations necessary Please note that you must enter Credit entry in the t-accounts with a leading negative sign for credit entries