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Problem asks to journalize those events accordingly. There is an answer for example A so it should make sense. Please help. Selected transactions for Craig's
Problem asks to journalize those events accordingly. There is an answer for example A so it should make sense. Please help.
Selected transactions for Craig's Dog Care are as follows during the month of March. March 1 Craig deposits $14,000 in a bank account to start a business under the name Craig's Dog Care (CDC). CDC borrows $15,000 from a bank to finance the purchase of a property for use as an office. The loan is to be repaid b. 1 a. in 10 years. C. 1 CDC purchases the property at a cost of $25,000. The full price is paid from the bank account. d. 3 CDC purchases office furniture from King's at a cost of $3,000. The full price is to be paid within 90 days. e. 5 f. 8 An insurance premium of $54 is paid in advance. The insurance cover will commence on April 1. An applicant in interviewed for an assistant position and agrees to start work on March 10 for an annual salary of $24,000. Invoices are sent to some customers for care services provided to them. The total amount is $882. Customers are allowed upto 30 days to pay. Checks are received from some of customers in payment of invoices amount to $762. g. 11 h. 19 i. 26 A payment of $3,000 is made to King's for the purchase of furniture made on March 3. j. 28 Bills are received as follows: for computer rental, $150; utilities, 130. k. 30 The care assistant is paid salary of $1,800 for period to end of month. Journalize the above events. Account title Cr For account titles, choose one among the following: Dr. Dr. Cash Amount Cr 14,000 Example la Contributed capital 14,000 b. C. Not a transaction Accounts payable Accounts receivable Accrued expense payable Cash Computer rental expense Contributed capital LT Notes payable Prepaid insurance expense Property & Equipment Service revenue Utilities expense Wages expense d. e. h. j Select a cell to see the drop-down list for account titlesStep by Step Solution
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