Question
Provide a journal entry for the following tranactions, Diana Mark is the president of ServicePro, Inc., a company that provides temporary employees for not-for-profit companies.
Provide a journal entry for the following tranactions,
Diana Mark is the president of ServicePro, Inc., a company that provides temporary employees for not-for-profit companies. ServicePro has been operating for five years; its revenues are increasing with each passing year. You have been hired to help Diana in analyzing the following transactions for the first two weeks of April:
April 2 | Purchased office supplies for $950 on account. |
April 5 | Billed the local United Way office $4,800 for temporary services provided. |
April 8 | Paid $340 for supplies purchased and recorded on account last period. |
April 8 | Placed an advertisement in the local paper for $850 cash. |
April 9 | Purchased new equipment for the office costing $3,200 cash. |
April 10 | Paid employee wages of $2,100, which were incurred in April. |
April 11 | Received $1,900 on account from the local United Way office billed on April 5. |
April 12 | Purchased land as the site of a future office for $14,500. The land value was appraised as $20,000. Paid $2,900 down and signed a long-term note payable for the balance. |
April 13 | Issued 1,800 additional shares of common stock for $50 per share in anticipation of building a new office. |
April 14 | Billed Family & Children's Services $2,900 for services rendered this month. |
April 15 | Received the April utilities bill for $750 to be paid next month. |
Required: |
For each of the transactions, prepare journal entries. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) |
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