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Quiz Scott Jameson opened a translation business on January 2, 2019. During the first month of operations, the business completed the following transactions: Jan 2
Quiz Scott Jameson opened a translation business on January 2, 2019. During the first month of operations, the business completed the following transactions: Jan 2 The business received $40,000 cash from Scott Jameson, which was deposited in a business bank account entitled Jameson Translation Service. Jan 3 Purchased supplies, $750, and furniture, $2,800, on account. Jan 3 Paid January rent expense, $1,100. Jan 4 Performed translation services for a client and received cash, $2,250. Jan 7 Paid $28,000 cash to acquire land for a future office site. Jan 11 Translated a brochure for a client and billed the client $1,200. Jan 15 Paid secretary salary, $975. Jan 16 Paid for the furniture purchased January 3 on account. Jan 18 Received partial payment from client on account, $600. Jan 19 Translated legal documents for a client on account, $1,350. Jan 22 Paid the water and electricity bills, $300. an 29 Received $2,700 cash for translation for a client in an overseas business transaction. an 31 Paid secretary salary, $975. an 31 Scott Jameson withdrew $2,000 for personal use. equired: a. Journalize all transactions. b. Open and record the transactions in T-accounts. C. Prepare a Trial Balance. d. Prepare the financial statements
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