Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

SECTION A: Journal Entries Amandacom is a small company. The following transactions happened during the month of June. Prepare your journal entries for these transactions.

image text in transcribed

SECTION A: Journal Entries Amandacom is a small company. The following transactions happened during the month of June. Prepare your journal entries for these transactions. June Transactions 1. Jun 11, Received $150,000 cash from investors for their ownership in the company. 2. Jun 14, Purchased inventory on credit for $5,000. 3. Jun 17, Paid $500 cash for office supplies. 4. Jun 22, Paid $275 cash to hourly employee. 5. Jun 23, Purchased equipment on credit for $2,000. 6. Jun 24, Purchased office supplies for $250 on credit. 7. Jun 31, Purchased van for $4,440 on credit. 8. Jun 31, Prepaid rent by credit for the month of August $800. 9. Jun 31, Received another $3,000 cash from investors for their ownership in the company. 10. Jun 31, Paid two utility bills, one for $35 on cash and another for $50 on credit

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Management Systems Auditing A Practitioners Guide To Quality And Management Systems Audit

Authors: Dr Warren Doudle

1st Edition

B0C6W3G4W4, 979-8397130271

More Books

Students also viewed these Accounting questions

Question

List the benefits of depositary receipts to the investors.

Answered: 1 week ago

Question

Define induction and what are its objectives ?

Answered: 1 week ago

Question

Discuss the techniques of job analysis.

Answered: 1 week ago

Question

How do we do subnetting in IPv6?Explain with a suitable example.

Answered: 1 week ago

Question

Explain the guideline for job description.

Answered: 1 week ago

Question

What is job description ? State the uses of job description.

Answered: 1 week ago