Question
Selected activity of Mason Consulting Services follow. DATE TRANSACTIONS 2019 Sept. 1 Zack Mason invested $59,000 in cash to start the firm. 4 Purchased office
Selected activity of Mason Consulting Services follow.
DATE TRANSACTIONS 2019 Sept. 1 Zack Mason invested $59,000 in cash to start the firm.
4 Purchased office equipment for $6,400 on credit from Den, Inc.; received Invoice 9823, payable in 30 days.
16 Purchased an automobile that will be used to visit clients; issued Check 1001 for $14,400 in full payment.
20 Purchased supplies for $510; paid immediately with Check 1002.
23 Returned damaged supplies for a cash refund of $165.
30 Issued Check 1003 for $3,650 to Den, Inc., as payment on account for Invoice 9823.
30 Withdrew $2,900 in cash for personal expenses.
30 Issued Check 1004 for $1,650 to pay the rent for September.
30 Performed services for $2,700 in cash.
30 Paid $430 for monthly telephone bill, Check 1005.
Post the above transactions into the appropriate Ledger accounts (Telephone, Salaries, Capital, Automobile, etc)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started