Question
The company had the following transactions during September . a)Sept. 1 - The company sold shares of common stock for $30,000 cash. b)Sept. 1 -
The company had the following transactions during September.
a)Sept. 1 - The company sold shares of common stock for $30,000 cash.
b)Sept. 1 - The company purchased a one-year insurance policy for $300 in cash.
c)Sept. 1 - The company purchased office equipment costing $8,000 by signing a 6% note. The Equipment has a 5 year life and no salvage value. The note requires monthly principal payments of $225 beginning on October 1st until the balance is paid.
d)Sept. 10 - The company purchased $735 of office supplies for cash.
e)Sept. 15 - The company paid legal and registration fees to register their trademark which is his nickname "Sanchize." The fees incurred totaled $4,000, which were paid in cash.
f)Sept. 29 - The company billed customers $5,500 for consulting services performed.
g)Sept. 30 - The company paid $1,450 for employee's salary.
h)Sept. 30 - Since the company had a good month so Sanchez declared a $1,000 dividend to be paid on October 10th.
i)On September 30th, the company took an inventory of the supplies and found that they had $500 of supplies on hand.
ii)Equipment purchased before the 15th of the month are depreciated for a whole month using the straight-line method.
iii)On October 3rd received the September utilities bill for $188.
Required:
a.Journalize the transactions.
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