Answered step by step
Verified Expert Solution
Question
1 Approved Answer
William Curtis is a personal finance expert and owns Much Money Consulting. This is his first month of operations and William has hired you to
William Curtis is a personal finance expert and owns Much Money Consulting. This is his first month of operations and William has hired you to do his accounting. The following transactions are for the month of October.
- On October 2, William Curtis invested $32,600 cash into his business.
- On October 4, purchased $925 of office supplies for cash.
- On October 6, purchased $13,600 of office equipment on credit.
- On October 10, received $3,000 cash as revenue for being a guest on the TV showCityTalk.
- On October 12, paid for the office equipment purchased in transaction (c).
- On October 16, billed a customer $5,400 for delivering a corporate workshop on smart investing.
- On October 18, paid October's rent for the downtown office with $3,500 cash.
- On October 26, collected all cash for the account receivable created in transaction (f).
- On October 31, withdrew $5,000 cash from the business for a trip to Hawaii.
1.Not available in Connect.
2.Not available in Connect.
3.Prepare the journal entries for the month of October.
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