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Zhi Suna opened a renovation business called Craft Construction on September 3 , 2 0 2 3 . During the first month of operations, the
Zhi Suna opened a renovation business called Craft Construction on September During the first month of operations, the business completed the following transactions:
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Record each transaction in the journal with an explanation. Identify each transaction by date. Use the following accounts: Cash; Accounts Receivable; Supplies; Furniture; Land; Accounts Payable; ZSuna, Capital; Z Suna, Withdrawals; Service Revenue; Rent Expense; Salaries Expense.
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Part
Requirement Record each transaction in the journal with an explanation, using the account titles provided. Identify each transaction by date.
Start with the September rd transaction. Zhi deposited a cheque for $ comma into the business bank account to start the business. Record the investment. Record debits first, then credits. Select the explanation on the last line of the journal entry table.
Date
Accounts
Debit
Credit
September
Part
September Purchased supplies, $ and furniture, $ comma on account. Make a compound entry.
Date
Accounts
Debit
Credit
September
Part
September Paid September rent expense, $ comma cash.
Date
Accounts
Debit
Credit
September
Part
September Performed design service for a client and received $ comma cash. Record the transaction.
Date
Accounts
Debit
Credit
September
Part
September Paid $ comma cash to acquire land for a future office site. Go ahead and record the purchase.
Date
Accounts
Debit
Credit
September
Part
September Designed a bathroom for a client, billed the client, and received her promise to pay the $ comma within one week.
Date
Accounts
Debit
Credit
September
Part
September Paid for the furniture purchased September on account. Recall that the purchase price was $ comma
Date
Accounts
Debit
Credit
September
Part
September Paid assistant's salary, $ cash.
Date
Accounts
Debit
Credit
September
Part
September Received cash on account $ comma
Date
Accounts
Debit
Credit
September
Part
September Received $ comma cash from a client for renovation of a cottage
Date
Accounts
Debit
Credit
September
Part
September Prepared a recreation room design for a client on account, $ comma
Date
Accounts
Debit
Credit
September
Part
September Paid assistant's salary, $ cash. Record the entry.
Date
Accounts
Debit
Credit
September
Part
September Zhi withdrew $ comma cash, for personal use.
Date
Accounts
Debit
Credit
September
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