Question
Zoe started her own consulting firm, EasyBooks, on 1 May 2022. The following transactions occurred during the first week of January 2023. Prepare journal entries
Zoe started her own consulting firm, EasyBooks, on 1 May 2022. The following transactions occurred during the first week of January 2023.
Prepare journal entries
2nd Zoe purchased a coffee machine to be used by EasyBooks staff. The machine cost $4,290 (GST inclusive). EasyBooks paid a $1,000 deposit with the remainder due in February 2023. 3rd Zoe invoiced her client Quick Logos for $2,200 (GST inclusive) for a consultation. 4th 5th 5th Zoe contracted Quick Logos to design her business logo. She paid $550 (GST inclusive) for the service and the logo was designed on the same day. Quick Logos paid the amount outstanding from January 3rd plus $1,000 carried forward from December 2022. Zoe withdrew $2,000 cash and $100 worth of office supplies from the business.
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To prepare the journal entries for the transactions that occurred during the first week of January 2023 we need to record the relevant accounts and their corresponding debits and credits Lets go through each transaction and create the journal entries 2nd Zoe purchased a coffee machine for EasyBooks The machine cost 4290 GST inclusive and a 1000 deposit was paid with the remainder due in February 2023 Journal Entry Date January 2 ...
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Accounting Tools for Business Decision Making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
5th edition
9780470418239, 470239808, 9780470239803, 470418230, 978-1118128169
