Question

The following transactions occurred for Wilke Technology Solutions: 

May 1: The business received cash of $105,000 and issued common stock to Zoe Wilke 

Answer 1

		Amount in $
Date	Accounts and Explanation	Debit	Credit
May-01	Cash	105000
	Common Stock		105000
	Increase in cash is assest and increase in common stock is shareholder fund.
May-02	Office Supplies	550
	Accounts Payable		550
	Increase in office supplies is Expense and Increase in Accounts Payable is Liability
May-04	Land	12000
	Building	45000
	cash		57000
	Increase in Land & Building is Fixed Assest And decrease in Cash is decrease in assest
May-06	Cash	3600
	Service Revenue		3600
	Perfromed service for Customers for cash is Increase in revenue and cash.
May-09	Accounts Payable	350
	Cash		350
	Paid to Accounts payable is decrease in cash And also decrease in Liability.
May-17	Accounts Receivable	3500
	Service Revenue		3500
	Perfromed service for Customers on credit is Increase in revenue and also increase in Accounts receivable.
May-19	Rent Expense	1200
	Cash		1200
	Paid rent expense is Increase in rent (expense) and also decrease in cash(assest).
May-20	Cash	1500
	Unearned Revenue		1500
	Received from customers for services in advance is increase in cash and also increase
	in unearned revenue (i.e. liability).
May-21	Prepaid Advertising	900
	Cash		900
	Paid for advertising in for next month is increase in prepaid advertising(asses) and also
	decrease in cash (assest).
May-23	Cash
	Accounts Receivable	3100
			3100
	Received from Customer is increase in cash(aasest) and also decrase in accounts receivable(assest)
May-31	Salaries Expense	1700
	Cash		1700
	Paid salaries is increase in salaries expense(expense) and decrease in cash(assest).