Following are the journal entries for the month of November 2017:-
| Date | accounts | debit | credit |
| Nov 1. |
Cash Law library Common stock (To Cash and law library contributed for common stock ) |
15000 6000 |
21000 |
| Nov 2. |
Office equipment Staples (To office equipment purchased from Staples on credit) |
7500 |
7500 |
| Nov 8. |
Staples Cash (To cash paid to Staples ) |
3500 |
3500 |
| Nov 18. |
Accounts receivable Fees earned (To client work completed ) |
4000 |
4000 |
| Nov 29 . |
Utilities Cash (To utilities paid ) |
1350 |
1350 |
| Nov 30. |
Cash Accounts receivable (To Cash received from customer ) |
2500 |
2500 |
11) Mary Sunny began business as Sunny Law Firm on November 1 and these transactions during...
11) Mary Sunny began business as Sunny Law Firm on Mary invested $15,000 cash and a law library valued at $6,000 i common stock. these transactions during November 2017, the first month of o completed peration: Nov.1 exchange for .Nov. 2 Purchased $7,500 of office (memo required) equipment from Staples on credit. ov. 8 Paid Staples $3,500 cash in partial settlement of the amount owed from November 2nd Nov. 18 Completed $4,000 of legal work for a client on credit....
mum cient for financial services to be rendered next year. 8) Mary Sunny began business as Sunny Law Firm on November 1. Record the following November transactions by making entries directly to the T-accounts provided. Then, prepare a trial balance, as of November 30. a) Mary invested $15,000 cash and a law library valued at $6,000 in exchange for common stock. b) Purchased $7,500 of office equipment from John Bronx on credit. c) Completed legal work for a client and...
11) Larry Matt completed these transactions during December of the current year: Dec. 1 Began a financial services practice by investing $15,000 cash and office equipment with a $5,000 value. 2 Purchased $1,200 of office equipment on credit. 3 Purchased $300 of office supplies on credit. 4 Completed work for a client and immediately received payment of $900 cash. 8 Completed work for Precept Paper Co. on credit, $1,700. 10 Paid for the supplies purchased on credit on December 3....
The following transactions took place at the Cook Employment Agency during November 2019. DATE TRANSACTIONS Nov. 5 Performed services for Job Search, Inc., for $28,000 received $13,000 in cash and the client promised to pay the balance in 60 days 18 Purchased a graphing calculator for $365 and some supplies for $515 from Office Supply; issued Check 1008 for the total. 23 Received Invoice 1602 for $1,500 from Automotive Technicians Repair for repairs to the firm's automobile; issued Check 1009...
5. Larry Matt completed these transactions during December of the current year: Dec. 1 Began a financial services practice by investing $15,000 cash and office equipment with a $5,000 value. 2 Purchased $1,200 of office equipment on credit. 3 Purchased $300 of office supplies on credit. Completed work for a client and immediately received payment of 4 $900 cash. 8 Completed work for Precept Paper Co. on credit, $1,700. 10 Paid for the supplies purchased on credit on December 3....
# need answer as soon as possible. please Dollarama Inc. completed the following transactions during November 2019, its first month of operations: Nov. 1 Received $25,000, and issued common shares. Nov. 5 Purchased $800 of office supplies on account. Nov. 6 Paid $20,000 cash for land to use as a building site. Nov. 10 Performed service for customers, and received cash of $5,000. Nov. 15 Paid $100 on accounts payable. Nov. 18 Performed service for Waterloo School Board on account...
1. Larry Matt, Inc. completed these transactions during December of the current year: Began a financial services practice by investing $15,000 cash and office equipment having a $5,000 value in Dec. 1 exchange for common stock. 2 Purchased $1,200 of office equipment on credit. 3 Purchased $300 of office supplies on credit. 4 Completed work for a client and immediately received a payment of $900 cash. 8 Completed work for Precept Paper Co. on credit, $1,700. 10 Paid cash for...
Q6. Dollarama Inc. completed the following transactions during November 2019, its first month of operations: Nov. 1 Received $25,000, and issued common shares. Nov. 5 Purchased $800 of office supplies on account. Nov. 6 Paid $20,000 cash for land to use as a building site. Nov. 10 Performed service for customers, and received cash of $5,000. Nov. 15 Paid $100 on accounts payable. Nov. 18 Performed service for Waterloo School Board on account totaling $1,500. Nov. 25 Collected $1,000 from...
KFS was formed on November 1, 2014. During the month of November, the following transactions took place: Nov 1. The owner invested $35,000 cash in the company. He also invested equipment that had originally cost the owner $25,000 but the most recent market value estimate was $12,000. 2. Hired one employee to work in the office for a monthly salary of $2,825, 3. Signed a contract for office space. Also, paid the first and last month of the rental centract;...
On November 1, 2018, Kris Lehman established an interior decorating business, Modern Designs. During the month, Kris completed the following transactions related to the business: Nov. 1 Kris transferred cash from a personal bank account to an account to be used for the business in exchange for common stock, $36,000. 1 Paid rent for period of November 1 to end of month, $4,000. 6 Purchased office equipment on account, $16,000. 8 Purchased a truck for $43,000 paying $4,300 cash and...