Question

Revenues Assets 401 101 Cash Consulting Fees 142 Office Supplies 181 Expenses Office Equipment 511 Wages Expense 521 Rent Expense Liabilities 525 202 Accounts Payable Phone Expense 533 Utilities Expense 549 Owner's Equity Miscellaneous Expense 311 Diane Bernick, Capital Diane Bernick, Drawing 312 < Jan. 1 Bernick invested cash in the business, $12,000. 2 Paid office rent, $750. 3 Purchased office equipment on account, $1,300. 5 Received cash for services rendered, $950. 8 Paid phone bill, $85. 10 Paid for a magazine subscription (miscellaneous expense), $20. 11 Purchased office supplies on account, $250. 15 Made a payment on account (see Jan. 3 transaction), $200. Check My Work 19 g 6

Answer 1

Date	Particulars	Debit	Credit
Jan 1	Cash ac Dr Capital ac (Captal introduced)	12000	12000
2	Office rent ac Dr Cash (Paid office rent)	750	750
3	Equipment ac Dr Account payble (equipment purchased on credit)	1300	1300
5	Cash ac Dr Consultation fees (consultation fees received)	950	950
8	Phone bill ac Dr Cash (phone bill paid)	85	85
10	Miscellaneous expense ac Dr Cash ( Magazine subscription fees paid)	20	20
11	Office supplies ac Dr Account payble (Office supplies purchased on credit)	250	250
15	Account payble ac Dr Cash (Cash paid to creditiors for equipment purchased earlier)	200	200
18	Wages ac Dr Cash (paid salaries)	600	600
21	Cash ac Dr Consultation fees (Consultation fees received)	800	800
25	Utlities expense ac Dr Cash (utilities paid)	105	105
27	Drawings ac Dr Cash (cash withdrawn for personal use)	400	400
29	Wages ac Dr Cash (Paid salaries)	600	600