Diane Bernick has opened Bernick's Consulting. Journalize the following transactions that occurred during January of the current year. Use the following chart of accounts:Chart of AccountsAssets Revenues101Cash 401Consulting Fees142Office Supplies 181Office Equipment Expenses 511Wages ExpenseLiabilities 521Rent Expense202Accounts Payable 525Phone Expense 533Utilities ExpenseOwner’s Equity 549Miscellaneous Expense311Diane Bernick, Capital 312Diane Bernick, Drawing Jan. 1Bernick invested cash in the business, $12,000.2Paid office rent, $750.3Purchased office equipment on account, $1,300.5Received cash for services rendered, $950.8Paid phone bill, $85.10Paid for a magazine subscription (miscellaneous expense), $20.11Purchased office supplies on account, $250.15Made a payment on account (see Jan. 3 transaction), $200.18Paid part-time employee, $600.21Received cash for services rendered, $800.25Paid utilities bill, $105.27Bernick withdrew cash for personal use, $400.29Paid part-time employee, $600.

Name: Diane Bernick has opened Bernick's Consulting. Journalize the followin
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Description: Diane Bernick has opened Bernick's Consulting. Journalize the following transactions that occurred during January of the current year. Use the following chart of accounts:Chart of AccountsAssets Revenues101Cash 401Consulting Fees142Office Supplies

Journal entries are the basis of the preparation of all the financial statements. Journal entries…

Answered: Diane Bernick has opened Bernick's…

College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)

22nd Edition

ISBN:9781305666160

Author:James A. Heintz, Robert W. Parry

Publisher:James A. Heintz, Robert W. Parry

Chapter15: Financial Statements And Year-end Accounting For A Merchandising Business

Section: Chapter Questions

Problem 9SPB: FINANCIAL RATIOS Use the work sheet and financial statements prepared in Problem 15-8B. All sales...

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Diane Bernick has opened Bernick's Consulting. Journalize the following transactions that occurred during January of the current year. Use the following chart of accounts:

Chart of Accounts
Assets		Revenues
101	Cash		401	Consulting Fees
142	Office Supplies
181	Office Equipment		Expenses
			511	Wages Expense
Liabilities		521	Rent Expense
202	Accounts Payable		525	Phone Expense
			533	Utilities Expense
Owner’s Equity		549	Miscellaneous Expense
311	Diane Bernick, Capital
312	Diane Bernick, Drawing

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.
18	Paid part-time employee, $600.
21	Received cash for services rendered, $800.
25	Paid utilities bill, $105.
27	Bernick withdrew cash for personal use, $400.
29	Paid part-time employee, $600.

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