Jan. 30 Established the business when it acquired $46,000 cash from the issue of common stock. Feb. Apr. 10 Purchased $800 of supplies on account. 1 Paid rent for office space for two years, $27,000 cash. July 1 Received $27,000 cash in advance for services to be provided over the next year. 20 Paid $600 of the accounts payable from April 10. Aug. 15 Billed a customer $9,000 for services provided during August. Sept. 15 Completed a job and received $3,400 cash for services rendered. Oct. 1 Paid employee salaries of $32,000 cash. 15 Received $9,000 cash from accounts receivable. Nov. 16 Billed customers $36,500 for services rendered on account.

Jan. 30 Established the business when it acquired $46,000 cash from the issue of common stock. Feb. Apr. 10 Purchased $800 of supplies on account. 1 Paid rent for office space for two years, $27,000 cash. July 1 Received $27,000 cash in advance for services to be provided over the next year. 20 Paid $600 of the accounts payable from April 10. Aug. 15 Billed a customer $9,000 for services provided during August. Sept. 15 Completed a job and received $3,400 cash for services rendered. Oct. 1 Paid employee salaries of $32,000 cash. 15 Received $9,000 cash from accounts receivable. Nov. 16 Billed customers $36,500 for services rendered on account.

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter3: Processing Accounting Information

Section: Chapter Questions

Problem 3.15MCE: Journal Entries Following is a list of transactions entered into during the first month of...

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