RR Claro, a public relation man, opened his business on May 1, 2020. Below are the transactions completed by the RC Communication Company during the month of May. May 1 RR Claro invested cash, P80,000 to start the business. 7 Paid taxes and licenses to the City Treasurer, P1,500. 8 Purchased office furniture from Acme Furniture, P15,000 paying P5,000 down, balance in 10 days. 15 Received P25,000 for services rendered from various clients. 19 Billed National Enterprises for services rendered, P28,000. 31 Withdrew 30,000 for personal use

Accounting During the year, Sam went from Cedar City, Utah to Kona, Hawaii to participate in required business meetings. Preceding five days of business meetings from Monday to Friday, he spent four days vacationing at the beach. Excluding the vacation costs (surfing, fishing, luau, etc.) his expenses for the trip are: Round-trip Airfare (first class, baby) $5,000 Lodging for all 9 days ($350 per day) 3,150 Restaurant Meals for all 9 days ($120 per day) 1,080 Business entertainment expenses 2,000 How much are the deductible expenses for temporary business travel away from home? O $5,128 O 57.128 O 57,350 O $9.350 O None of the above.

Dave Shurek started Hindsight Electric in February 2020. Hindsight completed the following transactions during February of the current year: Feb. 1 Began a Hindsight Electric company by investing $7,000 in cash and computer equipment having a $5,000 fair value. Feb. 2 Purchased electrical tools for $1,100 on account. Feb. 4 Completed hot tub electrical work for $1,900 on account. Feb. 8 Completed electrical panel upgrade for $500 cash. Feb. 10 Paid for the items purchased on credit on February 2. Feb. 14 Paid $1,600 for the annual rent. Feb. 18 Received $900 for the work completed on February 4. Feb. 27 D. Shurek withdrew $200 cash from the practice to pay personal expenses. Feb. 28 Paid the February utility bills, $100. Prepare general journal entries to record the transactions. Include a brief description for each entry.

Ann opened an Office Cleaning Service company on January 1, 2020.  During 2020 she had the following transactions.(1)  She started the business with investing $30,000 of her own money (business was organized as corporation)(2)  She borrowed $40,000 from bank by issuing a 5-year note.(3)  She purchased $15,000 of furniture and equipment- paid $5,000 cash and signed a note for the rest.(4)  She purchased a truck for business use at $20,000 in cash.(5)  During the year, provided $85,000 services to customers of which $71,000 was collected, the rest was not yet collected as of Dec. 31st.(6)  During the year, she incurred $58,000 of salaries expense of which $2000 was still not paid as of Dec. 31st.(7)  During the year, she paid $3000 interest on the note to the Bank(8)  During the year, she took $3,000 as dividend.(9)  During the year, she collected $150 interest from bank on company account(10)During the year, purchased $2000 of supplies in cash.(11)During the last week of the year, she…