(Transaction Analysis—Service Company) Beverly Crusher is a licensed CPA. During the first month of operations of her business (a sole proprietorship), the following events and transactions occurred.April 2 Invested $32,000 cash and equipment valued at $14,000 in the business.April 2 Hired an administrative assistant at a salary of $290 per week payable monthly.April 3 Purchased supplies on account $700. (Debit an asset account.)April 7 Paid office rent of $600 for the month.April 11 Completed a tax assignment and billed client $1,100 for services rendered. (Use Service Revenue account.)April 12 Received $3,200 advance on a management consulting engagement.April 17 Received cash of $2,300 for services completed for Ferengi Co.April 21 Paid insurance expense $110.April 30 Paid administrative assistant $1,160 for the month.April 30 A count of supplies indicated that $120 of supplies had been used.April 30 Purchased a new computer for $6,100 with personal funds. (The computer will be used exclusively for business purposes.) InstructionsJournalize the transactions in the general journal. (Omit explanations.)
(Transaction Analysis—Service Company) Beverly Crusher is a licensed CPA. During the first month of operations of her business (a sole proprietorship), the following events and transactions occurred.
April 2 Invested $32,000 cash and equipment valued at $14,000 in the business.
April 2 Hired an administrative assistant at a salary of $290 per week payable monthly.
April 3 Purchased supplies on account $700. (Debit an asset account.)
April 7 Paid office rent of $600 for the month.
April 11 Completed a tax assignment and billed client $1,100 for services rendered. (Use Service Revenue account.)
April 12 Received $3,200 advance on a management consulting engagement.
April 17 Received cash of $2,300 for services completed for Ferengi Co.
April 21 Paid insurance expense $110.
April 30 Paid administrative assistant $1,160 for the month.
April 30 A count of supplies indicated that $120 of supplies had been used.
April 30 Purchased a new computer for $6,100 with personal funds. (The computer will be used exclusively for business purposes.)
Instructions
Journalize the transactions in the general journal. (Omit explanations.)
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