Inner Resources Company started its business on April 1, 2019. The following transactions occurred during the month of April and recorded the following entries. A. The owners invested $8,500 from their personal account to the business account B. Paid rent $850 with check #101. C. Initiated a petty cash fund $550 with check #102. D. Received $800 cash for services rendered. E. Purchased office supplies for $180 with check #103. F. Purchased computer equipment $9,000, paid $1,600 with check #104 and will pay the remainder in 30 days. G. Received $1,200 cash for services rendered. H. Paid wages $560, check #105. I. Petty cash reimbursement: Office supplies $250, Maintenance Expense $140, Miscellaneous Expense $65. Cash on Hand $37. Check #106. J. Increased Petty Cash by $100, check #107. A. Cash 8,500 Inner Resources Company, Capital 8,500 В. Rent Expense 850 Cash 850 C. Petty Cash 550 Cash 550 D. Cash 800 Services Income 800 E. Office Supplies 180 Cash 180 F. Computer Equipment 9,000 Cash 1,600 Accounts Payable 7,400 G. Cash 1,200 Services Income 1,200 н. Wages Expense 560 Cash 560 I. Office Supplies 250 Maintenance Expense 140 Miscellaneous Expense 65 Cash Over and Short 58 Cash 513 J. Petty Cash 100 Cash 100

Inner Resources Company started its business on April 1, 2019. The following transactions occurred during the month of April and recorded the following entries. A. The owners invested $8,500 from their personal account to the business account B. Paid rent $850 with check #101. C. Initiated a petty cash fund $550 with check #102. D. Received $800 cash for services rendered. E. Purchased office supplies for $180 with check #103. F. Purchased computer equipment $9,000, paid $1,600 with check #104 and will pay the remainder in 30 days. G. Received $1,200 cash for services rendered. H. Paid wages $560, check #105. I. Petty cash reimbursement: Office supplies $250, Maintenance Expense $140, Miscellaneous Expense $65. Cash on Hand $37. Check #106. J. Increased Petty Cash by $100, check #107. A. Cash 8,500 Inner Resources Company, Capital 8,500 В. Rent Expense 850 Cash 850 C. Petty Cash 550 Cash 550 D. Cash 800 Services Income 800 E. Office Supplies 180 Cash 180 F. Computer Equipment 9,000 Cash 1,600 Accounts Payable 7,400 G. Cash 1,200 Services Income 1,200 н. Wages Expense 560 Cash 560 I. Office Supplies 250 Maintenance Expense 140 Miscellaneous Expense 65 Cash Over and Short 58 Cash 513 J. Petty Cash 100 Cash 100

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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