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On the way to the Sea, a wedding coordination business, began on March 1, 2020. Use the information provided to complete the exercise. A. Records the following transactions in the journal. B. Posts the transfer to the ledger. C. Prepares the test balance Date Transaction March 1 $12,000 cash was invested to start the business. 3 A vehicle was purchased for the business for $13,000 on credit. 3 Decoration materials were purchased for a total of $4,500. Prepaid insurance policy was paid for$1,000 4 effective March 1. 5 A fee earned was performed for the amount of $2,500. 10 A credit was paid to the purchased vehicle of $600. 15 Employees were paid $1,650 salary. 16 A wedding decoration was held on credit for $3,000. 18 A cash decorating was made for $2,800. 20 The customer who was given the march 16 job paid $1,100. 21 it was paid for the gas in the business vehicle $70. 22 Decoration was made for a bachelorette party for $1,000. 25 it was paid for the gas in the business vehicle $30. 28 Paid for advertising expenses $700. 29 A personal retreat was made for $300. 30 Employees were paid $1,650 salary

On the way to the Sea, a wedding coordination business, began on March 1, 2020. Use the information provided to complete the exercise. A. Records the following transactions in the journal. B. Posts the transfer to the ledger. C. Prepares the test balance Date Transaction March 1 $12,000 cash was invested to start the business. 3 A vehicle was purchased for the business for $13,000 on credit. 3 Decoration materials were purchased for a total of $4,500. Prepaid insurance policy was paid for$1,000 4 effective March 1. 5 A fee earned was performed for the amount of $2,500. 10 A credit was paid to the purchased vehicle of $600. 15 Employees were paid $1,650 salary. 16 A wedding decoration was held on credit for $3,000. 18 A cash decorating was made for $2,800. 20 The customer who was given the march 16 job paid $1,100. 21 it was paid for the gas in the business vehicle $70. 22 Decoration was made for a bachelorette party for $1,000. 25 it was paid for the gas in the business vehicle $30. 28 Paid for advertising expenses $700. 29 A personal retreat was made for $300. 30 Employees were paid $1,650 salary

FINANCIAL ACCOUNTING
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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Exercise 3 On the way to the Sea, a wedding coordination business, began on March 1, 2020. Use the information provided to complete the exercise. A. Records the following transactions in the journal. B. Posts the transfer to the ledger. C. Prepares the test balance Date Transaction March 1 $12,000 cash was invested to start the business. 3 A vehicle was purchased for the business for $13,000 on credit. 3 Decoration materials were purchased for a total of $4,500. Prepaid insurance policy was paid for$1,000 4 effective March 1. 5 A fee earned was performed for the amount of $2,500. 10 A credit was paid to the purchased vehicle of $600. 15 Employees were paid $1,650 salary. 16 A wedding decoration was held on credit for $3,000. 18 A cash decorating was made for $2,800. 20 The customer who was given the march 16 job paid $1,100. 21 it was paid for the gas in the business vehicle $70. 22 Decoration was made for a bachelorette party for $1,000. 25 it was paid for the gas in the business vehicle $30. 28 Paid for advertising expenses $700. 29 A personal retreat was made for $300. 30 Employees were paid $1,650 salary
Transcribed Image Text:Exercise 3 On the way to the Sea, a wedding coordination business, began on March 1, 2020. Use the information provided to complete the exercise. A. Records the following transactions in the journal. B. Posts the transfer to the ledger. C. Prepares the test balance Date Transaction March 1 $12,000 cash was invested to start the business. 3 A vehicle was purchased for the business for $13,000 on credit. 3 Decoration materials were purchased for a total of $4,500. Prepaid insurance policy was paid for$1,000 4 effective March 1. 5 A fee earned was performed for the amount of $2,500. 10 A credit was paid to the purchased vehicle of $600. 15 Employees were paid $1,650 salary. 16 A wedding decoration was held on credit for $3,000. 18 A cash decorating was made for $2,800. 20 The customer who was given the march 16 job paid $1,100. 21 it was paid for the gas in the business vehicle $70. 22 Decoration was made for a bachelorette party for $1,000. 25 it was paid for the gas in the business vehicle $30. 28 Paid for advertising expenses $700. 29 A personal retreat was made for $300. 30 Employees were paid $1,650 salary
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