Q3. On January 1, 2019, Sharon Matthews established Tri-City Realty, which completed the following transactions during the month: (a) Sharon Matthews tranıferred cash from a personal bank account to an account to be used for the business, $40,000. (b) Paid rent on office and equipment for the month, $6,000. (c) Purchased supplies on account, $3,200. (d) Paid creditor on account, $1,750. (e) Earned fees, receiving cash, $18,250. () Paid automobile expenses (including rental charge) for month, $1,88o, and miscellaneous expenses, $420. () Paid office salaries, $5,000. (h) Determined that the cost of supplies used was $1,400. () Withdrew cash for personal use, $2,000. Instructions. 1. Journalize entries for transactions (a) through (D, using the following account titles: Cash;

Q3. On January 1, 2019, Sharon Matthews established Tri-City Realty, which completed the following transactions during the month: (a) Sharon Matthews tranıferred cash from a personal bank account to an account to be used for the business, $40,000. (b) Paid rent on office and equipment for the month, $6,000. (c) Purchased supplies on account, $3,200. (d) Paid creditor on account, $1,750. (e) Earned fees, receiving cash, $18,250. () Paid automobile expenses (including rental charge) for month, $1,88o, and miscellaneous expenses, $420. () Paid office salaries, $5,000. (h) Determined that the cost of supplies used was $1,400. () Withdrew cash for personal use, $2,000. Instructions. 1. Journalize entries for transactions (a) through (D, using the following account titles: Cash;

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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