Required: 2 Record the journal entrles for the month of July
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Assignment 2- Ch 2 A
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Manny Gill is an entrepreneur who started West Secure, a business that provides a number of security guard services. West Secure
incurred the following transactions during July 2020, its first month of operations:
July 1 The owncr, Hanny Gill, invested $4,900 cash.
10 Purchased $2,400 worth of security equipment on credit.
12 Performed security services for a sold-out concert and received $12,000 cash from the
client.
14 Paid for expenses; $3,400.
15 Completed security services fora graduation event and sent the client a bill for
$1,150.
31 The owncer withdrew $240 Cash for personal use.
40
points
Print
Required:
2 Record the journal entries for the month of July
View transaciion list
Journal entry worksheet
3
4.
6
Record the investment by owner
Note: Enter debits before credits.
Date
General Jourmal
Debit
Credit
July 01. 2020
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Hill
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Transcribed Image Text:come to your first day of cle
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O Question 1- Assignment 2- Ch
O Shared video - CH01 - Dynami
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Assignment 2- Ch 2 A
Saved
1
Manny Gill is an entrepreneur who started West Secure, a business that provides a number of security guard services. West Secure
incurred the following transactions during July 2020, its first month of operations:
July 1 The owncr, Hanny Gill, invested $4,900 cash.
10 Purchased $2,400 worth of security equipment on credit.
12 Performed security services for a sold-out concert and received $12,000 cash from the
client.
14 Paid for expenses; $3,400.
15 Completed security services fora graduation event and sent the client a bill for
$1,150.
31 The owncer withdrew $240 Cash for personal use.
40
points
Print
Required:
2 Record the journal entries for the month of July
View transaciion list
Journal entry worksheet
3
4.
6
Record the investment by owner
Note: Enter debits before credits.
Date
General Jourmal
Debit
Credit
July 01. 2020
Mc
Graw
Hill
Prev
1 of 4
Next >
ADMN 1016 Assidocr
ADMN 1016 Assi.dog
I ADMN 1016 Assi.docx
ADMN 1016 Assi.docx
ADMN 1016 Ass.docx
60 O no m
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Elizabeth Wong has strong problem-solving skills and loves to work with people. After becoming a Certified Human Resources
Professional (CHRP) and working for several companies, she opened her own business, HR Solutions. She completed the following
transactions during May 2020:
May 1 Invested $77,0ee in cash and office equipment that had a fair value of $50,000 in the
business.
1 Prepaid $15,000 cash for three months' rent for an office.
2 Made credit purchases of office equipment for $25,000 and office supplies for $5,000.
6 Completed a report on hiring solutions for a client and collected $8, 200 cash.
9 Completed a $16,200 project implementing a training program for a client, who will pay
within 30 days.
10 Paid half of the account payable created on May 2.
19 Paid $7,700 cash for the annual premium on an insurance policy.
22 Received $13,000 as partial payment for the work completed on May 9.
25 Developed a performance review process for another client for $5,480 on credit.
25 Paid wages for May totalling $35,000.
31 withdrew $5,200 cash from the business to take a trip to Paris in June.
31 Purchased $1,700 of additional1 office supplies on credit.
31 Paid $1,420 for the
40
polnts
Print
utility bill.
Required:
1. Prepare journal entries to record the transactions.
View transaction list
Journal entry worksheet
13
<>
6 7
8 .....
3
4 5
1
Record the investment of $77,000 in cash and office equipment that had a fair
value of $50,000 in the business.
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3 of 4
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Graw
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N 1016 Assi..docx
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Transcribed Image Text:come to your first day of cl
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Elizabeth Wong has strong problem-solving skills and loves to work with people. After becoming a Certified Human Resources
Professional (CHRP) and working for several companies, she opened her own business, HR Solutions. She completed the following
transactions during May 2020:
May 1 Invested $77,0ee in cash and office equipment that had a fair value of $50,000 in the
business.
1 Prepaid $15,000 cash for three months' rent for an office.
2 Made credit purchases of office equipment for $25,000 and office supplies for $5,000.
6 Completed a report on hiring solutions for a client and collected $8, 200 cash.
9 Completed a $16,200 project implementing a training program for a client, who will pay
within 30 days.
10 Paid half of the account payable created on May 2.
19 Paid $7,700 cash for the annual premium on an insurance policy.
22 Received $13,000 as partial payment for the work completed on May 9.
25 Developed a performance review process for another client for $5,480 on credit.
25 Paid wages for May totalling $35,000.
31 withdrew $5,200 cash from the business to take a trip to Paris in June.
31 Purchased $1,700 of additional1 office supplies on credit.
31 Paid $1,420 for the
40
polnts
Print
utility bill.
Required:
1. Prepare journal entries to record the transactions.
View transaction list
Journal entry worksheet
13
<>
6 7
8 .....
3
4 5
1
Record the investment of $77,000 in cash and office equipment that had a fair
value of $50,000 in the business.
< Prev
3 of 4
Next >
Mc
Graw
Hill
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I ADMN 1016 Assi.dooI
ADMN 1016 Assi.docx
ADMN 1016 Assi.docx
N 1016 Assi..docx
3.
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