The following selected transactions were completed during February of the current year Owner contributed $25,000 to business and received capital Billed customers for fees earned, $41,730 Purchased supplies on account, $1,800 Received cash from customers on account, $39,150 Paid Creditors on account, $1,100 Owner withdrew $12,000 for personal use Paid $500 for this month Rent Received a bill for utilities for $100. To be paid next month Paid Salary to employees $3,000 Purchase Equipment for Cash $5,000 Received Cash $2,500 for services performed a) Journalize the above transactions in a two-column Journal below. Using the appropriate number to identify the transactions. Journal entry explanations may be omitted. Use the following accounts Cash Accounts Receivable Supplies Equipment Accounts Payable Owner Capital Owner withdrawal Service Revenue Rent expense Salary Expenses Utilities expenses
The following selected transactions were completed during February of the current year Owner contributed $25,000 to business and received capital Billed customers for fees earned, $41,730 Purchased supplies on account, $1,800 Received cash from customers on account, $39,150 Paid Creditors on account, $1,100 Owner withdrew $12,000 for personal use Paid $500 for this month Rent Received a bill for utilities for $100. To be paid next month Paid Salary to employees $3,000 Purchase Equipment for Cash $5,000 Received Cash $2,500 for services performed a) Journalize the above transactions in a two-column Journal below. Using the appropriate number to identify the transactions.
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images
