William Curtis is a personal finance expert and owns Much Money Consulting. This is his first month of operations and William h hired you to do his accounting. The following transactions are for the month of October. a. On October 2, William Curtis invested $32,600 cash into his business. b. On October 4, purchased $925 of office supplies for cash. c. On October 6, purchased $13,600 of office equipment on credit. d. On October 10, received $3,000 cash as revenue for being a guest on the TV show CityTalk. e. On October 12, paid for the office equipment purchased in transaction (c). f. On October 16, billed a customer $5,400 for delivering a corporate workshop on smart investing. g. On October 18, paid October's rent for the downtown office with $3,500 cash. h. On October 26, collected all cash for the account receivable created in transaction (f). i. On October 31, withdrew $5,000 cash from the business for a trip to Hawaii. 1. Not available in Connect. 2. Not available in Connect. 3. Prepare the journal entries for the month of October.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Topic Video
Question
William Curtis is a personal finance expert and owns Much Money Consulting. This is his first month of operations and William h
hired you to do his accounting. The following transactions are for the month of October.
a. On October 2, William Curtis invested $32,600 cash into his business.
b. On October 4, purchased $925 of office supplies for cash.
c. On October 6, purchased $13,600 of office equipment on credit.
d. On October 10, received $3,000 cash as revenue for being a guest on the TV show CityTalk.
e. On October 12, paid for the office equipment purchased in transaction (c).
f. On October 16, billed a customer $5,400 for delivering a corporate workshop on smart investing.
g. On October 18, paid October's rent for the downtown office with $3,500 cash.
h. On October 26, collected all cash for the account receivable created in transaction (f).
i. On October 31, withdrew $5,000 cash from the business for a trip to Hawaii.
1. Not available in Connect.
2. Not available in Connect.
3. Prepare the journal entries for the month of October.
View transaction list
Journal entry worksheet
Transcribed Image Text:William Curtis is a personal finance expert and owns Much Money Consulting. This is his first month of operations and William h hired you to do his accounting. The following transactions are for the month of October. a. On October 2, William Curtis invested $32,600 cash into his business. b. On October 4, purchased $925 of office supplies for cash. c. On October 6, purchased $13,600 of office equipment on credit. d. On October 10, received $3,000 cash as revenue for being a guest on the TV show CityTalk. e. On October 12, paid for the office equipment purchased in transaction (c). f. On October 16, billed a customer $5,400 for delivering a corporate workshop on smart investing. g. On October 18, paid October's rent for the downtown office with $3,500 cash. h. On October 26, collected all cash for the account receivable created in transaction (f). i. On October 31, withdrew $5,000 cash from the business for a trip to Hawaii. 1. Not available in Connect. 2. Not available in Connect. 3. Prepare the journal entries for the month of October. View transaction list Journal entry worksheet
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Accounting Equation
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education