On June 1 of the current year, Wilson Wood opened Woodyʼs Web Services. This sole proprietorship had the following transactions during June. a. Opened a business checking account and made a deposit, $9,000. b. Paid rent for June for office space and computer equipment, $3,000. c. Purchased office supplies (stamps, pens, etc.) on account, $1,980. d. Received cash for services rendered, $4,500. e. Paid creditor for office supplies purchased on account, $1,400. f. Purchased office supplies for cash, $420. g. Billed clients for consultations performed on account, $4,600. h. Paid monthly internet service bill of $360. i. Paid the secretaryʼs salary of $2,400. j. Returned $300 of office supplies purchased in transaction f. Received a full refund. k. Received cash from clients previously billed, $3,000. l. Cash was withdrawn for ownerʼs personal use, $2,000. REQUIREMENT 1. Review the printout of the worksheet PTRANS. You have been asked to complete the worksheet by recording these transactions.

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Answer 1

Textbook Question

Chapter 1, Problem 1R

On June 1 of the current year, Wilson Wood opened Woodyʼs Web Services. This sole proprietorship had the following transactions during June.

a. Opened a business checking account and made a deposit, $9,000.
b. Paid rent for June for office space and computer equipment, $3,000.
c. Purchased office supplies (stamps, pens, etc.) on account, $1,980.
d. Received cash for services rendered, $4,500.
e. Paid creditor for office supplies purchased on account, $1,400.
f. Purchased office supplies for cash, $420.
g. Billed clients for consultations performed on account, $4,600.
h. Paid monthly internet service bill of $360.
i. Paid the secretaryʼs salary of $2,400.
j. Returned $300 of office supplies purchased in transaction f. Received a full refund.
k. Received cash from clients previously billed, $3,000.
l. Cash was withdrawn for ownerʼs personal use, $2,000.

REQUIREMENT

1. Review the printout of the worksheet PTRANS. You have been asked to complete the worksheet by recording these transactions.

Expert Solution & Answer

To determine

Show the printout of worksheet of PTRANS.

Explanation of Solution

Excel Applications for Accounting Principles, Chapter 1, Problem 1R

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Answer 2

Textbook Question

Chapter 1, Problem 1R

On June 1 of the current year, Wilson Wood opened Woodyʼs Web Services. This sole proprietorship had the following transactions during June.

a. Opened a business checking account and made a deposit, $9,000.
b. Paid rent for June for office space and computer equipment, $3,000.
c. Purchased office supplies (stamps, pens, etc.) on account, $1,980.
d. Received cash for services rendered, $4,500.
e. Paid creditor for office supplies purchased on account, $1,400.
f. Purchased office supplies for cash, $420.
g. Billed clients for consultations performed on account, $4,600.
h. Paid monthly internet service bill of $360.
i. Paid the secretaryʼs salary of $2,400.
j. Returned $300 of office supplies purchased in transaction f. Received a full refund.
k. Received cash from clients previously billed, $3,000.
l. Cash was withdrawn for ownerʼs personal use, $2,000.

REQUIREMENT

1. Review the printout of the worksheet PTRANS. You have been asked to complete the worksheet by recording these transactions.

Expert Solution & Answer

To determine

Show the printout of worksheet of PTRANS.

Explanation of Solution

Excel Applications for Accounting Principles, Chapter 1, Problem 1R

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Answer 3

Textbook Question

Chapter 1, Problem 1R

On June 1 of the current year, Wilson Wood opened Woodyʼs Web Services. This sole proprietorship had the following transactions during June.

a. Opened a business checking account and made a deposit, $9,000.
b. Paid rent for June for office space and computer equipment, $3,000.
c. Purchased office supplies (stamps, pens, etc.) on account, $1,980.
d. Received cash for services rendered, $4,500.
e. Paid creditor for office supplies purchased on account, $1,400.
f. Purchased office supplies for cash, $420.
g. Billed clients for consultations performed on account, $4,600.
h. Paid monthly internet service bill of $360.
i. Paid the secretaryʼs salary of $2,400.
j. Returned $300 of office supplies purchased in transaction f. Received a full refund.
k. Received cash from clients previously billed, $3,000.
l. Cash was withdrawn for ownerʼs personal use, $2,000.

REQUIREMENT

1. Review the printout of the worksheet PTRANS. You have been asked to complete the worksheet by recording these transactions.

Expert Solution & Answer

To determine

Show the printout of worksheet of PTRANS.

Explanation of Solution

Excel Applications for Accounting Principles, Chapter 1, Problem 1R

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Answer 4

Textbook Question

Chapter 1, Problem 1R

On June 1 of the current year, Wilson Wood opened Woodyʼs Web Services. This sole proprietorship had the following transactions during June.

a. Opened a business checking account and made a deposit, $9,000.
b. Paid rent for June for office space and computer equipment, $3,000.
c. Purchased office supplies (stamps, pens, etc.) on account, $1,980.
d. Received cash for services rendered, $4,500.
e. Paid creditor for office supplies purchased on account, $1,400.
f. Purchased office supplies for cash, $420.
g. Billed clients for consultations performed on account, $4,600.
h. Paid monthly internet service bill of $360.
i. Paid the secretaryʼs salary of $2,400.
j. Returned $300 of office supplies purchased in transaction f. Received a full refund.
k. Received cash from clients previously billed, $3,000.
l. Cash was withdrawn for ownerʼs personal use, $2,000.

REQUIREMENT

1. Review the printout of the worksheet PTRANS. You have been asked to complete the worksheet by recording these transactions.

Expert Solution & Answer

To determine

Show the printout of worksheet of PTRANS.

Explanation of Solution

Excel Applications for Accounting Principles, Chapter 1, Problem 1R

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Answer 5

Textbook Question

Answer 6

Textbook Question

Answer 7

Expert Solution & Answer

To determine

Show the printout of worksheet of PTRANS.

Explanation of Solution

Excel Applications for Accounting Principles, Chapter 1, Problem 1R

Answer 8

Expert Solution & Answer

To determine

Show the printout of worksheet of PTRANS.

Explanation of Solution

Excel Applications for Accounting Principles, Chapter 1, Problem 1R

Answer 9

Expert Solution & Answer

Answer 10

Expert Solution & Answer

Answer 11

To determine

Show the printout of worksheet of PTRANS.

Answer 12

Explanation of Solution

Excel Applications for Accounting Principles, Chapter 1, Problem 1R

Answer 13

Ch. 1 - On June 1 of the current year, Wilson Wood opened...Ch. 1 - On June 1 of the current year, Wilson Wood opened...Ch. 1 - On June 1 of the current year, Wilson Wood opened...Ch. 1 - On June 1 of the current year, Wilson Wood opened...Ch. 1 - On June 1 of the current year, Wilson Wood opened...Ch. 1 - On June 1 of the current year, Wilson Wood opened...Ch. 1 - Prob. 7R

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