FUND.ACCT.PRIN.
25th Edition
ISBN: 9781260247985
Author: Wild
Publisher: RENT MCG
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Textbook Question
Chapter 1, Problem 1SP
On October 1. 2019, Santana Rev launched a computer services company. Business Solutions, that is organized as a proprietorship and provides consulting services, computer system installations, and custom program development.
Required
Create a table like the one in Exhibit 1.9 using the following headings for columns: Cash;
Oct. 1 S. Rey invested $45,000 cash, a $20,000 computer system, and $8,000 of office equipment in the company.
3 The company purchased $1,430 of computer supplies on credit from Harris Office Products.
6 The company billed Easy Leasing $4,800 for services performed in installing a new web server.
8 The company paid $1,420 cash for the computer supplies purchased from Harris Office Products on October 3.
10 The company hired Lyn Addie as a part-time assistant for $125 per day, as needed.
12 The company billed Easy Leasing another $1,400 for services performed.
15 The company received $4,800 cash from Easy Leasing as partial payment toward its account.
17 The company paid $805 cash to repair computer equipment damaged when moving it.
20 The company paid $1,728 cash for advertisements published in the local newspaper.
22 The company received $1,400 cash from Easy Leasing toward its account.
28 The company billed IFM Company $5,208 for services performed.
31 The company paid $875 cash for Lyn Addie's wages for seven days of work this month.
31 S. Rey withdrew $3,600 cash from the company for personal use.
Check Ending balances: Cash. $42,772; Revenues, 111,408: Expenses, $3,408
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Chapter 1 Solutions
FUND.ACCT.PRIN.
Ch. 1 - Prob. 1QSCh. 1 - Prob. 2QSCh. 1 - Prob. 3QSCh. 1 - Prob. 4QSCh. 1 - Prob. 5QSCh. 1 - Prob. 6QSCh. 1 - This icon highlights assignments that enhance...Ch. 1 - Prob. 8QSCh. 1 - Prob. 9QSCh. 1 - Prob. 10QS
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