The following are the transactions of Shehgarlynn Repair Service. Journalize the following transactions in proper form. The chart of accounts includes: Cash and Bank; Prepaid Rent; Supplies; Repair Equipment; Accounts Payable; Accounts Receivable; Shehla, Capital; Shehla, Withdrawal; Repair Fees Earned; Salaries Expense; Advertising Expense; and Supplies Expense.
January 1, 2013, Shehla invested $15,000 cash and $5,000 of repair equipment in the business. (The cash deposit to Bank of America checking account No.0013447)
January 1, 2013, Paid twelve (12) month's rent in advance, $500 per month. check no. 001
January 5, 2013, Bought repair supplies from Arden Co. on account, amounting of $500. (These supplies have not yet been consumed or used up).
January 10, 2013, Perform repair work, received $750 cash, and had to bill Gary Co. for remaining balance of $250. (cash was deposited to the Bank of America)
January 18, 2013, Shehla paid her home telephone bill, amounting of $120, check no. 002
January 20, 2013, Advertising bill for $500 from Jerry Co. received but payment not due yet. (advertising has already appeared in the newspaper).
January 24, 2013, Paid salary to Shehla as a manager of the company, amounting of $5,000, check no. 003
January 30, 2013, Paid insurance for 1 year in advance, $100 per month. check no. 004.
Prepare the Journal Entry.
No comments:
Post a Comment