Debra Crusher is a licensed CPA. During the first month of operations of her business (a sole proprietorship), the following events and transactions occurred. April 2 Invested $28,380 cash and equipment valued at $14,150 in the business. 2 Hired an administrative assistant at a salary of $301 per week payable monthly. 3 Purchased supplies on account $588. (Debit an asset account.) 7 Paid office rent of $706 for the month. 11 Completed a tax assignment and billed client $1,065 for services rendered. (Use Service Revenue account.) 12 Received $3,474 advance on a management consulting engagement. 17 Received cash of $2,365 for services completed for Ferengi Co. 21 Paid insurance expense $99. 30 Paid administrative assistant $1,204 for the month. 30 A count of supplies indicated that $101 of supplies had been used. 30 Purchased a new computer for $5,283 with personal funds. (The computer will be used exclusively for business purposes.) Journalize the transactions in the general journal. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem.)
Debra Crusher is a licensed CPA. During the first month of operations of her business (a sole proprietorship), the following events and transactions occurred. April 2 Invested $28,380 cash and equipment valued at $14,150 in the business. 2 Hired an administrative assistant at a salary of $301 per week payable monthly. 3 Purchased supplies on account $588. (Debit an asset account.) 7 Paid office rent of $706 for the month. 11 Completed a tax assignment and billed client $1,065 for services rendered. (Use Service Revenue account.) 12 Received $3,474 advance on a management consulting engagement. 17 Received cash of $2,365 for services completed for Ferengi Co. 21 Paid insurance expense $99. 30 Paid administrative assistant $1,204 for the month. 30 A count of supplies indicated that $101 of supplies had been used. 30 Purchased a new computer for $5,283 with personal funds. (The computer will be used exclusively for business purposes.) Journalize the transactions in the general journal. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem.)
Excel Applications for Accounting Principles
4th Edition
ISBN:9781111581565
Author:Gaylord N. Smith
Publisher:Gaylord N. Smith
Chapter1: Business Transactions (ptrans)
Section: Chapter Questions
Problem 3R: On June 1 of the current year, Wilson Wood opened Woodys Web Services. This sole proprietorship had...
Related questions
Topic Video
Question
Current Attempt in Progress
Debra Crusher is a licensed CPA. During the first month of operations of her business (a sole proprietorship), the following events and transactions occurred.
Journalize the transactions in the general journal. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Recordjournal entries in the order presented in the problem.)
April 2 | Invested $28,380 cash and equipment valued at $14,150 in the business. | |
2 | Hired an administrative assistant at a salary of $301 per week payable monthly. | |
3 | Purchased supplies on account $588. (Debit an asset account.) | |
7 | Paid office rent of $706 for the month. | |
11 | Completed a tax assignment and billed client $1,065 for services rendered. (Use Service Revenue account.) | |
12 | Received $3,474 advance on a management consulting engagement. | |
17 | Received cash of $2,365 for services completed for Ferengi Co. | |
21 | Paid insurance expense $99. | |
30 | Paid administrative assistant $1,204 for the month. | |
30 | A count of supplies indicated that $101 of supplies had been used. | |
30 | Purchased a new computer for $5,283 with personal funds. (The computer will be used exclusively for business purposes.) |
Journalize the transactions in the general journal. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Record
Date
|
Account Titles and Explanation
|
Debit
|
Credit
|
|
---|---|---|---|---|
|
enter an account title
|
enter a debit amount
|
enter a credit amount
|
|
enter an account title
|
enter a debit amount
|
enter a credit amount
|
||
enter an account title
|
enter a debit amount
|
enter a credit amount
|
||
|
enter an account title
|
enter a debit amount
|
enter a credit amount
|
|
enter an account title
|
enter a debit amount
|
enter a credit amount
|
||
choose a transaction date Apr. 2Apr. 3Apr. 7Apr. 11Apr. 12Apr. 17Apr. 21Apr. 30
|
enter an account title
|
enter a debit amount
|
enter a credit amount
|
|
enter an account title
|
enter a debit amount
|
enter a credit amount
|
||
choose a transaction date Apr. 2Apr. 3Apr. 7Apr. 11Apr. 12Apr. 17Apr. 21Apr. 30
|
enter an account title
|
enter a debit amount
|
enter a credit amount
|
|
enter an account title
|
enter a debit amount
|
enter a credit amount
|
||
choose a transaction date Apr. 2Apr. 3Apr. 7Apr. 11Apr. 12Apr. 17Apr. 21Apr. 30
|
enter an account title
|
enter a debit amount
|
enter a credit amount
|
|
enter an account title
|
enter a debit amount
|
enter a credit amount
|
||
choose a transaction date Apr. 2Apr. 3Apr. 7Apr. 11Apr. 12Apr. 17Apr. 21Apr. 30
|
enter an account title
|
enter a debit amount
|
enter a credit amount
|
|
enter an account title
|
enter a debit amount
|
enter a credit amount
|
||
choose a transaction date Apr. 2Apr. 3Apr. 7Apr. 11Apr. 12Apr. 17Apr. 21Apr. 30
|
enter an account title
|
enter a debit amount
|
enter a credit amount
|
|
enter an account title
|
enter a debit amount
|
enter a credit amount
|
||
choose a transaction date Apr. 2Apr. 3Apr. 7Apr. 11Apr. 12Apr. 17Apr. 21Apr. 30
|
enter an account title
|
enter a debit amount
|
enter a credit amount
|
|
enter an account title
|
enter a debit amount
|
enter a credit amount
|
||
choose a transaction date Apr. 2Apr. 3Apr. 7Apr. 11Apr. 12Apr. 17Apr. 21Apr. 30
|
enter an account title
|
enter a debit amount
|
enter a credit amount
|
|
enter an account title
|
enter a debit amount
|
enter a credit amount
|
||
choose a transaction date Apr. 2Apr. 3Apr. 7Apr. 11Apr. 12Apr. 17Apr. 21Apr. 30
|
enter an account title
|
enter a debit amount
|
enter a credit amount
|
|
enter an account title
|
enter a debit amount
|
enter a credit amount
|
||
choose a transaction date Apr. 2Apr. 3Apr. 7Apr. 11Apr. 12Apr. 17Apr. 21Apr. 30
|
enter an account title
|
enter a debit amount
|
enter a credit amount
|
|
enter an account title
|
enter a debit amount
|
enter a credit amount
|
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Knowledge Booster
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.Recommended textbooks for you
Excel Applications for Accounting Principles
Accounting
ISBN:
9781111581565
Author:
Gaylord N. Smith
Publisher:
Cengage Learning
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781305084087
Author:
Cathy J. Scott
Publisher:
Cengage Learning
Excel Applications for Accounting Principles
Accounting
ISBN:
9781111581565
Author:
Gaylord N. Smith
Publisher:
Cengage Learning
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781305084087
Author:
Cathy J. Scott
Publisher:
Cengage Learning
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781337280570
Author:
Scott, Cathy J.
Publisher:
South-Western College Pub
Financial And Managerial Accounting
Accounting
ISBN:
9781337902663
Author:
WARREN, Carl S.
Publisher:
Cengage Learning,
Financial Accounting: The Impact on Decision Make…
Accounting
ISBN:
9781305654174
Author:
Gary A. Porter, Curtis L. Norton
Publisher:
Cengage Learning