Given the following transactions for Dumfries Company during the month of October2021. 1. Shareholders invested $200,000 cash in exchange for ordinary shares. 2. Performed services for $30,000 on account. 3. Purchased supplies for $4,000 on account. 4. Paid salaries of $7,800. 5. Received $20,000 cash advance from a customer for services to be performed in November2021. 6. Paid $1,000 cash on account for supplies purchased in transaction 3. Required: Journalize the above business transactions in general journa form.
Given the following transactions for Dumfries Company during the month of October2021. 1. Shareholders invested $200,000 cash in exchange for ordinary shares. 2. Performed services for $30,000 on account. 3. Purchased supplies for $4,000 on account. 4. Paid salaries of $7,800. 5. Received $20,000 cash advance from a customer for services to be performed in November2021. 6. Paid $1,000 cash on account for supplies purchased in transaction 3. Required: Journalize the above business transactions in general journa form.
Chapter3: Analyzing And Recording Transactions
Section: Chapter Questions
Problem 19EB: A business has the following transactions: A. The business is started by receiving cash from an...
Related questions
Question
100%
in need the answer in the general journal box??
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
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
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
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
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
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
Survey of Accounting (Accounting I)
Accounting
ISBN:
9781305961883
Author:
Carl Warren
Publisher:
Cengage Learning