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On July 1, 2019, Pat Glenn established Half Moon Realty. Pat completed the following transactions during the month of July. A. Opened a business  bank account with a deposit of $28,000 from personal funds. B. Paid rent on office and equipment for the month, $3,600. C. Paid automobile expenses (including rental charge) for the month, $1,300, and miscellaneous expenses, $700. D. Purchased office supplies on account, $1,250. E. Earned sales commissions, receiving cash, $18,400. F. Paid creditor on account, $750. G. Paid office salaries, $3,000. H. Withdrew cash for personal use, $3,300. I. Determined that the cost of supplies on hand was $500; therefore, the cost of supplies used was $750.

On July 1, 2019, Pat Glenn established Half Moon Realty. Pat completed the following transactions during the month of July. A. Opened a business  bank account with a deposit of $28,000 from personal funds. B. Paid rent on office and equipment for the month, $3,600. C. Paid automobile expenses (including rental charge) for the month, $1,300, and miscellaneous expenses, $700. D. Purchased office supplies on account, $1,250. E. Earned sales commissions, receiving cash, $18,400. F. Paid creditor on account, $750. G. Paid office salaries, $3,000. H. Withdrew cash for personal use, $3,300. I. Determined that the cost of supplies on hand was $500; therefore, the cost of supplies used was $750.

Excel Applications for Accounting Principles
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 4R: On June 1 of the current year, Wilson Wood opened Woodys Web Services. This sole proprietorship had...
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On July 1, 2019, Pat Glenn established Half Moon Realty. Pat completed the following transactions during the month of July.
A. Opened a business  bank account with a deposit of $28,000 from personal funds.
B. Paid rent on office and equipment for the month, $3,600.
C. Paid automobile expenses (including rental charge) for the month, $1,300, and miscellaneous expenses, $700.
D. Purchased office supplies on account, $1,250.
E. Earned sales commissions, receiving cash, $18,400.
F. Paid creditor on account, $750.
G. Paid office salaries, $3,000.
H. Withdrew cash for personal use, $3,300.
I. Determined that the cost of supplies on hand was $500; therefore, the cost of supplies used was $750.
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