Practice Journal entry worksheet2 35 6 7 8 .....415Paid rent for office space for two years, $33,000 cash.Note: Enter debits before credits.DateGeneral JournalDebitCreditFeb 01Record entryClear entryVlew general Journal [The following information applies to the questions displayed below.]The following transactions pertain to Smith Training Company for Year 1:Jan. 30 Established the business when it acquired $52,000 cash from the issue of common stock.Feb.1 Paid rent for office space for two years, $33,000 cash.Apr. 10 Purchased $830 of supplies on account.July1 Received $21,500 cash in advance for services to be provided over the next year.20 Paid $623 of the accounts payable from April 10.Aug. 15 Billed a customer $9,400 for services provided during August.Sept.15 Completed a job and received $2,700 cash for services rendered.1 Paid employee salaries of $34,000 cash.15 Received $9,100 cash from accounts receivable.Oct.Nov. 16 Billed customers $31,500 for services rendered on account.1 Paid a dividend of $1,500 cash to the stockholders.31 Adjusted records to recognize the services provided on the contract of July 1.31 Recorded $2,150 of accrued salaries as of December 31.31 Recorded the rent expense for the year. (See February 1.)31 Physically counted supplies; $80 was on hand at the end of the period.Dec.

Journal entries are used for recording financial transactions of the business and for preparing…

Answered: Paid rent for office space for two…

Paid rent for office space for two years, $33,000 cash. Note: Enter debits before credits. Date General Journal Debit Credit Feb 01 Record entry Clear entry View general journal

Quickbooks Online Accounting

3rd Edition

ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter3: Setting Up A New Company

Section: Chapter Questions

Problem 4.6C

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