Use the following information to answer Exercises E2- The following transactions occurred for Wilke Technology Solutions: May 1 The business received cash of $105,000 and gave capital to Zoe Wilke. Purchased office supplies on account, $550. Paid $57,000 cash for building and land. The building had a fair market value of $45,000. 4. 6. Performed services for customers and received cash, $3,600. Paid $350 on accounts payable. 17 Performed services for customers on account, $3,500. 19 Paid rent expense for the month, $1,200. Received $1,500 from customers for services to be performed next month. 20 21 Paid $900 for advertising in next month's IT Technology magazine. 23 Received $3,100 cash on account from a customer. 31 Incurred and paid salaries, $1,700. E2-18 Analyzing and journalizing transactions Journalize the transactions of Willke Technology Solutions. Include an explanation with each journal entry. Use the following accounts: Cash; Accounts Receivable; Office Supplies; Prepaid Advertising; Land; Building; Accounts Payable; Unearned Revenue; Wilke, Capital; Service Revenue; Rent Expense; and Salaries Expense.
Use the following information to answer Exercises E2- The following transactions occurred for Wilke Technology Solutions: May 1 The business received cash of $105,000 and gave capital to Zoe Wilke. Purchased office supplies on account, $550. Paid $57,000 cash for building and land. The building had a fair market value of $45,000. 4. 6. Performed services for customers and received cash, $3,600. Paid $350 on accounts payable. 17 Performed services for customers on account, $3,500. 19 Paid rent expense for the month, $1,200. Received $1,500 from customers for services to be performed next month. 20 21 Paid $900 for advertising in next month's IT Technology magazine. 23 Received $3,100 cash on account from a customer. 31 Incurred and paid salaries, $1,700. E2-18 Analyzing and journalizing transactions Journalize the transactions of Willke Technology Solutions. Include an explanation with each journal entry. Use the following accounts: Cash; Accounts Receivable; Office Supplies; Prepaid Advertising; Land; Building; Accounts Payable; Unearned Revenue; Wilke, Capital; Service Revenue; Rent Expense; and Salaries Expense.
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...
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