Excel Applications for Accounting Principles
4th Edition
ISBN: 9781111581565
Author: Gaylord N. Smith
Publisher: Cengage Learning
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Chapter 1, Problem 1R
On June 1 of the current year, Wilson Wood opened Woodyʼs Web Services. This sole proprietorship had the following transactions during June.
- a. Opened a business checking account and made a deposit, $9,000.
- b. Paid rent for June for office space and computer equipment, $3,000.
- c. Purchased office supplies (stamps, pens, etc.) on account, $1,980.
- d. Received cash for services rendered, $4,500.
- e. Paid creditor for office supplies purchased on account, $1,400.
- f. Purchased office supplies for cash, $420.
- g. Billed clients for consultations performed on account, $4,600.
- h. Paid monthly internet service bill of $360.
- i. Paid the secretaryʼs salary of $2,400.
- j. Returned $300 of office supplies purchased in transaction f. Received a full refund.
- k. Received cash from clients previously billed, $3,000.
- l. Cash was withdrawn for ownerʼs personal use, $2,000.
REQUIREMENT
1. Review the printout of the worksheet PTRANS. You have been asked to complete the worksheet by recording these transactions.
Expert Solution & Answer
To determine
Show the printout of worksheet of PTRANS.
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Chapter 1 Solutions
Excel Applications for Accounting Principles
Ch. 1 - On June 1 of the current year, Wilson Wood opened...Ch. 1 - On June 1 of the current year, Wilson Wood opened...Ch. 1 - On June 1 of the current year, Wilson Wood opened...Ch. 1 - On June 1 of the current year, Wilson Wood opened...Ch. 1 - On June 1 of the current year, Wilson Wood opened...Ch. 1 - On June 1 of the current year, Wilson Wood opened...Ch. 1 - Prob. 7R
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