101 Cash 106 Accounts Receivable 124 Office Supplies 128 Prepaid Insurance 167 C
ID: 2341296 • Letter: 1
Question
101 Cash 106 Accounts Receivable 124 Office Supplies 128 Prepaid Insurance 167 Computer Equipment 168 Accumulated Depreciation Computer Equip. 640 Rent Expense 209 Salaries Payable 307 Common Stock 318 Retained Earnings 319 Dividends 405 Commissions Earned 410 Consulting Revenue 612 Depreciation Expense Computer Equip 622 Salaries Expense 637 Insurance Expense 650 684 688 901 Office Supplies Expense Repairs Expense Telephone Expense Income Summary You may ADD additional accounts as necessary. Be sure to assign an account # based on the account classification 100-199 lities: 200-299 300-399 400-499 penses: 600-699 April 1, 2018, John Adams created a new travel agency, Adventure Travel. The following transactions occurred during the company's first month Apr Adams invested $54,000 cash and computer equipment worth $27,000 in the company in exchange for common stock 2 The company rented furnished office space by paying $5,200 cash for the first month's (April) 3 The company purchased $3,800 of office supplies for cash and debited the entire amount to an 5 The company collected $10,500 cash for consulting services to be provided in the next three 7The company paid $2,640 cash for the premium on a 12-month insurance policy. Coverage rent expense account months begins on April 8Explanation / Answer
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Date Accounts title Dr Cr April 1 Cash 54000 Computer Equipment 27000 To common stock 81000 2 Rent expense 5200 To cash 5200 3 Office supplies expense 3800 To cash 3800 5 cash 10500 To Unearned consulting revenue 10500 7 Prepaid insurance 2640 To cash 2640 14 Salaries expense 2400 To cash 2400 24 Cash 21600 To commission earned 21600 28 Salaries expense 2400 To Cash 2400 29 Repair expense 650 To cash 650 30 Telephone expense 1600 To cash 1600 30 Dividend 1200 To cash 1200Related Questions
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