PROBLEM I Anna Taylor started a new business, Taylor Gymnastics, and completed t
ID: 2414048 • Letter: P
Question
PROBLEM I Anna Taylor started a new business, Taylor Gymnastics, and completed the following transactions during December Dec Anna contributed $3,000 cash in exchange for services provided Received $4,000 cash from customers for services provided Paid S100 cash for office supplies Performed services for a customer and billed the customer for services rendered. #3.000 10 20 25 28 28 0 Received $2,800 cash from customers for service performed Received $200 bill for utlities due in two weeks Paid for advertising in local paper, $125 Paid utility bill received on Dec. 10 Collected cash from customer billed on Dec. 9 Paid rent for the month, $1,500 Paid 1,050 to assistant for wages Cash dividends of S2,000 were paid to stockholders
Explanation / Answer
Dr.
Cash
Cr.
services provides
3000
Office supplies
100
Services provided
4000
Advertisement
125
Accounts receivable
3000
Accounts payable
200
Services provided
2800
Rent
1500
Wages
1050
Dividend
2000
Dr.
Services provided
Cr.
cash
3000
Cash
4000
Accounts receivable
3000
Cash
2800
Dr.
Office supplies
Cr.
Cash
100
Dr.
Accounts receivable
Cr.
Services provided
3000
Cash
3000
Dr.
Accounts payable
Cr.
Cash
200
Utilities
200
Dr.
Utilities
Cr.
Accounts payable
200
Dr.
Advertisement
Cr.
Cash
125
Dr.
Rent
Cr.
Cash
1500
Dr.
Wages
Cr.
Cash
1050
Dr.
Dividend
Cr.
Cash
2000
Dr.
Cash
Cr.
services provides
3000
Office supplies
100
Services provided
4000
Advertisement
125
Accounts receivable
3000
Accounts payable
200
Services provided
2800
Rent
1500
Wages
1050
Dividend
2000
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