Buring the month of October of the current year, Dan\'s Ac R. 2018 The following

Question

Buring the month of October of the current year, Dan's Ac R. 2018 The following transactions occurred. counting Service was opened Oct 1 Dan sold $70,000 worth of stock (50 Dan purchased $9,500 worth of office equipment on account from Noe Furniture Supply OctI shares) to start the business Oct 1 Dan paid October's rent on the office. He wrote a check for $2.500 Oct 2 Dan purchased $400 worth of office supplies for cash. Oct 4 The telephone was installed. We paid $95 (Utilities Expense Oct 4 Oct 4 Oct 5 Oct 5 A D an placed an advertisement in the Anoka County Shopper. It cost $150 (cash) Dan started a petty cash fund with $50 for a fund balance. Ve purchased (for cash) $45 worth of stamps (Miscellaneous Expense) three-month umbrella insurance policy was purchased for $720 (cash) Pola's Automotive Supply Company paid us $2,800 (cash) for setting up their Oct 7 books. Oct 9 We earned $3,200 from Esparsen's Fine Furniture Company for setting up their Oct 12 We paid a part-time employee $90 for running errands. There are no taxes to be Oct 14 Frisque's Food Service, Inc. paid us $1,700 for helping them with their taxes Oct 19 We paid our part-time employee $80 for running errands. There are no taxes to be Oct 23 We sent a check for $1,000 to Noe's Furniture Supply for the office equipment Oct 26 We earned $800 for consulting books. They will pay us later withheld The actual bill was for $3,500. They will pay us the rest next month withheld. purchased on October 1st us later with Strodthoft's Clothing Outlet. They will pay We paid our part-time employee $50 for running errands. There are no taxes withheld Oct 26 Oct 30 Esparsen's Fine Furniture Company paid us $900 on account for the work we did for them on October 9 Oct 30 Dan paid the stockholders $600 in dividends. Oct 31 Dan paid the electric bill which was $90 Oct 31 Dan replenished the petty cash fund. He had ised $12 for office supplies and S18 for miscellaneous expenses

Explanation / Answer

Dan's Accounting Services General Journal for the month of october Date Account Title Debit Credit Oct.1 Cash 70000 Common Stock 70000 (Issue of common stock) Oct.1 Office Equipment 9500 Accounts Payable 9500 (Purchase of office equipment on account) Oct.1 Rent Expense 2500 Cash 2500 (Rent for the month of October) Oct.2 Office Supplies 400 Cash 400 (Purchase of office supplies for cash) Oct.4 Utilities Expense 95 Cash 95 (Installation of telephone) Oct.4 Advertising Expense 150 Cash 150 (Advertising expense paid by cash) Oct.4 Petty cash 50 Cash 50 (Petty cash fund started) Oct.5 Miscellaneous Expense 45 Cash 45 (Purchase of stamps for cash) Oct.5 Pepaid Insurance 720 Cash 720 (Umbrella insurance policy purchased) Oct.7 Cash 2800 Service Revenue 2800 (Cash received from Pola's Automotive) Oct.9 Accounts Receivable 3200 Service Revenue 3200 (Service performed on account) Oct.12 Salaries Expense 90 Cash 90 (Payment to part-time employee) Oct.14 Accounts Receivable 3500 Service Revenue 3500 (Service performed on account) Cash 1700 Accounts Receivable 1700 (Cash received from Frisque's Food on account) Oct.19 Salaries Expense 80 Cash 80 (Payment to part-time employee) Oct.23 Accounts Payable 1000 Cash 1000 (Payment made to Noe's Furniture on account) Oct.26 Accounts Receivable 800 Service Revenue 800 (Service performed on account) Oct.26 Salaries Expense 50 Cash 50 (Payment to part-time employee) Oct.30 Cash 900 Accounts Receivable 900 (Payment received on account) Oct.30 Dividends 600 Cash 600 (Payment of cash dividends) Oct.31 Electricity Expense 90 90 Cash (Payment of electricity bill) Oct.31 Office Supplies 12 Miscellaneous Expense 18 Cash 30 (Replenishment of pettycash)

Related Questions

Navigate

• Browse (All)
• Browse B
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.