(Transaction Analysis—Service Company) Christine Ewing is a licensed CPA. During the first month of operations of her business (a sole proprietorship), the following events and transactions occurred.
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2 Apr |
2 Invested $30,000 cash and equipment valued at $14,000 in the business. |
|
2 |
2 Hired a secretary receptionist at a salary of $290 per week payable monthly. |
|
3 |
3 Purchased supplies on account $700. (debit an asset account.) |
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7 |
7 Paid officerent of $600 for the month. |
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11 |
Completed a tax assignment and billed client $1,100 for services rendered. (Use Service Revenue account.) |
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12 |
Received $3,200 advance on a management consulting engagement. |
|
17 |
Received cash of $2,300 for services completed for Ferengi Co. |
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21 |
Paid insurance expense $110. |
|
30 |
Paid secretary receptionist $1,160 for the month. |
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30 |
A count of supplies indicated that $120 of supplies had been used. |
|
30 |
Purchased a new computer for $5,100 with personal funds. (The computer will be used exclusively for business purposes.) |
Instructions
Journalize the transactions in the general journal. (Omit explanations.)