Details of this Paper

Kathleen Alvarez established an interior decorating business, Intrex Designs. During the month

Description

solution


Question

Question;On April 1, 2012, Kathleen Alvarez established an interior decorating business, Intrex Designs. During the month, Kathleen completed the following transactions related to the business:Apr. 1. Kathleen transferred cash from a personal bank account to an account to be used for the business in exchange for capital stock, $17,000.2. Paid rent for period of April 2 to end of month, $3,400.6. Purchased of?ce equipment on account, $10,000.8. Purchased a used truck for $21,000, paying $2,000 cash and giving a note payable for the remainder.10. Purchased supplies for cash, $1,800.12. Received cash for job completed, $13,000.Apr. 15. Paid annual premiums on property and casualty insurance, $1,800.23. Recorded jobs completed on account and sent invoices to customers, $9,000.24. Received an invoice for truck expenses, to be paid in April, $1,000.Enter the following transactions on Page 2 of the two-column journal.29. Paid utilities expense, $1,500.29. Paid miscellaneous expenses, $750.30. Received cash from customers on account, $7,800.30. Paid wages of employees, $4,000.30. Paid creditor a portion of the amount owed for equipment purchased on April 6, $2,500.30. Paid dividends, $2,000.These are the answers below, show me how to put them in the template in attached files1) CashKathleen Alvarez, Capital113117,0002) Rent ExpenseCash53113,4006) EquipmentAccounts Payable162210,0008) TruckCashNotes Payable1811212 1,00010) SuppliesCash13111,80012) CashFees Earned114113,00017,0003,40010,0002,00019,0001,80013,00015) Prepaid InsuranceCash14111,80023) Accounts ReceivableFees Earned12419,00024) Truck ExpenseAccounts Payable55221,0001,8009,0001,000Apr. 29) Utilities ExpenseCashDebitCredit54111,50029) Miscellaneous ExpenseCash59117 5030) CashAccounts Receivable11127,80030) Wages ExpenseCash51114,00030) Accounts PayableCash22112,50030) Kathleen Alvarez, DrawingCash32112,000Attachment Preview

 

Paper#42176 | Written in 18-Jul-2015

Price : $24
SiteLock