服务型企业业务题答案.docx

Sep.1 Friedmanbeganabusinessbyinvesting$50000incash,$3000insuppliesand$25000inequipment

Sep.1 Boughtsuppliesforcash,$540Sep.2 Prepaidtherentforsixmonth,$7200

Sep.3 Purchasedadditionalsuppliesoncredit,$320

Sep.5 Prepaidtheinsurancepremiumforthreemonth$3000

Sep.9 Performedservicesandimmediatelycollected$3200cashforthework.Sep.13 PaidforthesuppliespurchasedonSeptember3

Sep.15 Purchasedequipmentonaccount$5800

Sep.16 PerformedservicesforAdamonaccount$850

Sep.23 CompletedprofessionalworkforVatoncredit,$6800

Sep.26 Received$850fromAdamfortheworkcompletedonNov.16.

Sep.28 Friedmanwithdrew$100fromthebusinesstopayhishomeutilitybillSep.29 Withdrew$2500forpersonaluse

Sep.30 PaidtheSeptembertelephonebilloftheoffice,$380Sep.30 Madeadditionalcashinvestmentinthebusiness$2000Additionalinformationforadjustmentattheendofthemonth:

RentexpenseforSeptember$1200

Insuranceexpenseexpired$1000

MedicalsuppliesusedinNovember$750

Theaccumulateddepreciationforequipment$860

Accruedsalaryofthereceptionistandassistant$2570

Accruedservicerevenue $3250Required: Journalizethetransactions;

Postthejournalentriestotheledgeraccounts;Completetheworksheet.

Preparethefinancialstatements.

Makethejournalentryandpostthemtotheledger.Closetheaccounts.

General Journal Page1

Date

DateStep1Step1Step1Step1Sep.2

Sep.3

AccountsandExplanationinvestingincashand

investing insupplies

investing

in

equipment

Boughtsuppliesforcash,

Prepaidtherentforsixmonth,

Purchased

credit,

additional

supplies

P.R.

$50000

$3000

$25000

$540

$7200

on $320

Debit

CashSuppliesequipmentsuppliesPrepaidrent

supplies

Sep.5

Credit

CapitalCapitalCapital

CashCash

AccountsPayable

Cash

Sep.9

Prepaidtheinsurancepremiumforthreemonth

Performedservicesandimmediately

$3000

8$3200

PrepaidInsurance

cash

collected cashforthe