Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 10 Aug 2017 My Price 9.00

Santo Birch

Santo Birch opens a Web consulting business called Show-Me-the-Money and completes the following transactions in its first month of operations. March 1 Birch invests $150,000 cash along with office equipment valued at $22,000 in the company. 2 The company prepaid $6,000 cash for twelve months' rent for office space. (Hint: Debit Prepaid Rent for $6,000.) 3 The company made credit purchases for $3,000 in office equipment and $1,200 in office supplies. Payment is due within 10 days. 6 The company completed services for a client and immediately received $4,000 cash. 9 The company completed a $7,500 project for a client, who must pay within 30 days. 13 The company paid $4,200 cash to settle the account payable created on March 3. 19 The company paid $5,000 cash for the premium on a 12-month insurance policy. (Hint: Debit Prepaid Insurance for $5,000.) 22 The company received $3,500 cash as partial payment for the work completed on March 9. 25 The company completed work for another client for $3,820 on credit. 29 Birch withdrew $5,100 cash from the company for personal use. 30 The company purchased $600 of additional office supplies on credit. 31 The company paid $200 cash for this month's utility bill. Record these transactions using the following titles: Cash, Accounts Receivable, Office Supplies, Prepaid Insurance, Prepaid Rent, Office Equipment, Accounts Payable, S. Birch, Capital, S. Birch, Withdrawals, Services Revenue, and Utilities Expense

Answers

(5)
Status NEW Posted 10 Aug 2017 12:08 PM My Price 9.00

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