Question: Miko Ohara provides consulting services under the business title MO

Miko Ohara provides consulting services under the business title MO Consulting, Inc. During November, her business engaged in the following transactions:
Nov 1 Sold $55,000 of shares to Ohara to start the business.
3 Paid $200 for the purchase of office supplies.
8 Paid $28,000 cash to purchase land for an office site.
12 Purchased office equipment on account, $2,800.
17 Borrowed $50,000 from the bank. Ohara signed a note payable to the bank in the name of the business.
26 Paid $2,700 on account.
30 Revenues earned during the month included $12,000 cash and $23,000 on account. 30 Paid employees’ salaries, $2,100; office rent, $2,500; and utilities, $300.
30 Paid $2,000 of dividends to shareholder, Ohara.
Ohara’s business uses the following accounts: Cash, Accounts Receivable, Supplies, Land, Office Equipment, Accounts Payable, Notes Payable, Common Shares, Dividends, Service Revenue, Salary Expense, Rent Expense, and Utilities Expense.
Requirement
Journalize each transaction. Omit explanations.


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  • CreatedJuly 08, 2015
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