Aron is the owner of the LifeStyle Architecture Company. The following are transactions recorded during the...
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Aron is the owner of the LifeStyle Architecture Company. The following are transactions recorded during the month of February 2021. 1. Aron invested $56,000 cash and $10,000 valued delivery truck into the business. 2. Paid cash for office rent $2,400. 3. Purchased office supplies $1,200 for cash 4. Purchased equipment for $32,000 from First decors on credit. 5. Took a cash loan $ 25,000 6. Paid cash for annual insurance policies $4,000. 7. Aron withdrew $10,000 for personal use 8. Performed service to the client MJ media for $9,000 cash 9. Performed service to the client Emar Inc. for $10,000 on account 10. Paid cash for salary $6,450 11. Paid cash $ 25,000 to First decors for transaction 4 12. Aron invested $25,000 valued office building into the business 13. Received cash $ 8,000 from Emar Inc. for transaction 9 14. Paid cash for digital printing $3,500 15. Received cash $ 2,000 from Emar Inc. for transaction 9 16. Paid cash $ 7,000 to First decors for transaction 4 Instructions: Prepare journal entries for the transactions Aron is the owner of the LifeStyle Architecture Company. The following are transactions recorded during the month of February 2021. 1. Aron invested $56,000 cash and $10,000 valued delivery truck into the business. 2. Paid cash for office rent $2,400. 3. Purchased office supplies $1,200 for cash 4. Purchased equipment for $32,000 from First decors on credit. 5. Took a cash loan $ 25,000 6. Paid cash for annual insurance policies $4,000. 7. Aron withdrew $10,000 for personal use 8. Performed service to the client MJ media for $9,000 cash 9. Performed service to the client Emar Inc. for $10,000 on account 10. Paid cash for salary $6,450 11. Paid cash $ 25,000 to First decors for transaction 4 12. Aron invested $25,000 valued office building into the business 13. Received cash $ 8,000 from Emar Inc. for transaction 9 14. Paid cash for digital printing $3,500 15. Received cash $ 2,000 from Emar Inc. for transaction 9 16. Paid cash $ 7,000 to First decors for transaction 4 Instructions: Prepare journal entries for the transactions
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Journal entices Cash ale ale Dr Truck all Dr To Avon Capital all invested cash and asset wito the b... View the full answer
Related Book For
Intermediate Accounting
ISBN: 978-0176509736
10th Canadian Edition, Volume 1
Authors: Donald Kieso, Jerry Weygandt, Terry Warfield, Nicola Young,
Posted Date:
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