Question

Wrona & Associates, Inc., completed the following transactions during December 2012, its first month of operations:
Dec 1 Sold $70,000 of common stock to Karen Wrona to start the business.
3 Purchased supplies on account, $100.
5 Paid cash for a building to use for storage, $30,000.
6 Performed service for customers and received cash, $3,000.
11 Paid on accounts payable, $50.
18 Performed service for customers on account, $3,100.
24 Received cash from a customer on account, $800.
31 Paid the following expenses: salaries, $950; and rent, $1,600.

Requirement
1. Using the steps outlined in the five-step transaction analysis, journalize the transactions of Wrona & Associates, Inc. List transactions by date. Explanations are not required.



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  • CreatedApril 29, 2014
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