For each of the transactions in E3- 16 (including the sample), write the journal entry using the for-mat shown in this chapter.
a. (Sample) Received $ 9,500 cash for consulting services rendered in January.
b. Issued common stock to investors for $ 10,000 cash.
c. Purchased $ 12,000 of equipment, paying 25 percent in cash and owing the rest on a note due in 2 years.
d. Received $ 7,500 cash for consulting services to be performed in February.
e. Bought $ 1,000 of supplies on account.
f. Received utility bill for January for $ 1,250, due February 15.
g. Consulted for customers in January for fees totaling $ 15,900, due in February.
h. Received $ 12,000 cash for consulting services rendered in December.
i. Paid $ 500 toward supplies purchased in (e).

Transcribed Image Text:

Cash Assets300= Liabilities +Serv Stockhoklers Equity Service Revenue(+R) +9.500 9300