William Curtis is a personal finance expert and owns Much Money Consulting. This is his first month

William Curtis is a personal finance expert and owns €œMuch Money€ Consulting. This is his first month of operations and William has hired you to do his accounting. The following transactions are for the month of October.
a. On October 2, William Curtis invested $32,600 cash into his business. 

b. On October 4, purchased $925 of office supplies for cash. 

c. On October 6, purchased $13,600 of office equipment on credit. 

d. On October 10, received $3,000 cash as revenue for being a guest on the TV show CityTalk. 

e. On October 12, paid for the office equipment purchased in transaction (c).
f. On October 16, billed a customer $5,400 for delivering a corporate workshop on smart investing.
g. On October 18, paid October€™s rent for the downtown office with $3,500 cash. 

h. On October 26, collected cash for all of the account receivable created in transaction (f). 

i. On October 31, withdrew $5,000 cash from the business for a trip to Hawaii.

Required 

For each transaction, 

(1) complete the analysis, 

(2) determine the journal entry analysis 

(3) record the journal entry. Use the template below. Transaction a. has been completed for you.

Transcribed Image Text:

Assets increase. Equity increases. Analysis a. Debit the Cash account for $32,600. Credit the William Curtis, Capital account for $32,600. Journal entry analysis Journal Entry Account Titles and Explanation Credit Date Debit Oct. 2 32,600 Cash... William Curtis, Capital 32,600 Investment by owner. Continue b.