Question: THE QUESTION IS HOW TO COMPLETE JOURNAL ENTRIES? The assets, liabilities, and owner s equity accounts for Carrie s Accounting Firm are below: Cash Office

THE QUESTION IS HOW TO COMPLETE JOURNAL ENTRIES?
The assets, liabilities, and owners equity accounts for Carries Accounting Firm are below:
Cash
Office Supplies
Office Equipment
Accounts Receivable
Accounts Payable
Carrie, Capital
Carrie, Drawing
Professional Fees
Utility Expense
Rent Expense
Salary Expense
Transactions:
1. Carrie invested $75,000 cash
2. Purchased office equipment on account from Torres company on account $12,000
3. Purchased office supplies $1000 on account
4. Received $700 for from a client
5. Purchased office supplies for $300
6. Paid salaries to employees $2500
7. Billed customer Diamond for services provided $3000
8. Paid utility bill $600
9. Paid rent $3000
10. Paid $6000 to Torres company (2)
11. Received $2000 from Diamond (7)
12. Carrie withdrew $3000 for personal use

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!