Dec. 1 Wonder contributed $62,000 cash to the business in exchange for capital 1 Purchased $15,600 of
Question:
Dec. 1 Wonder contributed $62,000 cash to the business in exchange for capital
1 Purchased $15,600 of equipment paying cash.
1 Paid $3,300 for a six-month insurance policy starting on December 1.
9 Paid $28,000 cash to purchase land to be used in operations.
10 Purchased office supplies on account, $3,000
19 Borrowed $20,000 from the bank for business use. Wonder signed a note payable to the bank in the name of the business. The note is due in five years.
22 Paid $800 for advertising expenses
26 Paid $1,500 on account.
28 The business received a bill for utilities to be paid in January, $300.
31 - Revenues earned during the month included $17.000 cash and $3,900 on account.
31 Paid employees' salaries $3.000 and building rent $500. Record as a compound entry.
31 The business received $1050 for auto screening services to be performed next month.
31 Wonder withdrew cash of $4.000.
Introduction to Financial Accounting
ISBN: 978-0133251036
11th edition
Authors: Charles Horngren, Gary Sundem, John Elliott, Donna Philbrick