Margaret Crusher is a licensed CPA. During the first rUnT
Margaret Crusher is a licensed CPA. During the first rUnT UI upcraiuns of her business (a sole proprietorship), the following
events and transactions occurred.
April
Invested $33,160 cash and equipment valued at $16,250 in the business.
2
2 Hired an administrative assistant at a salary of $345 per week payable monthly.
3 Purchased supplies on account $566. (Debit an asset account.)
7 Paid office rent of $688 for the month.
11 Completed a tax assignment and billed client $1,121 for services rendered. (Use Service Revenue account.)
12 Received $3,637 advance on a management consulting engagement.
17 Received cash of $2,482 for services completed for Ferengi Co.
21 Paid insurance expense $105.
30 Paid administrative assistant $1,380 for the month.
30 A count of supplies indicated that $121 of supplies had been used.
30 Purchased a new computer for $6,241 with personal funds. (The computer will be used exclusively for business
purposes.)
Journalize the transactions in the general journal. (Credit account titles are automatically indented when amount is
entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the
amounts. Record journal entries in the order presented in the problem.)
