Annette Martinelli opened Best Bookkeeping Business $($BBB$)$ on June $1,2019.$  She rented office space and hired a part$-$time employee. Annette set up her Chart of Accounts as follows:

Assets Revenues

$101$ Cash $401$ Bookkeeping Fees

$122$ Accounts Receivable

$142$ Office Supplies Expenses

$181$ Office Equipment

 $511$ Wages Expense

 $512$ Advertising Expense

Liabilities $521$ Rent Expense

$202$ Accounts Payable $525$ Phone Expense

 $526$ Transportation Expense

Owner$’$s Equity $533$ Electric Expense

$311$ Annette Martinelli, Capital $549$ Miscellaneous Expense

$312$ Annette Martinelli, Drawing

Annette$’$s transactions for BBB during June $2019$:

June $1$  Annette invested $$5,000$ in BBB

 $2$  Paid June rent of $$500$

 $3$  Purchased $$100$ of office supplies

 $4$ Purchased office equipment on account for $$2,000$

 $5$ Received cash for bookkeeping services provided, $$280$

 $7$ Paid phone bill, $$38$

 $8$ Paid electrical bill, $$42$

 $10$ Received cash for bookkeeping services provided, $$310$

 $13$ Paid part$-$time employee, $$500$

 $14$ Paid for car rental for business trip, $$200$

 $15$ Paid for local magazine ad$,$ $$30$

 $18$ Received cash for bookkeeping services provided, $$620$

 $19$ Paid Uber expense for trip to client$’$s office, $$22$

 $20$ Annette withdrew cash for personal use, $$50$

 $23$ Made payment on account for office equipment purchased on June $4,$ $$200$

 $24$ Earned bookkeeping fees, expected payment in a week, $$500$

 $26$ Paid for local magazine ad$,$ $$30$

 $27$ Paid for local soccer team sponsorship $($listed as Miscellaneous Expense$),$ $$15$

 $28$ Paid part$-$time employee, $$500$

 $29$ Received cash on account $($fees earned on May $24),$ $$250$

 $30$ Received cash for bookkeeping services provided, $$280$

 $30$ Paid Uber expense for trip to client$’$s office, $$13$

$1.$ Journalize the transactions for June

$2.$ Post transactions to the General Ledger

$3.$ Prepare a Trial Balance

$4.$ Prepare an Income Statement for the month of June

$5.$ Prepare a Statement of Owner$’$s Equity for the month of June

$6.$ Prepare a Balance Sheet as of June $30,2019$

 

Answer rating: 100% (QA)

Best Bookkeeping Business BBB June 2019 Transactions 1 Journalizing Transactions Date Account Debited Amount Account Credited Amount Description Jun 1 ... View the full answer