Prepare a Journal Entries (all information is given)

1-Jan	Nighthawk Services was incorporated in the state of VA. The company will provide management consulting services to business and governmental clients.
2-Jan	Tom M. contributed $20,000 of personal funds to the business in exchange for shares of common stock
3-Jan	Nighthawk Services signed a contract to provide consulting services for $10,000 to ABC client.
4-Jan	Nighthawk Services received $10,000 from ABC for work to be performed half in January and half in February.
5-Jan	Nighthawk Services bought $700 of office supplies on account
6-Jan	Nighthawk Services bought $5,000 of office equipment using cash
7-Jan	Nighthawk Services hired 2 consultants
8-Jan	Nighthawk Services purchased a 12 month insurance contract for $12,000
9-Jan	Nighthawk Services paid $650 cash for rental of office space for January
10-Jan	Nighthawk Services paid $400 on account for advertising during January.
11-Jan	Nighthawk Services was paid $3000 from Fed Corp to perform services during January
12-Jan	Nighthawk Services purchased $200 of supplies using cash
13-Jan	Nighthawk Services signed a contract to provide consulting services for $36,000 to DMV client. Services to be provided equally over the next 12 months. Client will be billed at end of each month.
14-Jan	Nighthawk Services pays employees $5,000 in salaries
15-Jan	Nighthawk Services borrowed $500,000 on a 3% note payable. (interest rate was added)
16-Jan	Nighthawk Services purchased Land for $100,000 cash with plans to build an office building within the next year.
17-Jan	Nighthawk Services paid $200 cash for repairs and maintenace to equipment
20-Jan	Nighthawk Services loans $1000 to G Corp on a 5% (interest) note receivable
21-Jan	Nighthawk Services pays employees $5,000 in salaries
22-Jan	Nighthawk Services gets paid $850 for services performed to Vector Corp
23-Jan	Nighthawk Services purchases $1,000 in stock investments
24-Jan	Nighthawk Services gets a $275 bill for utilities used in January
25-Jan	Nighthawk Services pays $650 in office rent for month of February
26-Jan	Nighthawk Services pays $2,000 in dividends
27-Jan	Nighthawk Services pays $400 cash to attend an event to promote business at a convention in January
28-Jan	Nighthawk Services pays $490 cash for taxes
29-Jan	Nighthawk Services pays employees $5,000 in salaries
30-Jan	Nighthawk Services paid for $700 office supplies previously purchased on account
31-Jan	Nighthawk Services has to prepare financial statements for the owner and the bank from which the funds were borrowed.
January Month End Adjustments
31-Jan	Nighthawk Services calculated $500 in depreciation
31-Jan	Nighthawk Services owes $400 in interest on the loan
31-Jan	Nighthawk Services counted $400 in remaining supplies (on hand supplies)
31-Jan	Nighthawk Services owes employees $1,000 in salaries for work performed in January

 
 

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