Question: can someone help me to create entries? for example the first entry that I have is as follow: 1/2/16 cash 175000 Owner's Equity 175000 1/2/2016
can someone help me to create entries? for example the first entry that I have is as follow:
1/2/16 cash 175000
Owner's Equity 175000
| 1/2/2016 | Jeff invested $175,000 in JEFFCORP in exchange for 10,000 shares of 10 par Common Stock | |||||||
| 1/2/2016 | Received $60,000 from VernCorp for 6 months rent | |||||||
| 1/15/2016 | Purchased Equipment for $50,000. Useful life is 20 years and residual value is $5,000. | |||||||
| DDB depreciation is employed. | ||||||||
| 1/15/2016 | Leased a Building for $3,300 per month for 10 years | |||||||
| 1/16/2016 | Purchased $86,000 supplies on account. $6,700 supplies were on hand at 12/31/2016 | |||||||
| 1/2/2016 | Salary expense is $15,000 per month, Utilities are $2,500 per month. | |||||||
| 12/31/2016 | Federal taxes withheld $4,000, State taxes withheld $1,200. FICA rate is .0765, FUTA is .008, | |||||||
| and SUTA | ||||||||
| is .0375 | ||||||||
| 12/31/2016 | Board of Directors declared and paid dividends of $50,000 | |||||||
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