Directions Using the information below, put the transactions in pro forma and complete the required journal...

 

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Directions Using the information below, put the transactions in pro forma and complete the required journal entries, posting, and check your work with a trial balance. 1-Mar The owner of KJO Withholdings invested $75,000 cash into the company. 2-Mar The company purchased $2,725 worth of supplies on account. 5-Mar The company purchased equipment worth $5,700 on the account. 12-Mar Paid 24 months of insurance in advance for $4,500 cash. 15-Mar Received $8,525 cash for services rendered to WBR Inc. 17-Mar The company billed D&T Automotive $5,520 for services rendered. 20-Mar Received a down payment of 53,570 cash for work to be performed next month from WBR Inc. 25-Mar The owner withdrew $2,000 for personal use. Directions Using the information below, put the transactions in pro forma and complete the required journal entries, posting, and check your work with a trial balance. 1-Mar The owner of KJO Withholdings invested $75,000 cash into the company. 2-Mar The company purchased $2,725 worth of supplies on account. 5-Mar The company purchased equipment worth $5,700 on the account. 12-Mar Paid 24 months of insurance in advance for $4,500 cash. 15-Mar Received $8,525 cash for services rendered to WBR Inc. 17-Mar The company billed D&T Automotive $5,520 for services rendered. 20-Mar Received a down payment of 53,570 cash for work to be performed next month from WBR Inc. 25-Mar The owner withdrew $2,000 for personal use.

Answer rating: 100% (QA)

1 Pro Forma Journal Entries Date Account Debit Credit 1Mar Cash 75000 Owners Equity Ca... View the full answer