Question: How do I do these journal entries ? Excel File Edit View Insert Format Tools Data Window Help A B )) 100% 7 EB Thu

How do I do these journal entries ?

How do I do these journal entries ? Excel File Edit View

Excel File Edit View Insert Format Tools Data Window Help A B )) 100% 7 EB Thu 11:49 AM General Journal question -Claret Suarez Q - Search Home Insert Page Layout Formulas Data Review View X Cut Calibri (Body) 12 A- A- Copy Ed Wrap Text General Paste Format B I U A |Merge & Center $ 7 % 4.0 .0 Conditional Format Call Insert Delete Format Formatting as Table Styles X Office Update To keep up-to-date with security updates, fixes, and Improvements, choose Check for Updates. B13 + X V fx A B 1 Question 1 You have been hired as the accountant for a newly formed Adventures Travel Agency Inc. 2 The following business transactions occurred during the month of January, 2020, first month of operations. 3 01-Jan Shareholders invested $5,000 in cash for 10,000 common shares to start the corporation. 03-Jan Hired a secretary-receptionist at a monthly salary of $1,900. 5 05-Jan Received a bank loan for $20,000. 6 07-Jan Purchased office equipment for $1,200, paying $400 in cash and the balance on account. 7 09-Jan Purchased $1,450 of office supplies on account for use in January. 8 11-Jan Earned $18,000 for services performed: cash of $2,000 was received from customers, and the balance was billed to customers on account. 9 16-Jan Paid the utility bill for the month, $2,000. 10 20-Jan Paid $2,500 cash for office salaries. 11 27-Jan Received $7,000 cash from a client in payment on account for services billed on January 11. 12 13 Instructions

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!