Journalize the transactions 01. 02. 03. 04. 05. 06. 07. 08. 09. 10. 11. June 1: Hudson
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01. 02. 03. 04. 05. 06. 07. 08. 09. 10. 11. June 1: Hudson Bloom invested $141,904.00 cash and computer equipment with a fair market value of $43,120.00 in his new business, Byte of Accounting. June 1: Check # 5000 was used to purchased office equipment costing $1,064.00 from Office Express. The invoice number was 87417. June 1: Check # 5001 was used to purchased computer equipment costing $14,000.00 from Maxwell Monroe. The invoice number was 20117.. June 2: Check # 5002 was used to make a down payment of $30,000.00 on additional computer equipment that was purchased from Royce Computers, invoice number 76542. The full price of the computer was $150,000.00. A five-year note was executed by Byte for the balance. June 4: Additional office equipment costing $700.00 was purchased on credit from Discount Computer Corporation. The invoice number was 98432. June 8: Unsatisfactory office equipment costing $140.00 from invoice number 98432 was returned to Discount Computer for credit to be applied against the outstanding balance owed by Byte. June 10: Check # 5003 was used to make a $23,000.00 payment reducing the principal owed on the June 2 purchase of computer equipment from Royce Computers. June 14: Check # 5004 was used purchase a one-year insurance policy covering its computer equipment for $6,312.00 from Seth's Insurance. The effective date of the policy was June 16 and the invoice number was 2387. June 16: A check in the amount of $7,250.00 was received for services performed for Pitman Pictures. June 16: Byte purchased a building and the land it is on for $107,000.00 to house its repair facilities and to store computer equipment. The lot on which the building is located is valued at $17,000.00. The balance of the cost is to be allocated to the building. Check # 5005 was used to make the down payment of $10,700.00. A thirty year mortgage with an inital payement due on August 1st, was established for the balance. June 17: Check # 5006 for$8,000.00 was paid for rent of the office space for June, July, August and 01. 02. 03. 04. 05. 06. 07. 08. 09. 10. 11. June 1: Hudson Bloom invested $141,904.00 cash and computer equipment with a fair market value of $43,120.00 in his new business, Byte of Accounting. June 1: Check # 5000 was used to purchased office equipment costing $1,064.00 from Office Express. The invoice number was 87417. June 1: Check # 5001 was used to purchased computer equipment costing $14,000.00 from Maxwell Monroe. The invoice number was 20117.. June 2: Check # 5002 was used to make a down payment of $30,000.00 on additional computer equipment that was purchased from Royce Computers, invoice number 76542. The full price of the computer was $150,000.00. A five-year note was executed by Byte for the balance. June 4: Additional office equipment costing $700.00 was purchased on credit from Discount Computer Corporation. The invoice number was 98432. June 8: Unsatisfactory office equipment costing $140.00 from invoice number 98432 was returned to Discount Computer for credit to be applied against the outstanding balance owed by Byte. June 10: Check # 5003 was used to make a $23,000.00 payment reducing the principal owed on the June 2 purchase of computer equipment from Royce Computers. June 14: Check # 5004 was used purchase a one-year insurance policy covering its computer equipment for $6,312.00 from Seth's Insurance. The effective date of the policy was June 16 and the invoice number was 2387. June 16: A check in the amount of $7,250.00 was received for services performed for Pitman Pictures. June 16: Byte purchased a building and the land it is on for $107,000.00 to house its repair facilities and to store computer equipment. The lot on which the building is located is valued at $17,000.00. The balance of the cost is to be allocated to the building. Check # 5005 was used to make the down payment of $10,700.00. A thirty year mortgage with an inital payement due on August 1st, was established for the balance. June 17: Check # 5006 for$8,000.00 was paid for rent of the office space for June, July, August and
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Operations Management Sustainability And Supply Chain Management
ISBN: 9780135173626
13th Edition
Authors: Jay Heizer, Barry Render, Chuck Munson
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