One Ivanhoe Corp. had the following transactions during the first month of business. Aug. 2 7...
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One Ivanhoe Corp. had the following transactions during the first month of business. Aug. 2 7 12 15 19 Owner invested $11,750 cash and $2,485 of equipment in the business in exchange for common shares. Purchased supplies on account for $685. (Debit asset account.) Performed services for clients, collecting $1,200 in cash and billing the clients $545 for the remainder. Paid August rent, $630. Counted supplies and determined that only $205 of the supplies purchased on August 7 were still on hand. Journalize the transactions. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem.) Account Titles and Explanation Date Debit Credit One Ivanhoe Corp. had the following transactions during the first month of business. Aug. 2 7 12 15 19 Owner invested $11,750 cash and $2,485 of equipment in the business in exchange for common shares. Purchased supplies on account for $685. (Debit asset account.) Performed services for clients, collecting $1,200 in cash and billing the clients $545 for the remainder. Paid August rent, $630. Counted supplies and determined that only $205 of the supplies purchased on August 7 were still on hand. Journalize the transactions. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem.) Account Titles and Explanation Date Debit Credit One Ivanhoe Corp. had the following transactions during the first month of business. Aug. 2 7 12 15 19 Owner invested $11,750 cash and $2,485 of equipment in the business in exchange for common shares. Purchased supplies on account for $685. (Debit asset account.) Performed services for clients, collecting $1,200 in cash and billing the clients $545 for the remainder. Paid August rent, $630. Counted supplies and determined that only $205 of the supplies purchased on August 7 were still on hand. Journalize the transactions. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem.) Account Titles and Explanation Date Debit Credit
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Related Book For
Intermediate Accounting
ISBN: 978-0176509736
10th Canadian Edition, Volume 1
Authors: Donald Kieso, Jerry Weygandt, Terry Warfield, Nicola Young,
Posted Date:
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