Prepare the journal entries March 1 Abby Todd invested Cash of $5000 in the new employment agency,
Question:
Prepare the journal entries
March 1
Abby Todd invested Cash of $5000 in the new employment agency, along with a computer worth $1200, and office furniture worth $1800. HINT: ALOE & entry must balance.
March 4
Additional equipment, a second hand scanner was purchased for cash, $200
March 5
Employment fees commission was earned $200 for recruiting for Blue Co. and the payment will only be received in June
March 7
Wages of $300 was paid to receptionist
March 8
Abby Todd, paid her home utility bill of $75 using the company cheque book.
March 11
Abby Todd placed Rick Wood at DVD Corporation and received $1200 as employment fees commission.
March 15
Abby Todd put $100 worth of gas in her personal vehicle using company funds, for travelling to see potential clients.
March 15
A variety of office supplies items for $200 was purchased for cash from Office Depot.
March 20
Abby Todd place Sue Best in a local non-profit organisation called “All for You”, and billed the company the $500 commission fee, payable in 45 days.
March 27
Abby Todd attended a training workshop on the steps to successful recruiting and paid $375 to “Best Practices Co”.
March 28
The March telephone bill for $180 was received from Telus and not yet paid.
March 28
An early part payment of $75 was received from Blue Co to reduce the amount they owed.
Advanced Accounting
ISBN: 978-0538480284
11th edition
Authors: Paul M. Fischer, William J. Tayler, Rita H. Cheng