Question: Wu & Associates, Inc., completed the following transactions during March 2016, its first month of operations: Mar 1 Cold S95.000 of common stock to Jimmy
Wu & Associates, Inc., completed the following transactions during March 2016, its first month of operations:
Mar 1 Cold S95.000 of common stock to Jimmy Wu to start the business.
3 Purchased supplies on account, $800.
5 Paid cash for a building to use for storage, $35.000.
6 Performed service for customers and received cash, $1 .500.
11 Paid on accounts payable, $500.
18 Performed service for customers on account, $2.600.
24 Received cash from a customer on account, $900.
30 Paid tile following expenses: salaries, $700: and rent, $1500.
Requirement
Using the steps outlined in the five-step transaction analysis, journalize the transactions of Wu & Associates, Inc. List transactions by date. Use the following accounts: Cash, Accounts Receivable, Supplies, Building, Accounts Payable, Common Stock, Service Revenue, Salaries Expense, and Rent Expense?
Step by Step Solution
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Journal DATE ACCOUNTS POST Dr Cr REF Mar 1 Cash 95000 Common stock ... View full answer
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Document Format (1 attachment)
1350-B-M-A-I(3103).xlsx
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