Login

Name Mya Franklin THE RECORDING PROCESS Task #1 Mya Franklin began...

70.2K

Verified Solution

Question

Accounting

Name

Mya Franklin

THE RECORDING PROCESS

Task # $1$

Mya Franklin began a restaurant consulting company. Below are events and transactions that occurred during the first month of operations.

$($ a $)$ Prepare the necessary general journal entries. If no entry is needed put N $/$ A $.$

$($ b $)$ Post journal entries to the ledger accounts.

$($ c $)$ Prepare the month end trial balance.

May $1$ Mya Franklin invested $ $37, 000$ cash $t o$ start a consulting business.

$2$ Hired a receptionist $a t$ a salary $o f$ $ $1, 500$ per month.

$3$ Purchased $ $900 o f$ supplies, $o n$ account, from Office Supply Company.

$7$ Paid office rent $o f$ $ $2, 000$ for the month

$11$ Billed client $ $1, 700$ providing consulting services.

$12$ Received $ $5, 000$ advance $o n$ a consulting engagement.

$17$ Received cash $o f$ $ $1, 400$ for services completed for Mutter Company.

$31$ Paid receptionist salary for the month.

$31$ Paid $30 % o f$ the balance due $t o$ Office Supply Company.

$($ a $)$

$\$ table $[[$ General Journal $], [$ Date $,$ Account Titles $($ Explanation NOT required $),$ Ref.,Debit,Credit $], [,,,,], [,,,,], [,,,,], [,,,,], [,,,,], [,,,,], [,,,,], [,,,,], [,,,,], [,,,,], [,,,,], [,,,,], [,,,,], [,,,,], [,,,,], [,,,,]]$

Page $1$ of $12$

Answer & Explanation Solved by verified expert

answer-section

Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:

Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!

Become a Member

Other questions asked by students

Mechanical Engineering

1.2K views

In a gas turbine plant, air is compressed from 1.01 bar and 15 ?C through a...

Electrical Engineering

1.2K views

a) In your own understanding draw a static PMOS and NMOS structure transistors and explain how each...

Advance Math

1.2K views

1)What is the advantage of solving differential equations using Laplace Transforms over prior time-domain techniques cover...

General Management

1.2K views

what are the characteristics of optimization problems

Physics

1.2K views

a non linder is rotated about its axis with a constant angular velocity o Uplo...

Basic Math

1.2K views

What words describe how Anthony should build the next model in his series of concrete...

Basic Math

1.2K views

If the length of a sea turtle isdirectly proportional to its age,and a 2-year old...

Accounting

1.2K views

During periods of both rising and falling prices, a perpetual inventory system will result in...

Accounting

1.2K views

Flannagan Corporation is authorized to issue 1,000 shares of 9% preferred stock at a par...

Accounting

1.2K views

The managers at Fairfield Engines want to find out the total cost of producing 16...

Accounting

1.2K views

X Company is considering conducting an immediate advertising campaign in order to increase sales of...

Accounting

1.2K views

Select one 3 .b .C .d...

1 Answer

$0.99

~~$1.99~~

(Save $1 )

One time Pay

No Ads
Answer to 1 Question
Get free Zin AI - 50 Thousand Words per Month

Best

Unlimited

$4.99*

~~$9.99~~

(Save $5 )

Billed Monthly

No Ads
Answers to Unlimited Questions
Get free Zin AI - 3 Million Words per Month

*First month only

Free

$0

Get this answer for free!
Sign up now to unlock the answer instantly

You can see the logs in the Dashboard.

Sign In

Don't have an account? Sign Up