On 1 January 2024, Tom Lee started a web design firm, Web Solutions (WS). ...
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On January Tom Lee started a web design firm, Web Solutions WS The following are the transactions that occur during the first month of operations. Jan. Tom invested $ cash, and a $ computer in the firm. Jan. Tom received $ from his best friend, Dick as a personal loan to him. Jan. Tom invested the $ which he received from Dick as his own investment in the firm. Jan. The firm hired a webdesigner for $ per month. Jan. The firm paid $ cash for January and February rental and another $ for the rental deposit. The rental deposit is refundable. Jan. The firm purchased $ of supplies on account from a supplier. Jan. The firm billed a customer $ for a job done. Jan.The firm received $ cash from another customer as advance payment for a job to be performed in February. Jan.The firm received a telephone bill of $ Arrangement has been made to pay the bill on February via interbank transfer. Jan. The firm paid the webdesigner's salary for the month. Jan. An inventory count of supplies showed $ was still available Jan. Depreciation of the computer for the month is $ a Analyse the above and record all necessary entries including adjusting entries Narration is not required. b Present the trial balance of Web Solutions as of January
On January Tom Lee started a web design firm, Web Solutions WS
The following are the transactions that occur during the first month of operations.
Jan. Tom invested $ cash, and a $ computer in the firm.
Jan. Tom received $ from his best friend, Dick as a personal loan to him.
Jan. Tom invested the $ which he received from Dick as his own investment in the firm.
Jan. The firm hired a webdesigner for $ per month.
Jan. The firm paid $ cash for January and February rental and another $ for the rental deposit. The rental deposit is refundable.
Jan. The firm purchased $ of supplies on account from a supplier.
Jan. The firm billed a customer $ for a job done.
Jan.The firm received $ cash from another customer as advance payment for a job to be performed in February.
Jan.The firm received a telephone bill of $ Arrangement has been made to pay the bill on February via interbank transfer.
Jan. The firm paid the webdesigner's salary for the month.
Jan. An inventory count of supplies showed $ was still available
Jan. Depreciation of the computer for the month is $
a Analyse the above and record all necessary entries including adjusting entries Narration is not required.
b Present the trial balance of Web Solutions as of January
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You can see the logs in the Dashboard.