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Rhoades Tax Services began business on December 1, 2015. Its December transactions are as follows. Dec. Rhoades invested $20,000 in the business in exchange for common stock. 2 Paid $1,200 cash for December rent to Bomba Realty. 2 Purchased $1,080 of supplies on account. 3 Purchased $9,500 of office equipment; paying $4,700 cash with the balance due in 30 days. 8 Paid $1,080 cash on account for supplies purchased December 2 14 Paid $900 cash for assistant's wages for 2 weeks' work. 20 Performed consulting services for $3,000 cash 28 Paid $900 cash for assistant's wages for 2 weeks' work 30 Billed clients $7,200 for December consulting services. 31 Paid $1,800 cash for dividends. 1 GENERAL JOURNAL Date Description Debit Credit 12/311 Supplies Ex 370 $ pense Supplies 370 To record December supplies expense. 12/31 2 Wages Expense 270 Wages Payable 270 To record unpaid wages at December 31. 12/31 3 Depreciation Expense 120 Accumulated Depreciation-Office Equipment 120 To record December depreciation 12/31 4Fees Receivable 2,250 Consulting Revenue 2,250 Supplies (A) Unadj Bal 1,080 0 0 0 0 0 0 4 0 Adj Bal 0 Final Bal 0 0 Depreciation Expense Unadj Bal. 0 0 0 4 0 0 Adj Bal. 0 0 0 0 0 Final Bal. Wages Payable (L) Unadj Bal 0 0 0 0 4. 0 0 Adj Bal 0 0 0 0 Final Bal Supplies Expense Unadj Bal. 0 0 0 4 0 0 Ad Bal. 0 0 0 Final Bal. 0 0 Accounts Payable (L) Unadj. Bal 4,800 0 0 4 0 0 Adj Bal 0 0 0 0 Final Bal 0 0

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