Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. the following transactions occurred for marys cons

The following transactions occurred for Marys Consulting in the companys first month January, 2018...

70.2K

Verified Solution

Question

Accounting

The following transactions occurred for Marys Consulting in the companys first month January, 2018 record journal entries for each transaction.

January 1 - Mary deposited $2,000 into the companys bank account in exchange she received 100 common shares in the company.

January 5 - The company purchased $500 of office furniture on account. Payment is due on February 5.

January 8 - The company did consulting work for a client. Billed $3,000. Received half of the money, with the other half due in one week.

January 10 - Paid employees wages of $200.

January 13 - Collected the amount due from January 8

January 15 - Paid the bill from January 5.

Answer & Explanation Solved by verified expert
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: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

PC Shopping Network may upgrade its modem pool. It last upgraded 2 years ago, when it...

Finance
Q

After diluting 30 ml of 0.100M NH4OH(Kb=1.75x10-5) to 100 ml, the solution is titrated with 0.100...

Chemistry
Q

What are the contexts for business and professional excellence? Why is it important to study communication? Why must...

Psychology
Q

• What is an example of groupthink from your own life or experience? How did it...

Psychology
Q

EVALUATE Independent Practice bas sale S Ele Learning Goal Lesson Reflection Circle I can explain...

Geometry
Q

12 Show that the vectors 1 2 6 3 2 1 and 7 10 9...

Geometry
Q

As shown below polygon ABCGFED consists of two squares ABCD and CGFE and an equilateral...

Geometry
Q

For the right triangle find the missing quantity indicated below the figure a Do not...

Algebra
Q

questions # 4,5,6, & 7 Use the following information...

Accounting
Q

Challenger Factory produces two similar products: regular widgets and deluxe widgets. The total factory overhead...

Accounting
Q

Exercise 11-13A (Static) Prepare an income statement using the contribution margin approach LO 11-3 ...

Accounting
Q

Shadee Corporation expects to sell 570 sun shades in May and 400 in June. Each...

Accounting