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Union County College ACC 103 Chapter 2 Analyzing and Recording Transactions 1. Humble Management Services opens for business and completes the following transactions in September 1. Sept 1 Henry, the owner, invests $38,000 cash along with office equipment valued at $15,000 in the company 2. The company prepaid $ 9,000 cash for 12 months' rent for office space 3. The company made credit purchases for $8,000 in office equipment and $2.400 in office supplies 8. The company completed work for a client and immediately received $10,000 cash 12. The company completed a $15,000 project for a client who must pay within 30 days 13. The company paid $ 10,400 to settle the payable created on Sept 4 19. The company paid $1,900 cash for the premium on a 18-month insurance policy 22. The company received $7,700 cash payment as a partial payment for the work completed on September 12 The company completed work for another client for $2,100 on credit 28. Henry withdrew $5,300 cash from the company for personal use 29. The company purchased $550 of additional office supplies on credit 30. The company paid $ 860 cash for this month's utility bill 24, Required: (a) Ledger Accounts b) Prepare a TB 2. Nuncio Consulting completed the following transactions during June A. Armand Nuncio, the owner, invested $35,000 cash along with office equipment valued at $11,000 in the new company B. The company purchased land valued at $7,500 and a building valued at $40,000. The purchase is paid with $15,000 cash a long-term note payable for $32,500 C. The company purchased $500 pf office supplies on credit. D. A Nuncio invested his personal automobile the company. The automobile has a value of $8,000 and is to be used exclusively in business E. The company purchased $1,200 of additional office equipment on credit. F. The company paid $1,000 cash salary to an assistant G. The company provided services to a client and collected $3,200 cash. H. The company paid $540 cash for this month's utilities The company paid $500 cash to settle the payable created in transaction. The company purchased $3,400 of new office equipment by paying $3,400 cash. k. The company completed 4,200 of services for a client, who must pay within 30 days. L The company paid $1,000 cash salary to an assistant. M. The company received $2,200 cash in partial payment on the receivable created in transaction N. A Nuncio withdrew $1,100 cash from the company for personal use. 1. Required (a) General Journal b) Ledger Accounts (c) TB

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