Dave Shurek started Hindsight Electric in February 2020. Hindsight completed the following transactions during February...
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Dave Shurek started Hindsight Electric in February 2020. Hindsight completed the following transactions during February of the current year: Feb. 1 Began a Hindsight Electric company by investing $27,000 in cash and computer equipment having a $5,000 fair value. Feb. 2 Purchased electrical tools for $1,100 on account. Feb. 4 completed hot tub electrical work for $1,900 on account Feb. 8 Completed electrical panel upgrade for $500 cash. Feb. 10 Paid for the items purchased on credit on February 2. Feb. 14 Paid $12,000 for the annual rent. Feb. 18 Received $1,900 for the work completed on February 4. Feb. 27 D. Shurek withdrew $200 cash from the practice to pay personal expenses. Feb. 28 Paid the February utility bills, $100. Feb 28 Recognized he had rented the facility for one month Prepare general journal entries to record the transactions. Include a brief description for each entry (18 marks)
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