Please create journal entries for the following transactions. It is not necessary to include memos...
70.2K
Verified Solution
Link Copied!
Question
Accounting
Please create journal entries for the following transactions. It is not necessary to include memos (8 points). 1. 2 3 4. S 6. 7. 8. On January 2, 2020, company sells 100,000 shares of common stock for $10 each. On January 3, 2020, company buys a new Truck for $40,000, paying cash. On January 4, 2020, company buys Office Furniture for $25,000, on account. On January 5, 2020, company is paid $20,000 cash for consulting services completed. On January 6, 2020, company bills a customer $12,000 for consulting services completed. On January 31, 2020, company is paid $9,000 of the $12,000 it billed on January On January 31, 2020, company pays $15,000 of the $25,000 (A/P) it owes from January 4. On January 31, 2020, company accrues for wages payable for January of $7,000. Simple Consulting, Inc. General Journal Date Account DEBIT CREDIT Chart of Accounts Cash- Accounts Receivable Office Furniture Truck Accounts Payable Wages Payable Common Stock Consulting Fees Earned Wages Expense
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: Flex AI - Your personal assistant for all your inquiries!
