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: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Assignment (1). In a city 25% of the people reads punch newspaper, 20% reads guidance. newspaper, 13%...

Basic Math
Q

You are evaluating a product for your company. You estimate the sales price of product to...

Finance
Q

Maggie bought 20 shares of Google at the close price of 472 68 She bought...

Geometry
Q

Which of the following functions are one to one

Calculus
Q

In summarizing the results the researchers in the article state Ambush predators were less likely...

Calculus
Q

Change to radical form 7 3 C 7 3 Type an exact answer using radicals...

Algebra
Q

5 Explain why 3x 2 4 1 has no real solution

Algebra
Q

Services are not considered property for the purposes of an IRC Section 351 transfer a...

Accounting
Q

According to SFAS No. 34, interest on self-constructed assets should be capitalized." Team 2: Criticize...

Accounting
Q

Wright Co., reedit acciones propias que haba adquirido a 10 dlares por accin en una...

Accounting
Q

I need help with journel entries, Part 1: Payroll Journal Entries Obtain the...

Accounting
Q

Ramort Company reports the following cost data for its single product. The company regularly sells...

Accounting