Question

Dorothy Crusher is a licensed CPA. During the first month of operations of her business (a sole proprietorship), the following events and transactions occurred.

April   2		Invested $35,840 cash and equipment valued at $16,180 in the business.
2		Hired an administrative assistant at a salary of $250 per week payable monthly.
3		Purchased supplies on account $641. (Debit an asset account.)
7		Paid office rent of $711 for the month.
11		Completed a tax assignment and billed client $1,093 for services rendered. (Use Service Revenue account.)
12		Received $3,807 advance on a management consulting engagement.
17		Received cash of $2,739 for services completed for Ferengi Co.
21		Paid insurance expense $110.
30		Paid administrative assistant $1,000 for the month.
30		A count of supplies indicated that $102 of supplies had been used.
30		Purchased a new computer for $5,794 with personal funds. (The computer will be used exclusively for business purposes.)

Answer 1

Solutiom Aprz Cash 2. 35840 Caulpment ownsi's capital 16180 5२०2-0 Apr2 No entry Supplies Accounts payeble Apr 3 641 641 Rent experse Apr7 cash Accounts recesvabte Apr 11 lo93 Service Revenue 1093 cash Apr12 3807 Uneann ed Sevice Revenue 3807 Apr17 cash २न3१ Service Revenue २न१ Inourance experse/prepaed exp Aps 21 110 Cash 10 wages experse Apr 30 looo Cash tooD Apr30 Supplues expensed "Supplees l02 equipment owners Copital Apr30 5494 5a94