Question

Ask Expert Tutors BIU X, x² On January 1, 2019, Sharon Matthews established Tri-City Realty, which completed the following transactions during the month: Jan.1Sharon Matthews transferred cash from a personal bank account to an account to be used for the business, $40,000. 2 Paid rent on office and equipment for the month, $6,000. 3 Purchased supplies on account, $3,200. 4 Paid creditor on account, $1,750. 5Earned fees, receiving cash, $18,250. 6 Paid automobile expenses (including rental charge) for month, $1,880, and miscellaneous expenses, $420 7 Paid office salaries, $5,000. 8 Determined that the cost of supplies used was $1,400.9Withdrew cash for personal use, $2,000.Required: 1. Journalize entries for transactions Jan. 1 through 9. Refer to the Chart of Accounts for exact wording of account titles Enter a subject This helps un match you with the right tutor

please include the dates to the journal also, the journal is numbered 1-19 . the pictures might not clear enough . i will rate the anwer once its solved thanks.

Answer 1

Hi ! I can find only 9 Journal entries which I have posted in my solution. Also you have not provided chart of accounts so my description may be different but all my entries are correct so you can correct the description as per your chart of accounts. I am always available online so please put your queries in comments if any. Thanks!

Please give positive ratings so I can keep answering. It would help me a lot.

Sharon Matthews	Journal Entries					Accounting Equation
Date	Description	Post. Ref.	Debit	Credit		Assets	Liabilities	Equity
Jan 1st	Cash		40,000.00			40,000.00		40,000.00
	Sharon Matthews, Capital			40,000.00
	(Being business started with cash.)
Jan 2nd	Rent Expense		6,000.00			(6,000.00)		(6,000.00)
	Cash			6,000.00
	(Being rent on office and equipment paid for the month.)
Jan 3rd	Office Supplies		3,200.00			3,200.00	3,200.00
	Creditors			3,200.00
	(Being office supplies purchased.)
Jan 4th	Creditors		1,750.00			(1,750.00)	(1,750.00)
	Cash			1,750.00
	(Being creditors were paid on account.)
Jan 5th	Cash		18,250.00			18,250.00		18,250.00
	Fees Earned			18,250.00
	(Being Fees earned in cash.)
Jan 6th	Automobile Expense		1,880.00			(1,880.00)		(1,880.00)
	Cash			1,880.00
	(being automobile expense paid in cash.)
Jan 6th	Miscellaneous Expense		420.00			(420.00)		(420.00)
	Cash			420.00
	(being miscellaneous expense paid in cash.)
Jan 7th	Salaries Expense		5,000.00			(5,000.00)		(5,000.00)
	Cash			5,000.00
	(being office salaries paid in cash.)
Jan 8th	Office Supplies Expense		1,400.00			(1,400.00)		(1,400.00)
	Office Supplies			1,400.00
	(being office supplies used.)
Jan 9th	Sharon Matthews, Drawings		2,000.00			(2,000.00)		(2,000.00)
	Cash			2,000.00
	(being cash withdrawn for personal use.)