Question

nent CALCULATOR MESSAGE HY INSTRUCTOR FULL SCREEN PRINTER VERSION BAR Exercise 3-01 Beverly 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 $32,000 cash and equipment valued at $14,000 in the business. 2 Hired an administrative assistant at a salary of $290 per week payable monthly 3 Purchased supplies on account $700. (Debit an asset account.) 7 Paid office rent of $600 for the month. 11 Completed a tax assignment and billed dient $1,100 for services rendered. (Use Service Revenue account.) 12 Received $3,200 advance on a management consulting engagement. 17 Received cash of $2.300 for services completed for Ferengi Co. 21 Pald Insurance expense $110. 30 Paid administrative assistant $1.160 for the month 30 A count of supplies indicated that $120 of supplies had been used. 30 Purchased a new computer for $6,100 with personal funds. (The computer will be used exclusively for business purposes.) Journalize the transactions in the general journal. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no ent required, select "No entry for the account titles and enter o for the amounts. Record journal entries in the order presented in the problem.) Debit Account Titles and Explanation Date Credit 2000-2020 John Wiley & Sons, Inc. All Rights Reserved. A Division of John Wiley & Sons, Inc Policy. I earch

Answer 1

Date	Account Titles and Explanations					Debit	Credit
1-Apr	Cash					32,000
	Equipment					14,000
	Owner's capital						46,000
2-Apr	No Entry
3-Apr	Supplies					700
	Accounts payable						700
7-Apr	office rent					600
	cash						600
11-Apr	Accounts receivable					1,100
	service revenue						1,100
12-Apr	Cash					3,200
	unearned service revenue						3,200
17-Apr	Cash					2,300
	Service revenue						2,300
21-Apr	Insurance expense					110
	Cash						110
30-Apr	Wage expense					1,160
	Cash						1,160
30-Apr	Supplies expense					120
	supplies.						120
30-Apr	Equipment					6,100
	Owner's Capital						6,100