Question

company completed the following transactions during the month of​ October:

I. Purchased office supplies on​ account, $ 4 comma 000$4,000.

II. Provided services for​ cash, $ 21 comma 000$21,000.

III. Provided services on​ account, $ 33 comma 000$33,000.

IV. Collected cash from a customer on​ account, $ 31 comma 000$31,000.

V. Paid the monthly rent of $ 4 comma 400$4,400.

What was the​ company's total revenue for the​ month?.

Answer 1

Company
Journal Enteries					Trial Balance
Trans.	Particulars	Debit in $	Credit in $		Particulars	Debit in $	Credit in $
I	Supplies a/c                                            Dr.	4000			Cash	47600
	To Accounts Payable		4000		Accounts Receivable	2000
	(Supplies on account)				Supplies	4000
					Accounts Payable		4000
II	Cash a/c                                                     Dr.	21000			Service Revenue		54000
	To Service Revenue		21000		Rent Expense	4400
	(Services provided for cash)				Totals	58000	58000
III	Accounts Receivable a/c                Dr.	33000			Statement of Income
	To Service Revenue		33000		For the period…
	(Services provided on account)				Service Revenue	54000
					Rent Expense	-4400
IV	Cash a/c                                                     Dr.	31000			Net Income	49600
	To Accounts Receivable		31000
	(Cash from debtors)
V	Rent Expense a/c                               Dr.	4400
	To Cash		4400
	(Rent paid)