Question

7 of 7 (4 complete) Score: 0.01 of 1 pt %E2-21A (book/static) Willis Construction, Inc., completed the following transactions during June 2018, its first month of operations: (Click the icon to view the transactions.) Read the requirements. LUTUT SEUL Jun 3: Paid monthly office rent, $1,300. Journal Entry Date Accounts Debit Credit Jun

Answer 1

follows: journal entries are as Date Account Debit (6) Credit (8) Tyhe 2 cash 10000 To common stode 10,000 - 3 1300 office Rent To cash 13oo 6 2800 8 isoo Equipment 2800 - To cash office furniture TO A ccount payable Supplies 600 To account payable, isoo " 600 19 2,300 Account Receivable To service Revenue | 2300 20 Utility expenses Тъ (ash 145 1145 1800 cash acc. To Service Revenue 1800

② T-account is as follows - cash To commanstook 19000 by office Rent roservice Revenue 1800 by Equipment by utility supenses 11,800 by balance cla Account Receivable 1300 12800 145 (7555) to service Revenue 2300 by balanceeld 2300 2300 12300 Account payable to balance old by office furniture 2,100 by supplies 2100 Service Revenue 1500 600 2100 B to balance old 4100 by Account Receivable 2,300 by cash 1800 4,100 4100 Equipment To cash 12800 by balance cld 3800 Ifice Rent 12800 18000 To cash Roo 13.00 by balanceold 11.300 common stock B To balance CH 10,000 by comman cash 10000 10 OO 1oooo

office furniture To accogut payable To Tisoo by balance eld ti soo 1300 600 TO Account рачаb supplies 16oo hy belanceld. — 600 Whility expenses 145 by balance ald Goo TO Cash I 145

Trial Balance, at june 30 2018 Roo 10,000 cash 7555 Service Revenue Account Receivable 2200 Account payable Equipment 2, 800 office rent 1300 common stock office furniture isoo suplies utility expenses 145 16,200 1 16,200 1 In come statment for the month ending 30 June 2018 4100 Service Revenue less operating expensee office Rent otility expenses operating profit/ Net Income Boo 145 445 2,655 o statment of Retained Earning i s Retained Earning at begining - 2655 Net Income Retained Earning at end 2655 Clearance meet, as at 30th June 2018 liabilities. I & Assets & [current liablubes current Assets 7,555 Account payable 2,100 cash supplies. stock holders Equity Account Receivable 2300 common stock 10,000 fixed Assete Retained Earning / 2655 Equipment 2800 office forniture I 14,755 134,75 1500