Question

Saved Wk 3 - Apply: Connect Exercise (due Mon) Selected activity of Mason Consulting Services follow. 13.33 points DATE TRANSACTIONS 2019 Sept. 1 Zack Mason invested $43, eee in cash to start the firm. 4 Purchased office equipment for $4,800 on credit from Den, Inc.; received Invoice 9823, payable in 30 days. 16 Purchased an automobile that will be used to visit clients; issued Check 1001 for $12,800 in full payment. 20 Purchased supplies for $350; paid immediately with Check 1802. 23 Returned damaged supplies for a cash refund of $85. 30 Issued Check 1003 for $2,500 to Den, Inc., as payment on account for Invoice 9823. 30 Withdrew $1,300 in cash for personal expenses. 30 Issued Check 1004 for $850 to pay the rent for September. 30 Performed services for $3,100 in cash. 30 Paid $350 for monthly telephone bill, Check 1005. Prepare journal entries for the transactions incurred during September of 2019. View transaction list Journal entry worksheet < 1 2 3 4 5 6 7 8 9 10 > Zack Mason invested $43,000 in cash to start the firm.

Answer 1

Journal Entries:

Date	Account Titles and Explanation	Debit	Credit
Sep. 1, 2019	Cash	$43,000
	Common Stock		$43,000
	(To record cash invested in to the business)
Sep. 4, 2019	Office Equipment	$4,800
	Accounts Payable - Den		$4,800
	(To record the purchase of equipment on credit)
Sep. 16, 2019	Auto Mobile	$12,800
	Cash		$12,800
	(To record the purchase of auto mobile)
Sep. 20, 2019	Supplies	$350
	Cash		$350
	(To record the purchase of supplies by cash)
Sep. 23, 2019	Cash	$85
	Supplies		$85
	(To record the return of damaged supplied for cash)
Sep. 30, 2019	Accounts Payable - Den	$2,500
	Cash		$2,500
	(To record the payment made for credit purchase)
Sep. 30, 2019	Drawings	$1,300
	Cash		$1,300
	(To record the cash withdrew for personal use)
Sep. 30, 2019	Rent Expense	$850
	Cash		$850
	(To record the payment of rent)
Sep. 30, 2019	Cash	$3,100
	Service Revenue		$3,100
	(To record the services provided for cash)
Sep. 30, 2019	Telephone Expenses	$350
	Cash		$350
	(To record the payment of telephone expenses)