Question

Transaction Entries Unique Designs, a firm providing art services for advertisers, began business on June 1. The following accounts in its general ledger are needed to record the transactions for June: Cash; Accounts Receivable; Supplies Office Equipment; Accounts Payable; Common Stock; Dividends; Service Fees Earned; Rent Expense; Utilities Expense; and Salaries Expense. June 1 Emily Holmes invested 55,000 cash to begin the business, she received common stock for her investment. 2 Paid rent fer june, $375 3 Purchased office equipment on account, $2,800 6 Purchased art materials and other supplies costing $2,500; paid $900 down with the remainder due w thin 30 days 11 Billed clients for services, $4.750. 17 Collected $2,600 from clients on account. 19 paid $2,000 on account to office equipment company (see June 3 transaction 25 Emily Holmes received a $750 dividend. 20 Paid utility bill for Juns, $525. 30 Paid salanes for june, $2,750. Using the accounting equation, record each of the transactions in columnar format. Cash + Accounts Receivable + Supplies + Office Equipment = Accounts Payable + Common Stock + Retained Earnings June 13 S

Answer 1

		Cash	+	A/R	+	Supplies	+	Office	=	A/P	+	Common	+	Retained
								Equipment				Stock		Earnings
June	1	8,000										8,000
	2	-375												-375
	3							2,800		2,800
	6	-900				2,500				1600
	11			4,750										4,750
	17	2,600		-2,600
	19	-2,000								-2000
	25	-750												-750
	30	-525												-525
	30	-2750												-2750
		3,300		2150		2500		2800		2400		8,000		350
		Figures are not very clear , if required make changes