Question

In the response box below, provide the required general journal entries. Each entry requires a date and an explanation. Nov 1 Dale Mitchell, the owner, invested $56,000 cash and office equipment with a fair market value of $32,000 in the business. Nov 1 Prepaid $18,000 cash for three months' rent for an office. Nov 6 Make credit purchases of office equipment for $9,000. Nov 8 Completed accounting services and received $4,000 cash. Nov 10 Completed accounting services and sent a bill to the client for $5,000 Nov 12 Dale withdrew $2,000 from the business for personal use. Nov 15 Paid $1,500 of wages to his only assistant Nov 18 Paid $1,000 for repairs to the photocopier. Nov 20 Paid the account payable from the purchase on November 6. Nov 30 Collected $4,000 from the customer from November 10. Nov 30 Received the November telephone bill for $400 in the mail This will be paid on December 10.

Answer 1

Ano Journal Entries - Dr. $ 56000 $ 32000 $88000 & 18000 To Cash $ le 3 month Di & 9000 lash Office Equipment To Owner's Equity LOwneg invested Cash & Equipment) Nor I Prepaid Expenses (Bring prefaid office rent for Nor 6 Purchase To Creditors (Being glass Equipment on Loredit) Nor & Lash fr 완 (Belys Busuling Service prosillo de los Nor le Client / Debter To Acugunting Services ar to Client & bill sent) $ 9000 & yooo $ 4000 To Accounting Services & 85000 & 5000 Services provide Norld Drawing Coch & 2000 $ 2000 (Being Cash Withdroud by Owner for Pefand use)

CUTE Noris Wages $ 1500 To Cash Qr $ 1500 To Cash (Being Wrzes paid to assistant) Nor 18 Repairs & Maintinences Dr & 1000 & 1000 (Being Lock paid jos. Detalopes sepsis) Ner 20 Creditors De $ 9000 To Cash lr $ 9000 (pas cher on there to Creditors) Nor 30 Cash ar $ 5000 To Clicnt Debtors a & 5000 (Bling Cash recived for services provided to client) Nor 30 Expense Dr & 400 To Telefhone Bill $ 400

NOTE :- It is assume that all the transaction done on the cash and firm don't have bank account.