Question

Listed below are transactions for Aunita Corporation Which began Operation on January 1, 2020.  

1-1-2020         Issued common stock in exchange for $40,000 cash from investors.

1-5-2020         Purchased $400 of office supplies on account.

1-7-2020         Hired an administrative assistant at a salary of $1,000 a month.

1-12-2020       Purchased office equipment for $6,000, paying $2,500 in cash and signing a 30-day, $3,500, note.

1-15-2020       Real estate commissions billed to clients amount to $4,000.

1-19-2020       Paid $300 cash on account for office supplies purchased in transaction 2.

1-20-2020       Received a bill for $500 for advertising for the current month.

1-25-2020       Received $3,750 cash advance from a customer for services to be performed in March 2020.

1-26-2020       Paid $2,200 cash for office salaries.

1-29-2020       Paid $1,200 cash dividends to stockholders.

1-31-2020       Received a check for $3,000 in payment on account for commissions billed in 1-15-2020 transaction.

REQUIRED:

Journalize the above transactions for Aunita Corporation. You do not need to provide explanations.

Answer 1

Date	Account titles and explanation	Debit	Credit
1-1-2020	Cash	$ 40,000
	Common stock		$ 40,000
	[To record issuance of common stock]
1-5-2020	Office supplies	$ 400
	Accounts payable		$ 400
	[To record purchase of office supplies on account]
1-7-2020	No Entry
1-12-2020	Office equipment	$ 6,000
	Cash		$ 2,500
	Notes payable		$ 3,500
	[To record purchase of office equipment]
1-15-2020	Accounts receivable	$ 4,000
	Service revenue		$ 4,000
	[To record billed estate commission]
1-19-2020	Accounts payable	$ 300
	Cash		$ 300
	[To record payment for office supplies on account]
1-20-2020	Advertising expense	$ 500
	Accounts payable		$ 500
	[To record received bill for advertising]
1-25-2020	Cash	$ 3,750
	Unearned revenue		$ 3,750
	[To record cash received in advance for services performed]
1-26-2020	Salaries expense	$ 2,200
	Cash		$ 2,200
	[To record payment of cash for office salaries]
1-29-2020	Dividends	$ 1,200
	Cash		$ 1,200
	[To record payment of cash dividends]
1-31-2020	Cash	$ 3,000
	Accounts receivable		$ 3,000
	[To record received check from clients for commission]