Question

5 E2-18 (similar to) The following transactions occurred for Wilke Technology Solutions: (Click the icon to view the transactions.) Read the requirement.(Record debits first, then credits. Select the explanation on the last line of the journal entry table.) ork z Test May 1: The business received cash of $105,000 and issued common stock to Zachary Wilke. Date Accounts and Explanation Debit May 1 Credit

Answer 1

Answer

General Journal

Date	Accounts & Explanation	Debit	Credit
May-1	Cash Dr.	$ 105,000
	To Common Stock		$ 105,000
	(To record issuance of common stock)
May 2	Office Supplies Dr.	$ 350
	To Accounts Payable		$ 350
	(To record Office supplies purchased)
May 4	Building Dr.	$ 51,000
	Land Dr. ($57,000 - $ 51,000)	$ 6,000
	To Cash		$ 57,000
	(To record Land and Building Purchase)
May 6	Cash Dr.	$ 2,000
	To Service Revenue		$2,000
	(To record Service revenue received)
May 9	Accounts Payable Dr.	$ 150
	To Cash		$ 150
	(To record amount paid off on accounts payable)
May 17	Account Receivable Dr.	$ 3,600
	To Service Revenue		$ 3,600
	(To record service provided but cash not received)
May 19	Rent Expense Dr.	$ 1,300
	To Cash		$ 1,300
	(To record Rent Paid in cash)
May 20	Cash Dr.	$ 1,400
	To Unearned Income		$ 1,400
	(To record advance received from customer)
May 21	Prepaid Advertising Expense Dr.	$ 600
	To Cash		$ 600
	(To record advertising expense paid in advance)
May 23	Cash Dr.	$ 3,000
	To Account receivable		$ 3,000
	(To record Cash received from customer)
May 31	Salary Expense Dr.	$ 1,100
	To Cash		$ 1,100
	(To record Payment of Salary in cash)