Question

2.- Prepare the required-journal entries-in-good-format-below the following-boxof- information.---If-no-entry-is-required, make sure to note this.- 1 11 1 EVENTH DATEN TRANSACTION- 11 Jan 11 You give your business $1000 for 1000-shares in the business 201 Jan 11 Your monthly rent is $1000.--The-rent-is due on the first day of each month.-- 3 Jan 5 You-hire two personal trainers-for-$5000 each per month. The trainers-are-paid-on the last day of each month. 40 Jan-311 Company provides personal training-to-5-customers during the month. The bill to these: customers totals $ 30,000. The customers pay-in-full-on-January-31.1 5H Jan-311 Personal trainers-are-paida 66 Feb 11 Rent is due and paid 741 Feb 28H Company provides personal training-to-8-customers during the month. The total.bill.is. $35,000-and-customers pay $25,000 of these bills... Feb 28 Personal trainers are paida March 18 Rent is due and paid. H 100 March:10 The remaining $10,000-of-February training services is received-in-casha 1 86 9

Answer 1

Event	Date	Account Titles	Debit $	Credit $
1	Jan.1	Cash	1,000
		Share Capital		1,000
2	Jan.1	Rent Expense	1,000
		Cash		1,000
3	Jan.5	No Entry
4	Jan.31	Cash	30,000
		Service Revenue		30,000
5	Jan.31	Salaries Expense	10,000
		Cash ( 5,000 x 2 )		10,000
6	Feb.1	Rent Expense	1,000
		Cash		1,000
7	Feb.28	Cash	25,000
		Accounts Receivable	10,000
		Service Revenue		35,000
8	Mar.1	Rent Expense	1,000
		Cash		1,000
9	Mar.10	Cash	10,000
		Accounts Receivable		10,000