Question

The following transactions occurred for Worthington Technology Solutions (Click the icon to view the transactions.) Journalize the transactions of Worthington Technology Solutions. Include an explanation with each journal entry. Use the following accounts: Cash; Accounts Receivable; Office Supples: Prepaid Advertising: Land; Building; Accounts Payable; Uneamed Revenue; Worthington, Capital Service Ravenue, Rent Expenses and Salaries Expanse. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) May 1: The business received cash of $90,000 and gave capital to Zuk Worthington Date Accounts and Explanation Debit May 1 Cash Credit

Answer 1

Credit Requirement | Journal Entries Date Particulars May. 1 Cash Worthington, Capital (Being Cash received toward the Capital Contribution) Debit $ 90,000 $ 90,000 $ 600 May. 2 Office Supplies Accounts Payable (Being Office Supplies purchased on Account) $ $ 600 $ 42,000 $ 7,000 May. 4 Buildings Land Cash (Being Cash Paid for the purchase of Land & Buildings) $ 49,000 $ $ 2,500 May. 6 Cash Service Revenue (Being Cash received for the services provided) $ 2,500 $ 450 May. 9 Accounts Payable Cash (Being Cash Paid towards the Accounts Payable) $ 450 $ $ 3,000 May. 17 Accounts Receivables Service Revenue (Being services performed on Account) $ 3,000

$ $ 1,400 May. 19 Rent Expense Cash (Being Rent Expense is paid in Cash) $ 1,400 $ 1,100 May. 20 Cash Unearned Revenue (Being Cash received towards the services to be performed) $ 1,100 $ $ 300 May. 21 Prepaid Advertising Cash (Being Cash paid in advance for the Next Month advertising) $ 300 $ 2,800 May. 23 Cash Accounts Receivables (Being cash is received from the Customer) $ $ 2,800 $ $ 1,100 May. 31 Salaries Expense Cash (Being Cash is paid for the Salaries) $ $ 1,100