Question

Jan. 1 2 3 Sharon Matthews transferred cash from a personal bank account to an account to be used for the business, $40,000. Paid rent on office and equipment for the month, $6,000. Purchased supplies on account, $3,200. Paid creditor on account, $1,750. Earned fees, receiving cash, $18,250. Paid automobile expenses (including rental charge) for month, $1,880, and miscellaneous expenses, $420 4 5 6 7 8 Paid office salaries, $5,000. Determined that the cost of supplies used was $1,400. Withdrew cash for personal use, $2,000. 9

hey thank you can required questions 1 only

can u fill out in this format

Answer 1

Solution:

JOURNAL	ACCOUNTING EQUATION
DATE	Description	DEBIT	CREDIT	ASSETS	LIABILITY	EQUITY
JAN.1	Cash	40,000.00		40,000.00		40,000.00
	Capital		40,000.00
Jan.2	Rent	6,000.00		(6,000.00)		(6,000.00)
	Cash		6,000.00
Jan.3	Supplies	3,200.00		3,200.00	3,200.00
	Creditor		3,200.00
Jan.4	Creditor	1,750.00		(1,750.00)	(1,750.00)
	Cash		1,750.00
Jan.5	Cash	18,250.00		18,250.00		18,250.00
	Fees		18,250.00
Jan.6	Automobile Expenses	1,880.00		(2,300.00)		(2,300.00)
	Misc. Expenses	420.00
	Cash		2,300.00
Jan.7	Office Salaries	5,000.00		(5,000.00)		(5,000.00)
	Cash		5,000.00
Jan.8	Supplies Expense	1,400.00		(1,400.00)		(1,400.00)
	Supplies		1,400.00
Jan.9	Drawings	2,000.00		(2,000.00)		(2,000.00)
	Cash		2,000.00