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Answer accounting questions ?
June 1st John opened a clinic .transactions completed during month follow:
A. He deposited 25,000 in bank account in the name of busniess B. Paid office rent for the month 950.00 CK.No. 1001 (rent expense) C. Bought supplies for cash 357.00, CK. No. 1002 (Supply Expense) D. Bought office equipment on account from NYC office equipment store, 8,956 E. Bought a computer from warden's office outfitters, 1,636 paying 750 in cash and No.1003 F. Sold professional services for cash, 3,482(professional fees) G. Paid an account of warden's office outfitters, a creditor, 900 Ck. No. 1004 H. Received and paid the bill of utilities, 382, Ck. No. 1005 (Utilities expenses) I. Paid the salary of the assistant, 1,050, Ck. No. 1006 (Salary Expensse) J. Sold professional Services for cash 3,295(Professional Fees) K. John withdrew cash for personal use, 1,250 Ck. No. 1007 1. Record the transaction and the balances after each transaction 2. After all transactions have been entered, enter the total assets and the totall liabilities transactions. If the two totals are not equal, first check the addition and the error, reanalyze each transaction. |
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