tjj2320
Mar 9, 2007, 09:27 AM
Hi I have a homework due and I don't understand this at all, can someone help me! (Urgent)
Record the following journal entries and create Ledger accounts for Cash, A/R, prepaid rent, office supplies expense, utilities expense, notes payable, Hidden Glen capital account and drawing account. Relating to Hidden Glen Partnership, an engineering firm. At the month end record the appropriate closing entries.
Hired an administrative assistant at $500 per week. This individual is paid on the 15th of each month and was hired at mid month
Paid 3 months rent of $2,000 per month in advance per the terms of the lease
Made the first installment payment on the Office Supplies, Inc note (see3rd entry)
Collected $5,000 from previous credit sales
Thank you
Record the following journal entries and create Ledger accounts for Cash, A/R, prepaid rent, office supplies expense, utilities expense, notes payable, Hidden Glen capital account and drawing account. Relating to Hidden Glen Partnership, an engineering firm. At the month end record the appropriate closing entries.
Hired an administrative assistant at $500 per week. This individual is paid on the 15th of each month and was hired at mid month
Paid 3 months rent of $2,000 per month in advance per the terms of the lease
Made the first installment payment on the Office Supplies, Inc note (see3rd entry)
Collected $5,000 from previous credit sales
Thank you