Dolly Barton began Barton Office Services in October and during that month completed these transactions:

a. Invested $10,000 cash, and $15,000 of computer equipment.
b. Paid $500 cash for an insurance premium covering the next 12 months.
c. Completed a word processing assignment for a customer and collected $1,000 cash.
d. Paid $200 cash for office supplies.
e. Paid $2,000 for October's rent.

Prepare journal entries to record the above transactions.

Dolly Barton began Barton Office Services in October and during that month completed these transactions:

a. Invested $10,000 cash, and $15,000 of computer equipment.
b. Paid $500 cash for an insurance premium covering the next 12 months.
c. Completed a word processing assignment for a customer and collected $1,000 cash.
d. Paid $200 cash for office supplies.
e. Paid $2,000 for October's rent.

Prepare journal entries to record the above transactions.

I am sure you know the balance sheet equation:
Assets = Liabilities + Owner's Equity + Revenue - Expenses

Analyze each transaction and determine which items are afftected

You also know the rules of double entry

Category Increases Decreases
Assets Debit Credit
Liabilities Credit Debit
Owner's Equity Credit Debit
Revenue Credit Debit
Expenses Debit Credit

I am sure you can solve the problem yourself.

Best wishes

I am sure you know the balance sheet equation:
Assets = Liabilities + Owner's Equity + Revenue - Expenses

Analyze each transaction and determine which items are afftected

You also know the rules of double entry

Category Increases Decreases
Assets Debit Credit
Liabilities Credit Debit
Owner's Equity Credit Debit
Revenue Credit Debit
Expenses Debit Credit

I am sure you can solve the problem yourself.

Best wishes[/QUOTE]