[yusefkh]

Could someone tell me how do I record these transactions:

a. Brooke Winston invested $75.000 cash, office equipments with a value of $6.000, and $25.000 of computer equipments in the company in exchange for a common stock.

b. Purchased land worth $27.500 for an office by paying $5.000 cash and signing a long-term note payable for the balance.

c. Purchased a portable biulding with $30.000 cash and moved it onto the land acwuired in b.

d. Paid $7.500 cash for the premium on a three-year insurance policy.

e. Provided services to a client and collected $5.400 cash.

f. Purchased $5.000 of additional computer equipment by paying $2.500 cash and signing a long-term note payable for the balance due.

g. Completed $5.250 of services for a client on credit.

h. Purchased $1.000 of additional office equipments from Yukon Office on credit.

I. Complete services for Johnason and Company for $10.200 on credit.

j. received a bill for $650 for rent of a piece of computer equipment used on a recently completed job. The bill is to be paid within 30 days.

k. Received $5.100 from Johanson and Company for work completed in transaction I.

l. Semi-monthly payroll totaled $2.000 and was paid in cash.

m. Paid $1.000 to Yukon Office supply for office equipment purchased in transaction h.

n. Paid $750 for minor repairs on computer equipment.

o. Paid $1.800 cash for advertising.

p. Semi-monthly payroll totaled $2.000 and was paid in cash.

q. Paid $5.000 for dividens.


Using the following T-Accounts:

cash - accounts receivable - Prepaid Insurance - Office Equipments - Computer Equipments - building - land - Accounts Payable - Long-term notes payable - Common stocks - Retained earnings - Fees Earnings - Wages expenses - Computer rental Expenses - Advertising Expenses - Repairs Expense.

Or maybe explain something. Thanks!!

[ROLCAM]

The exercise falls into two parts:-

1) Knowledge of writing Journal Entries.

2) Knowledge of posting the Journal Entries
On what you term T accounts.

Have a go at BOTH!
Let us see what you can do.