Question
In: Accounting
3. Analyze and Journalize the following entries; On June 1, 2012 Sam Near created a travel...
3. Analyze and Journalize the following entries; On June 1, 2012 Sam Near created a travel agency called Tours-For-Less. These activities occurred during the company’s first month:
|
June |
1 |
Near created the new company by investing $40,000 cash and computer equipment worth $60,000. |
|
2 |
The company rented furnished office space by paying $3,200 rent for the first month. |
|
|
3 |
The company purchased $2,400 of office supplies for cash. |
|
|
10 |
The company paid $7,200 for the premium on a one-year insurance policy. |
|
|
14 |
The owner’s assistant was paid $3,600 for two weeks’ salary. |
|
|
24 |
The company collected $13,600 of commissions from airlines on tickets obtained for customers. |
|
|
28 |
The assistant was paid another $3,600for two weeks’ salary. |
|
|
29 |
The company paid the month’s $3,500 phone bill. |
|
|
30 |
The company paid $700 cash to repair its computer. |
|
|
30 |
The owner withdrew $2,850 cash from the business. |
Solutions
ekkarill92 answered 1 year agoRelated Solutions
3-6 On April 1, 2017, Jiro Nozomi created a new travel agency, Adventure Travel. The following...
3-6
On April 1, 2017, Jiro Nozomi created a new travel agency,
Adventure Travel. The following transactions occurred during the
company’s first month.
April
1
Nozomi invested
$34,000 cash and computer equipment worth $25,000 in the company in
exchange for common stock.
2
The company rented
furnished office space by paying $2,000 cash for the first month’s
(April) rent.
3
The company
purchased $1,400 of office supplies for cash.
10
The company paid
$2,300 cash for the premium on a...
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On April 1, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred...
On April 1, Jiro Nozomi created a new travel agency, Adventure
Travel. The following transactions occurred during the company’s
first month.
April
1
Nozomi invested
$41,000 cash and computer equipment worth $35,000 in the company in
exchange for common stock.
2
The company rented
furnished office space by paying $2,700 cash for the first month’s
(April) rent.
3
The company
purchased $1,500 of office supplies for cash.
10
The company paid
$2,300 cash for the premium on a 12-month insurance...
On April 1, 2017, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions...
On April 1, 2017, Jiro Nozomi created a new travel agency,
Adventure Travel. The following transactions occurred during the
company’s first month.
April
1
Nozomi invested $40,000 cash and computer equipment worth
$30,000 in the company.
2
The company rented furnished office space by paying $2,700 cash
for the first month’s (April) rent.
3
The company purchased $1,700 of office supplies for cash.
10
The company paid $2,300 cash for the premium on a 12-month
insurance policy. Coverage begins on...
On April 1, 2017, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions...
On April 1, 2017, Jiro Nozomi created a new travel agency,
Adventure Travel. The following transactions occurred during the
company’s first month.
April
1
Nozomi invested $40,000 cash and computer equipment worth
$30,000 in the company.
2
The company rented furnished office space by paying $2,700 cash
for the first month’s (April) rent.
3
The company purchased $1,700 of office supplies for cash.
10
The company paid $2,300 cash for the premium on a 12-month
insurance policy. Coverage begins on...
On April 1, 2017, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions...
On April 1, 2017, Jiro Nozomi created a new travel agency,
Adventure Travel. The following transactions occurred during the
company’s first month.
April
1
Nozomi invested $40,000 cash and computer equipment worth
$30,000 in the company.
2
The company rented furnished office space by paying $2,700 cash
for the first month’s (April) rent.
3
The company purchased $1,700 of office supplies for cash.
10
The company paid $2,300 cash for the premium on a 12-month
insurance policy. Coverage begins on...
On April 1, 2017, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions...
On April 1, 2017, Jiro Nozomi created a new travel agency,
Adventure Travel. The following transactions occurred during the
company’s first month.
April 1 Nozomi invested $39,000 cash and computer equipment
worth $35,000 in the company in exchange for common stock. 2 The
company rented furnished office space by paying $1,800 cash for the
first month’s (April) rent. 3 The company purchased $1,000 of
office supplies for cash. 10 The company paid $2,400 cash for the
premium on a 12-month...
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