Desiree Clark is a licensed CPA. During the fi rst month of
operations of her business,
the following events and transactions occurred.
May 1 Clark invested $20,000 cash in her business.
2 Hired a secretary-receptionist at a salary of $2,000 per
month.
3 Purchased $2,500 of supplies on account from Read Supply
Company.
7 Paid offi ce rent of $900 cash for the month.
11 Completed a tax assignment and billed client $3,200 for services
provided.
12 Received $3,500 advance on a management consulting
engagement.
17 Received cash of $1,200 for services completed for C. Desmond
Co.
31 Paid secretary-receptionist $2,000 salary for the month.
31 Paid 60% of balance due Read Supply Company.
Desiree uses the following chart of accounts: No. 101 Cash, No. 112
Accounts Receivable, No. 126
Supplies, No. 201 Accounts Payable, No. 209 Unearned Service
Revenue, No. 301 Owner’s Capital,
No. 400 Service Revenue, No. 726 Salaries and Wages Expense, and
No. 729 Rent Expense.
Instructions
(a) Journalize the transactions.
what is the answer
Solution:-
(a) Journalize the transactions:-
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