Entries work sheet 1 - Entries 1 2 3 4 5 6 7 8 9 10 11 12...

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Entries 1. Owner invests $1,000 cash 2. Obtains loan from bank for $5,000. 3. Purchased supplies for $2,000, paid cash. 4. Received $3,000 cash from customer for 3 jobs to be performed in future. (Fee for each job is $1,000) 5. Owner withdrew $500 for personal use. 6. Performed a job for a fee of $700. Customer paid in cash. 7. Performed job for customer for a fee of $900. Customer will pay next month. 8. Paid employees wages of $1,500. 9. Completed one job for customer in #4 above. 10. Supplies on hand at the end of the month are $800. 11. Rich exterminated a house and billed and collected $100 cash. 12. Rich exterminated a house and billed but did not collect its fee of $150. 13. Rich paid his employees salaries of $200. 14. Rich exterminated two of the three houses contracted for in October. 15. Unused supplies on hand at this date had an original cost of $1,500. 16. Net Solutions paid $20,000 for the purchase of land as a future building site. 17. Net Solutions purchased supplies for $1,350 and agreed to pay the supplier in the near future. 18. Net Solutions paid creditors on account, $950 19. The cost of supplies on hand at the end of the period was $550. 20.
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This note was uploaded on 06/06/2011 for the course ACC 231 taught by Professor - during the Fall '10 term at Sam Houston State University.

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Entries work sheet 1 - Entries 1 2 3 4 5 6 7 8 9 10 11 12...

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