Homework 1 (1)

Homework 1 (1) - 5.) Paid $29,567 in salaries to staff. 6.)...

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Cal Poly Pomona FMA 224 Financial Accounting Homework #1 DUE: Thursday, January 13, 2011 How would you enter the following Transactional information into the Accouting System? 1.) Started an accounting practice with cash investment of $58,000. 2.) Bought Office Equipment for $25,344 on account from AEC. 3.) Purchased Office Supplies of $2,500 for cash. 4.) Acquired a computer for $15,567 on account from Comp, USA
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Unformatted text preview: 5.) Paid $29,567 in salaries to staff. 6.) Received an electric bill for $1,098. 7.) Earned professional fees of $91,000, of which $34,999 was received in cash and $56,001 was owed by client - www.WhatamIdoinghere.com 8.) Paid Comp USA $15,567 on computer purchase. 9.) Paid AEC for office furniture $25,344. 10.) Received $34,175 from Client - www.Whatamidoinghere.com...
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