Reference no: EM133130615
Question - Robertson Consulting completed the following transactions during May 2021:
1. John Robertson, the sole proprietor, invested $10,000 cash and $12,000 office equipment in the business.
8. Purchased $600 of office supplies on credit.
17. Purchased $1,100 office equipment on credit.
19. Paid $800 salary to an assistant.
20. Provided services to a client and collected $2,700 cash.
21. Paid $430 for the month's utilities.
23. Paid account payable for the purchase made on May 8th.
26. Completed $2,400 of office services for a client. This amount is to be paid within 30 days.
27. Paid $800 salary to an assistant.
28. Received $1,000 payment on the receivable created on May 26th.
29. John Robertson withdrew $1,050 cash from the business for personal use
Required -
1. Journalize the above transactions in the General Journal.
2. Use T-accounts to show the ending balance for each account.
3. Apply the accounting equation to your account's balances.