Discuss problem about transaction analysis company

Assignment Help Accounting Basics

Reference no: EM131779931

Question: (Transaction Analysis Company) Beverly Crusher is a licensed CPA. During the first month of operations of her business (a sloe proprietorship), the following events and transactions occured.

April 2 Invested $32,000 cash and equipment valued at $14,000 in the business

2. Hired a secretary-receptionist at a salary of $290 per week payable monthly.

3. Purchased supplies on account $700. (Debit an asset account)

7. Paid office rent of $600 for the month.

11. Completed a tax assignment and billed client $1,100 for services rendered. (Use Service Revenue account.)

12. Received $3,200 advance on a management consulting engagement.

17. Received cash $2,300 for services completed for Ferengi co.

21. Paid insurance expense $110

30. Paid secretary-receptionist $1,160 for the month

30. A count of supplies indicated that $120 of supplies had been used

30. Purchase a new computer for $6,100 with personal funds. The computer will be used exclusively for business purpose.)

Reference no: EM131779931

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