Reference no: EM132474479
Question 1: Journalize and post transactions; construct and use a trial balance- Olivia Matthews, Certified Public Accountant, operates as a professional corporation (P.C.). The business completed these transactions during the first part of May 2018:
Point 1: May 2 Received $12,000 cash from Matthews, and issued common stock to her.
Point 2: 2 Paid monthly office rent, $500.
Point 3: 3 Paid cash for a desktop computer, $1,800, with the computer expected to remain in service for five years.
Point 4: 4 Purchased office furniture on account, $6,000, with the furniture projected to last for five years.
Point 5: 5 Purchased supplies on account, $900.
Point 6: 9 Performed tax services for a client and received cash for the full amount of $600.
Point 7: 12 Received bill and paid utility expenses, $750.
Point 8: 18 Performed consulting services for a client on account, $3,100.
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