Reference no: EM132894439
Question - Elizabeth is a licensed public accountant. During the first month of operations of her business (a sole proprietorship), the following events and transactions occurred (amounts in thousands).
April 2 Invested ¥29,880 cash and equipment valued at ¥14,520 in the business.
April 2 Hired administrative assistant at a salary of ¥296 per week payable monthly.
April 3 Purchased supplies on account ¥640. (Debit an asset account.)
April 7 Paid office rent of ¥675 for the month.
April 11 Completed a tax assignment and billed client ¥986 for services rendered. (Use Service Revenue account.)
April 12 Received ¥2,838 advance on a management consulting engagement.
April 17 Received cash of ¥2,538 for services completed for Ferengi Co.
April 21 Paid insurance expense ¥106.
April 30 Paid administrative assistant ¥1,184 for the month.
April 30 A count of supplies indicated that ¥129 of supplies had been used.
April 30 Purchased a new computer for ¥5,864 with personal funds. (The computer will be used exclusively for business purposes.)
Required - Journalize the transactions in the general journal.
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