Reference no: EM133102464
Question - Assume that for several years Kelly Pitney has operated a part-time consulting business from her home. As of April 1, 2016, Kelly decided to move to rented quarters and to operate the business on a full-time basis. The business will be known as Kelly Consulting. During April, Kelly Consulting entered into the following transactions:
4/1 The following assets were received from Kelly Pitney: cash $13,100; accounts receivable $3,000; supplies $1,400; and office equipment $12,500. There were no liabilities received.
4/1 Paid three months' rent on a lease rental contract, $4,800
4/2 Paid in advance the premiums on property and casualty insurance policies, $1,800
4/4 Received cash from clients as an advance payment for services to be provided $5,000
4/5 Purchased additional office equipment on account from Office Station Co $2,000
4/6 Received cash from clients on account $1,800
4/10 Paid cash for a newspaper advertisement $120
4/12 Paid Office Station Co for part of the debt incurred on April 5, $1,200
4/12 Recorded services provided on account for the period April 1 - 12, $4,200
4/14 Paid part-time receptionist for two weeks' salary, $750
4/17 Recorded cash from cash clients for services during the period April 1 - 16 $6,250
4/18 Paid cash for supplies $800
4/20 Recorded services provided on account for the period April 13 - 20 $2,100
4/24 Recorded cash from cash clients for services for the period April 17 - 24 $3,850
4/26 Received cash from clients on account $5,600
4/27 Paid part-time receptionist for two weeks' salary $750
4/29 Paid telephone bill for April $130
4/30 Paid electricity bill for April $200
4/30 Recorded cash from cash clients for services for the period April 25 - 30 $3,050
4/30 Recorded services provided on account for the remainder of April $1,500
4/30 Kelly withdrew $6,000 for personal use
Required - Record the transactions in the General Journal.
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