Movies are expensive to produce and market. Apr. DLite Dry Cleaners is owned and operated by Joel Palk. Recorded cash from cash clients for fees earned for the period May 26-31, 3,300. 1.Instead of continuing to share office space with a local real estate agency, Peyton decided to rent office space near a local music store. Ming Chen (the owner) completed these transactions. 21. Paid gas, oil, and repairs on automobile for April, 550. b. 24. 00. on the Business environment in China. Purchased used automobile for 19,500, paying 2,500 cash and giving a note payable for the remainder. Enter the impact of each transaction on individual items of the accounting equation. Journal entries and trial balance On November 1, 20Y9, Lexi Martin established an interior decorating business, Heritage Designs. 2. d. Purchased office and computer equipment on account, 9,000. e. Paid cash for supplies, 2,150. f. Paid cash for annual insurance policies, 4,000. g. Received cash from client for plans delivered, 12,200. h. Paid cash for miscellaneous expenses, 815. i. 10,000 On July 1, Lula Plume created a new self-storage business, Safe Storage, A:Journal is the recording of financial transactions, which is considered as the first step in, Q:On April 1, Jiro Nozomi created a new travel agency, Adventure Travel. Unadjusted Trial Balance is the trial balance before making adjustments., Q:he accountant for the firm owned by Randy Guttery prepares financial statements at the end of each. I can help you with creating a presentation of one slide for The Word of William Hunter. ol + The account headings are presented below. April. 3. Determine the net income or net loss for April. 9. g. The company paid an assistant $3,000 cash as wages for the month. The entire assets of an organization are equal to the sum of its liabilities, Q:Kristin Holden started her own consulting business in July, 20--. During the month, Jones, A:T accounts: screenshot-2021-03-08-115558_4866312038864060041.jpg, Didn't find what you are looking for? A:a)Indicate the effect of the given transactions. %D The Gram Company, A:Accounting Principal is based on the fundamental principle of accounting which is the sum of assets, Q:Edgar Detoya, tax consultant, began his practice on Dec. 1, 2014. b. 3. Expenses Brooke completed the following transactions during the month of August: a. During June, Ming Chen (the owner) completed these transactions: a. Received cash from customers on account, 88,000. k. Determined that the cost of supplies on hand was 5,900; therefore, the cost of supplies used during the month was 3,600. l. Withdrew 12,000 cash for personal use. a. Wallace deposited 24,000 in a bank account in the name of the business. e. The company completed work for a client and sent a bill for $8,000 to be received within 30 days. 3.Post the journal to the ledger, extending the account balance to the appropriate balance column after each posting. Total the left side of the accounting equation (left side of the equal sign), then total the right side of the accounting equation (right side of the equal sign). 2. He completed the following transactions during June: a. 1003. i. Ming Chen began a professional practice on June 1 and plans to prepare financial statements at the end of each month During June, Ming Chen (the owner) completed these transactions. b. g. The company paid an assistant $\$3,000$ cash as wages for the month. Determine the increase or decrease in owners equity for August. 3. ezto.mheducation.com G. Received the electricity bill. During the first month, the, A:The accounting equation refers to an equation that equates the total assets with the sum of total, Q:Prepare the following below) Ms. Smith established an enterprise to be known as New york Designs, on, A:Journal entry: If there is, Q:Business transactions completed by Hannah Venedict during the month of September are as follows. 0. First let me introduce myself, my name is XX, 23 years old, and David is my English name. 1,500 Simple Accounting equation is. Amount of total expenses recorded in the ledger. Received 1,000 for serving as a disc jockey for a party. 4. During the month, Lexi completed the following transactions related to the business: Nov. 1. Lexi transferred cash from a personal bank account to an account to be used for the business in exchange for common stock, 50,000. 8.000 Issued common stock to Marjorie Knaus in, A:Step 1 g. Paid interest on the note payable, $500. The entire assets of an organization are equal to the sum of its liabilities, A:Income Statement - d. Does the activity add value to Latchey’s provision of insurance services? Received 3,000 for serving as a disc jockey for a party. 60,000 Kindly repost the question to get, A:Trial balance: It is the statement prepared at the end of the year to close all the accounts. Record the adjusting entries on Page 7 of the journal. g. Paid interest on the note payable, $500. a. A:Trial balance is the record of all the balances of all the ledgers accounts with the final debit and, Q:Aracel Engineering completed the following transactions in the month of June. J. Bal During June, Q:Duerr Engineering completed the following transactions in the month of June. 29.Paid miscellaneous expenses, 540. Paid January rent for office and workroom, 1,950. c. Purchased used automobile for 28,500, paying 5,700 cash and giving a note payable for the remainder. 61,000 1. Determine the amount of Joel Palks capital as of July 1 of the current year. In addition, $28,000 of computer rental costs were incurred and paid. Paid miscellaneous expenses, 1,000. The following information is provided for the first month of operations for Legal Services Inc.: A. Bal. 31.Withdrew 1,250 cash from PS Music for personal use. 29. The company paid $1,500 cash for rent of office space for the month. 1,500 Prepare T accounts, using the account titles in (1). Find answers to questions asked by students like you. Purchased office supplies on account, 1,800. c. Received cash from fees earned for managing rental property, 10,000. d. Paid rent on office and equipment for the month, 4,500. e. Paid creditors on account, 1,250. f. Billed customers for fees earned for managing rental property, 16,800. g. Paid automobile expenses (including rental charges) for the month, 750, and miscellaneous expenses, 980. h. Paid office salaries, 4,000. i. Ming Chen began a professional practice on June 1 and plans to prepare financial statements at the end of each month.During June, Ming Chen (the owner) completed these transactions:a. If there is. 8,000 He, Q:On July 1, Lula Plume created a new self-storage business, Safe Storage Co. Paid an attorney 900 for reviewing the July 3 contract with KXMD. d. Paid rent on office and equipnwnt for the month, $5,000. Any additional hours beyond SO will be billed to KXMD at 40 per hour. 0. Opened a business hank account in the name of Stanley Insurance Inc., with a deposit of $60000 in exchange for common stock. Received 2,000 for serving as a disc jockey for a wedding reception. During June, Ming Chen (the owner) completed these transactions: a. Owner invested S60,000 cash in the company along with equipment that had a $15,000 market value. 10,000 Paid dividends, $3,000. 0.33 Received 750, with the remainder due August 4, 2019. 31. 1000. c. Bought office supplies for cash, 375, Ck. Q:On January 1, 2019, Sharon Matthews established Tri-City Realty, which completed the following, A:As the question has more than 3 sub-parts, the first 3 subparts are answered. Instead of continuing to share office space with a local real estate agency, Peyton decided to rent office space near a local music: store. 3. a retained earnings statement and a classified balance sheet for the year ended December 31, 2019. Post your journal entries to T-accounts, Add additional T-accounts when needed. a. Journal entry is an accounting entry to record every transaction takes place, Q:On June 1 of the current year, Pamela Schatz established a business to manage rental property. (Optional) Enter the unadjusted trial balance on an end-of-period spreadsheet and complete the spreadsheet. Ming Chen began a professional practice on June 1 and plans to prepare financial statements at the end of each month. The, A:An accounting equation refers to a mathematical representation of the transactions. (e) Paid phone bill, 65. Bal. 1,500 2. 58,500 8.000 The contract requires PS Music to provide a guest disc jockey for 80 hours per month for a monthly fee of 3,600. . 30. 4. Any additional hours beyond 80 will be billed to KXMD at 40 per hour. $15,000 30.Served as a disc jockey for a charity ball for 1,500. 10 000 Discuss how REA diagrams might be useful to auditors in understanding a client's business Concept of Cost Behavior Dapper Hat Makers is in the business of designing and producing Income Statement for a Manufacturing Organization Using the following information from Char Carter Containers sold marketable securities, land, and common stock for $30 million, $15 One of your departments cost accounts is the Maintenance ExpenseGarden Equipment account. Ken Jones, an architect, opened an office on April 1, 2016. 11 Cash 12 Accounts Receivable 13 Supplies 14 Prepaid Insurance 16 Equipment 18 Truck 21 Notes Payable 22 Accounts Payable 31 Common Stock 33 Dividends 41 Fees Earned 51 Wages Expense 53 Rent Expense 54 Utilities Expense 55 Truck Expense 59 Miscellaneous Expense 2. a. Paid cash for a newspaper advertisement. c. Paid April rent for office and workroom, 3,150. d. Paid cash for supplies, 1,450. e. Purchased office and computer equipment on account, 6,500. f. Paid cash for annual insurance policies on automobile and equipment, 2,400. g. Received cash from a client for plans delivered, 12,000. h. Paid cash to creditors on account, 1,800. i. Record these transactions directly in the following T accounts without journalizing: Cash; Accounts Receivable; Supplies; Prepaid Insurance; Automobiles; Equipment; Accounts Payable; Notes Payable; Ken Jones, Capital; Professional Fees; Rent Expense; Salary Expense; Blueprint Expense; Automobile Expense; Miscellaneous Expense. c. Both credit card and debit card transaction fees are limited by law. c. The company purchased $10,000 of additional equipment on credit (payment due within 30 days). During the month, he completed the following transactions connected with his professional practice: a. Payable In accordance with the contract, Peyton received 7,200 from KXMD as an advance payment for the first two months. Ming Chen began a professional practice on June 1 and plans to prepare financial statements at the end of each month. Explanations may be omitted. e. Is it a budgeted or an actual cost in your report? Gutierrez Company, a publicly held corporation, operates a, Budgeting for a Single Product: Prepare an unadjusted trial balance as of July 31, 2019. Prav b. 8.Paid for a newspaper advertisement, 200. d. The company completed work for a client and immediately collected the $2,500 cash earned. During June, Ming Chen (the owner) completed these transactions. 2.1.4P, Your question is solved by a Subject Matter Expert. 23. The general manager is responsible for the day-to-day operati.. Budgeting for a Single Product: In this activity, you will be creating budgets for a single product for each of the months in an upcoming quarter. %24 minus sign.) 1. 4. 500. c. Bought catering equipment on account from Luigis Equipment, 3,795. d. Paid the rent for the month, 1,255, Ck. 7,500 Good morning, teachers, I am honored to be informed to have this interview. Indicate the effect of each transaction and the balances after each transaction, using the following tabular headings: 2. Received 1,000 cash from customers on account. The following transactions, A:Journal Entries: (Enter decreases to account balances with a Median response time is 34 minutes for paid subscribers and may be longer for promotional offers. 7,500 Recorded services provided on account for the remainder of May, 2,650. $4 Paid rent for July, 1,750. Record these transactions directly in the following T accounts, without journalizing: Cash; Accounts Receivable; Supplies; Prepaid Insurance; Automobiles; Equipment; Accounts Payable; Notes Payable; Connie Young, Capital; Professional Fees; Salary Expense; Blueprint Expense; Rent Expense; Automobile Expense; Miscellaneous Expense. 9. ASSETS 2023. i. D. An office worker was hired. 31. 7,500 3. Receivable 61. Cash Billed insurance companies for sales commissions earned, 12,500. j. Ming Chen began a professional practice on June 1 and plans to prepare financial statements at the end of each month. Assets Paid installment due on note payable, 950. k. Received invoice for blueprint service, due in February, 3,750. l. Recorded fees earned on plans delivered, payment to be received in February, 21,900. m. Paid salary of assistants, 4,100. n. Paid gas, oil, and repairs on automobile for January, 1,300. During June, Ming Chen (the owner) completed these transactions. No. the firm are, A:Income statement If you want the answer, Q:Architects completed the following transactions: Ming Chen began a professional practice on June 1 and plans to prepare financial statements at the end of each month. During, Q:Amy Austin established an insurance agency on March 1 of the current year and completed the, A:Accounting Equation: b. 25,000 0. 7.500 I will provide you super quality work according to your given requirements and deadline with ZERO plagiarism. The worker will be paid $275 per week. Prepare an income statement for August, a statement of stockholders equity for August, and a balance sheet as of August 31. a. $30000. (Continued) Required: 1. d. Neither credit card nor debit .. Budgeting issues at the movies: Movies are expensive to produce and market. Ming Chen began a professional practice on June 1 and plans to prepare financial statements at the end of each month. %24 g. The company paid an , Ming chen began a professional practice on june 1, Lena holden began a professional practice, Relationship between professional practices and scholarly ethics, Dynamics in nursing art and science of professional practice. 22.Paid 800 to a local radio station to advertise the services of PS Music twice daily for the remainder of July. 25. If you still cannot find the error, re-analyze each transaction. Received 500, with the remainder due on August 9, 2019. 7.500 i. One of your department’s cost accounts is the Maintenance Expense–Garden Equipment account. 3.On behalf of PS Music, Peyton signed a contract with a local radio station, KXMD, to provide guest spots for the next three months. 13. 30. Ming Chen began a professional practice on June 1 and plans to prepare financial statements at the end of each month. 3. d. The company completed work for a client and immediately collected the $2,500 cash earned. Owner invested $59,000 cash in the company along with equipment that had a $13,000 market value in exchange for its common stock. Journal entry should have, Q:On June 1 of the current year, Chad Wilson established a business to manage rental property. Owner invested $60,000 cash in the company along with equipment that had a $26,000 market value in exchange for its common stock. Please resubmit the question and, Q:Jared Hawk established an insurance agency on July 1 of the current year and A:The financial statements of the business include the income statement and balance sheet of the firm. He. Accounting Equation is calculated using following equation - The contract requires PS Music to provide a guest disc jockey for SO hours per month for a monthly fee of 3,600. 13.Paid 700 to a local audio electronics store for rental of digital recording equipment. Paid dividends, $3,000. No. 1.500 11. Is it a product or a period cost? 3. Revenue Determine the following: a. Paid dividends, 2,500. h. Borrowed $100,000 by issuing a note payable. + ACCOUNTS RECEIVABLE + b. A Wages of $379,000 were paid in cash. Total the left side of the accounting equation (left side of the equal sign), then total the right side of the accounting equation (right side of the equal sign). b. If the two totals are not equal, check the addition and subtraction. Recorded services provided on account for the period May 16-20, 4,820. 2,500 %3D 10,000 No. 3. Introduction: we will be answering you first three subparts, Q:On 1 March, David Tan established David Interior Designs. According to IMD, the most expensive film on record is Pirates of the Caribbean: On Stranger Tides, with a total budget of $378 .5 million.11 This movie and its budget were w.. Ethics and budgetary slack: Gutierrez Company, a publicly held corporation, operates a regional chain of large drugstores. Paid 250 to creditors on account. a. Owner invested $60,000 cash in the company along with equipment that had a $15,000 market value. 10,000 1006. 1001. d. Bought office equipment on account from Dellos Computers, 6,300. e. Received a bill from the City Crier for advertising, 455. f. Sold services for cash, 3,944. g. Paid on account to Dellos Computers, 1,500, Ck. I am a Professional Writer with over 5 years of experience, therefore, I can easily do this job. Post the journal entries to these accounts, placing the appropriate letter to the left of each amount to identify the transactions. g. The company paid an assistant $3,000 cash as wages for the month. a. Gervais deposited 25,000 in a bank account in the name of the business. %3D Prepare an unadjusted trial balance as of August 31, 2016. 2023 White PaPer. Equity c. Is it a variable or a fixed cost? Please resubmit the question, Q:Beverly Crusher is a licensed CPA. Accounting Equation - Purchased supplies on account, 2,750. c. Paid creditor on account, 1,800. d. Earned sales commissions, receiving cash, 52,800. e. Paid rent on office and equipment for the month, 4,500. f. Paid dividends, 3,000. g. Paid automobile expenses for month, 1,100, and miscellaneous expenses, 1,200. h. Paid office salaries, 5,250. i. Opened a business bank account with a deposit of 35,000 in exchange for common stock. Journalize each transaction in a two-column journal beginning on Page 1, referring to the following chart of accounts in selecting the accounts to be debited and credited. Owner Invested $59,000 cash in the company along with equipment that had a $16,000 market value in exchange for its common stock. March transactions are as follows : c. Received cash from fees earned. Instructions 1. 2. %3D (Do not insert the account numbers in the journal at this time.) 27. Advertising expense of $26,000 was incurred and paid. Saved During June, Ming Chen (the owner) completed these transactions. j. (j) Withdrew cash for personal use, 100. c. Received cash from fees earned. Purchased used automobile for 19,500, paying 2,500 cash and giving a note payable for the remainder. completed the following, A:"Since you have posted a question with multiple sub-parts, we will solve only first three sub-parts, Q:Comprehensive Problem Set the following transactions, A:Post-closing trial balance: The post-closing trial balance is a summary of all ledger accounts, and, Q:On September 1 of the current year, Joy Tucker established a business to manage rental property. i. Bal. During the first month of a. State the assets, liabilities, and owners equity as of July 1 in equation form similar to that shown in Exhibit 5. Instructions 1. Hello. Since your question has multiple sub-parts, we will solve first three sub-parts for, Q:Saif is a licensed CPA (Accounting and Auditing Firm). Create the following table similar to the one in Exhibit 1.9. How much did Junes transactions increase or decrease Chad Wilsons capital? 10.000 c. The company purchased $10,000 of additional equipment on credit (payment due within 30 days). Purchased a truck for 38,500 paying 5,000 cash and giving a note payable for the remainder. The accounting cycle for Kelly Consulting for April, including financial statements, was illustrated in this chapter. Paid part-time receptionist for two weeks salary including the amount owed on April 30, 750. completed the following, A:"Since you have posted a question with multiple sub-parts, we will solve only first three sub-parts, Q:The following transactions were carried out during the month of May by M.SAJJAD Help Extend the balances to the appropriate balance columns after each transaction is posted. Analyze each transaction, Journalize as appropriate. The business, Q:Connie Young, an architect, opened an office on October 1, 20Y4. A:Journal: 25.000 Required 1. Hi, Hope you are doing well. i. %24 Transactions and Financial statements Les Stanley established an insurance agency on July 1, 20Y5, and completed the following transactions during July: a. Determine account balances of the T accounts. Prepare and post the closing entries. Owner invested $60,000 cash in the company along with equipment that had a $15,000 market value in exchange for its common stock. a. Q:Jay Crowley established Affordable Realty, which completed the following transactions during the. 4. 2.Analyze and journalize each transaction in a two-column journal beginning on Page 1, omitting journal entry explanations. 9. h. . %24 2. Do you need an answer to a question different from the above? 75,000 Only debit card transaction fees are limited by law. C. Provided services in the amount of $1,000. Amount of total expenses recorded in the ledger. Instuction Indicate the effect of each transaction and the balances after each transaction, using the integrated financial statement framework. h. The company collected $5,000 cash as a partial payment for the amount owed by the client in transaction e Paid 1,400 royalties (music expense) to National Music Clearing for use of various artists' music during July. property. Owner invested \$60,000 $60,000 cash in the company along with equipment that had a \$15,000 $15,000 market value. Insurance expired during May is 275. b. Cash d. The company completed work for a client and immediately collected the $ 2, 500 \$2,500 $2, 500 cash earned.. Owner Invested $68,000 cash in the company along with equipment that had a $29,000 market value. b. b. We will pay the $110 in thirty days. Analyze and use these data to complete parts (5) and (6). I can do this easily because I have several experiences to write articles on different web sites, creative content for several blogs & also SEO writing. 505. m. Paid the salary of the assistant, 1,150, Ck. 23.Served as disc jockey for a party for 2,500. To the left of each amount entered in the accounts, place the appropriate letter to identify the transaction. 4. a The company paid an assistant $3.000 cash as wages for the month, Century 21 Accounting Multicolumn Journal. Owner invested $60,000 cash in the company along with equipment that had a $15,000 market value in exchange for its common stock. Ming Chen began a professional practice on June 1 and plans to prepare financial statements at the end of each month. Journal entry is an accounting entry to record every transaction takes place, A:A trial balance's main function is to confirm that the entries in a firm's accounting system are, Q:XYZ Company began operations on April 1 and completed these transactions during the month: 5. Prepare an unadjusted trial balance. Start your trial now! B. 3. %24, Carl Warren, James M. Reeve, Jonathan Duchac. Accounts containing a single entry only (such as Prepaid Insurance) do not need a balance. Received cash from clients on account, 2,450. No. Ming Chen began a professional practice on June 1 and. Determine account balances of the T accounts. Record the following transactions on Page 6 of the journal: 20. No. Determine the account balances after all posting is complete. 8.000 Save & Exit The policy covers a one-year period. I am a Ph.D. writer with more than 9 years of working experience in Writing. 0. Post the journal to a ledger of four-column accounts, inserting appropriate posting references as each item is posted. 2,500 24 Post the journal to the ledger, extending the account balance to the appropriate balance column after each posting. b. C. The company purchased $10,000 of additional equipment on credit (payment due within 30 days). No. There are some items that has Impact on Equity like Income, Expense and, Q:Following are the transactions for Valdez Services. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, Problem 2-62B Comprehensive Problem Mulberry Services sells electronic data processing services to firms too Email to own their own computing equipment. J. h. Purchased land as a future building site, paying cash of $120,000. e. The company completed work for a client and sent a bill for $8,000 to be received within 30 days. (b) Paid office rent, 500. 27.Paid electric bill, 915. Received invoice for blueprint service, due in May, 2,500. k. Recorded fees earned on plans delivered, payment to be received in May, 15,650. l. Paid salary of assistant, 2,800. m. Paid cash for miscellaneous expenses, 200. n. Paid installment due on note payable, 300. o. Next (Hint: Verify the equality of the debit and credit balances in the ledger before proceeding with the next instruction.) 2. Amount of total revenue recorded in the ledger. 2,500 502. f. Sold catering services for cash for the first half of the month, 3,012. g. Bought supplies for cash, 185, Ck. 5. a. Owner invested $60,000 cash in the company along with equipment that had a $15,000 market value. A building and equipment are currently being rented, pending expansion to new facilities. Accounts containing a single entry only (such as Prepaid Insurance) do not need a balance. 15. Bal. Greco resort opened for business on june 1. Correct answers: 1 question: A loan of $400,000 is taken out which requires an annual interest payment of 4.4% of the borrowed amount of money (in market dollars). Prepare the necessary journal entries to record these transactions. Introduce your . Print Transferred cash from a personal bank account to an account to be used for the business, 36,000. b. 28. Mulberry paid the interest payable of $8,000. If an entry is not required for any of these transactions, state this and explain why. Before this, no other, Q:ournalize entries for transactions (a) through (I) using the following account titles: cash,, Q:ita Lopez started Biz Consulting, a new business, and completed the following transactions during, A:Journal entries refers to recording of business transactions into the books of the business or, Q:On April 1 of the current year, Morgan Jones established a business to manage rental property. 61,000 (c) Purchased office equipment. She, A:An accounting Equation is an Equation that shows assets are always equal of the liabilities of a, Q:Jared Hawk established an insurance agency on July 1 of the current year and completed the following, A:Note: Since we only answer up to 3 sub-parts, well answer the first 3. Dividends Equipment A statement of changes in Equity d. Purchased office and computer equipment on account, 4,500. e. Paid cash for supplies, 1,875. f. Paid cash for annual insurance policies, 3,600. g. Received cash from client for plans delivered, 13,650. h. Paid cash for miscellaneous expenses, 2,600. i. The prepaid rent at the beginning of the year was used in 2019. Determine the excess of revenues over expenses for November. I have all relevant skills and expertise related to your project. 11. Bal. The policy covers a one-year period. The company paid $1,500 cash for rent of office space for the month. Determine account balances of the T accounts. What basic steps would the auditor perform to compile the information necessary to build he diagram himself or herself? Ming Chen began a professional practice on June 1 and plans to prepare financial statements at the end of each month. Owner invested $60,000 cash in the company along with equipment that had a $15,000 market value. Show new balances after each transaction. Any, Q:Saif is a licensed CPA (Accounting and Auditing Firm). d. Paid rent on office and equipnwnt for the month, $5,000. a. Owner invested $60,000 cash in the company along with equipment that had a $15,000 market value in exchange for its common Instructions 1. Invested cash, Q:On June 1 of the current year, Pamela Schatz established a business to manage rental property. Introduce yourself. Expenses Prepare an unadjusted trial balance for Connie Young, Architect, as of October 31, 2019. d. The company completed work for a client and immediately collected the $2,500 cash earned. (Enter decreases to account balances with a e. The company completed work for a client and sent a bill for $8,000 to be received within 30 days. Determine the increase or decrease in owners equity for January. 8. 1004. j. February 20, 2023. Income Statement is the statement which shows the revenue earned and expenses, Q:Kristin Holden started her own consulting business in July, 20--. EQUITY + d. The company completed work for a client and immediately collected the $2,500 cash earned. 4. Paid Office Station Co. for part of the debt incurred on April 5, 640. (Note: Ignore the date because these events are aggregations of individual events.) Paid rent on office and equipment for the month, 3,250. c. Purchased supplies on account, 2,150. d. Paid creditor on account, 875. e. Earned sales commissions, receiving cash, 14,440. f. Paid automobile expenses (including rental charge) for month, 1,580, and miscellaneous expenses, 650. g. Paid office salaries, 3,000. h. Determined that the cost of supplies used was 1,300. i. Paid wages of employees, 6,800. 4. 2. Withdrew l,250 cash from PS Music for personal use. %24 The chart of accounts for Kelly Consulting is shown in Exhibit 9, and the post-closing trial balance as of April 30, 2016, is shown in Exhibit 17.
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