Problem 2-3a santa ana services was formed on may 1, 2014. the

Problem 2-3A

Santa Ana Services was formed on May 1, 2014. The following transactions took place during the first month.

Transactions on May 1:

1.   Don Humes invested $40,700 cash in the company, as its sole owner.
2.   Hired two employees to work in the warehouse. They will each be paid a salary of $2,560 per month.
3.   Signed a 2-year rental agreement on a warehouse; paid $23,000 cash in advance for the first year.
4.   Purchased furniture and equipment costing $30,140. A cash payment of $10,800 was made immediately; the remainder will be paid in 6 months.
5.   Paid $1,810 cash for a one-year insurance policy on the furniture and equipment.
6.   Purchased basic office supplies for $590 cash.
7.   Purchased more office supplies for $1,460 on account.
8.   Total revenues earned were $19,340—$8,040 cash and $11,300 on account.
9.   Paid $420 to suppliers for accounts payable due.
10.   Received $3,060 from customers in payment of accounts receivable.
11.   Received utility bills in the amount of $360, to be paid next month.
12.   Paid the monthly salaries of the two employees, totalling $5,120.

 

Prepare journal entries to record each of the events listed. (Record entries in the order displayed in the problem statement. If no entry is required, select “No entry” for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

 







Calculate Your Essay Price
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more

Order your essay today and save 10% with the coupon code: best10