Business
Business, 08.03.2021 19:40, tyde4209

Ken Jones, an architect, organized Jones Architects on April 1, 20Y2. During the month, Jones Architects completed the following transactions: a. Transferred cash from a personal bank account to an account to be used for the business in exchange for Common Stock, $48,200.
b. Purchased used automobile for $31,000, paying $7,200 cash and giving a note payable for the remainder.
c. Paid April rent for office and workroom, $4,800. Paid cash for supplies, $2,310.
d. Purchased office and computer equipment on account, $9,600.
e. Paid cash for annual insurance policies on automobile and equipment, $3,200.
f. Received cash from a client for plans delivered, $12,100.
g. Paid cash to creditors on account, $2,800.
h. Paid cash for miscellaneous expenses, $375.
i. Received invoice for blueprint service, due in May, $1,600.
j. Recorded fees earned on plans delivered, payment to be received in May, $8,300.
k. Paid salary of assistant, $2,600. Paid cash for miscellaneous expenses, $1,300.
l. Paid installment due on note payable, $390.
m. Paid gas, oil, and repairs on automobile for April, $630.

Required:
Record the above transactions.

answer
Answers: 1

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Ken Jones, an architect, organized Jones Architects on April 1, 20Y2. During the month, Jones Archit...

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