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.)

 

Order a unique copy of this paper
(550 words)

Approximate price: $22

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

We value our customers and so we ensure that what we do is 100% original..
With us you are guaranteed of quality work done by our qualified experts.Your information and everything that you do with us is kept completely confidential.

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

The Product ordered is guaranteed to be original. Orders are checked by the most advanced anti-plagiarism software in the market to assure that the Product is 100% original. The Company has a zero tolerance policy for plagiarism.

Read more

Free-revision policy

The Free Revision policy is a courtesy service that the Company provides to help ensure Customer’s total satisfaction with the completed Order. To receive free revision the Company requires that the Customer provide the request within fourteen (14) days from the first completion date and within a period of thirty (30) days for dissertations.

Read more

Privacy policy

The Company is committed to protect the privacy of the Customer and it will never resell or share any of Customer’s personal information, including credit card data, with any third party. All the online transactions are processed through the secure and reliable online payment systems.

Read more

Fair-cooperation guarantee

By placing an order with us, you agree to the service we provide. We will endear to do all that it takes to deliver a comprehensive paper as per your requirements. We also count on your cooperation to ensure that we deliver on this mandate.

Read more

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