Diana Mark is the president of TempEmp, Inc., a company that provides temporary employees for not-for-profit companies. TempEmp has been operating for five years; its revenues have increased each year. You have been hired to help Diana in analyzing the following transactions for the first two weeks of April 2017: For each of the transactions, prepare journal entries. April2Purchased office supplies for $500 on account.April5Billed the local United Way office $1,950 for temporaryservices provided.April8Paid $250 for supplies purchased and recorded on account lastperiod.April8Placed an advertisement in the local paper for $400 cash.April9Purchased new equipment for the office costing $2,300cash.April10Paid employee wages of $1,200, which were incurred inApril.April11Received $1,000 on account from the local United Way office,billed on April 5.April12Purchased land as the site of a future office for $10,000; paid$2,000 down and signed a note payable for the balance.April13Issued 2,000 additional shares for $40 per share inanticipation of building a new office.April14Billed Family & Children’s Services $2,000 for servicesrendered this month.April15Received the April telephone bill for $245 to be paid nextmonth.
Diana Mark is the president of TempEmp, Inc., a company that provides
Diana Mark is the president of TempEmp, Inc., a company that provides temporary employees for not-for-profit companies. TempEmp has been operating for five years; its revenues have increased each year. You have been hired to help Diana in analyzing the following transactions for the first two weeks of April 2017: For each of the transactions, prepare journal entries. April2Purchased office supplies for $500 on account.April5Billed the local United Way office $1,950 for temporaryservices provided.April8Paid $250 for supplies purchased and recorded on account lastperiod.April8Placed an advertisement in the local paper for $400 cash.April9Purchased new equipment for the office costing $2,300cash.April10Paid employee wages of $1,200, which were incurred inApril.April11Received $1,000 on account from the local United Way office,billed on April 5.April12Purchased land as the site of a future office for $10,000; paid$2,000 down and signed a note payable for the balance.April13Issued 2,000 additional shares for $40 per share inanticipation of building a new office.April14Billed Family & Children’s Services $2,000 for servicesrendered this month.April15Received the April telephone bill for $245 to be paid nextmonth.
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