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Home Q & A Board Other Fields Homework Help Business Accounting
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KarenSmith KarenSmith
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7 years ago
On August 1, Katie Portia started a nail salon business, Katie's Nails. Katie's had the following transactions in the first month of business.

   August 1   Katie Portia invested $10,000 and received 10,000 shares no par common stock.
   1   Paid $1,000 for two months rent at the mall.
   2   Purchased nail supplies for $500 cash.
   4   Purchased two special salon chairs with tables for $5,000 each. Katie's paid $2,000 cash up front and the remainder was financed with a 3-year note payable at 6.5% interest.
   5   Katie's paid $250 for advertisements in the local newspaper.
   31   Katie's Nails collected $750 cash in revenue for the month.

Analyze the above transactions and journalize on the form provided.

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Date   Description   Ref   Debit   Credit
Textbook 
Survey of Accounting: Making Sense of Business

Survey of Accounting: Making Sense of Business


Edition: 1st
Author:
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suryoyosuryoyo
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7 years ago
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KarenSmith Author
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#2
7 years ago
You are my life saver lol
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7 years ago
Thanks for the feedback
Thumbs up me, please!
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