contestada

Vera Ernst is a licensed dentist. During the first month of the operation of her business, the following events and transactions occurred. April 1 Invested $18,000 cash in her business. 1.Hired a secretary-receptionist at a salary of $500 per week payable monthly. 2.Paid office rent for the month $1,200.

Respuesta :

Answer and Explanation:

                                 Books of (--- ltd)

                               JOURNAL ENTRIES

Date      Account Title And Explanation            Debit   Credit

  •   Cash                               a/c Dr.              $18,000

          To Capital                      a/c                                    $18,000

          (Being capital introduce in business)

  •      There is no entry will be done for hiring Secretary

  •      Rent                                 a/c Dr.            $1,200

         To cash/bank                  a/c                                  $1,200

         (Being rent paid by check or cash)