Answer:
Transactions Innovative Consulting Co.
Journal Entries:
Date Account Titles and Explanation Debit Credit
Oct. 1: 51 Rent Expense $2,500
11 Cash $2,500
Oct. 4: 52 Advertising Expense $1,000
11 Cash $1,000
Oct. 5: 13 Supplies $1,800
11 Cash $1,800
Oct. 6: 14 Office Equipment $11,500
21 Accounts payable $11,500
Oct. 12: 11 Cash $7,500
12 Accounts Receivable $7,500
Oct. 20: 21 Accounts payable $2,700
11 Cash $2,700
Oct. 27: 54 Miscellaneous Expense $700
11 Cash $700
Oct. 30: 53 Utilities Expense $475
11 Cash $475
Oct. 31: 12 Accounts Receivable $42,400
41 Fees Earned $42,400
Oct. 31: 53 Utilities Expense $900
11 Cash $900
Oct. 31: 33 Dividends $1,500
11 Cash $1,500
Explanation:
a) Data and Calculations:
Oct. 1: 51 Rent Expense $2,500 11 Cash $2,500
Oct. 4: 52 Advertising Expense $1,000 11 Cash $1,000
Oct. 5: 13 Supplies $1,800 11 Cash $1,800
Oct. 6: 14 Office Equipment $11,500 21 Accounts payable $11,500
Oct. 12: 11 Cash $7,500 12 Accounts Receivable $7,500
Oct. 20: 21 Accounts payable $2,700 11 Cash $2,700
Oct. 27: 54 Miscellaneous Expense $700 11 Cash $700
Oct. 30: 53 Utilities Expense $475 11 Cash $475
Oct. 31: 12 Accounts Receivable $42,400 41 Fees Earned $42,400
Oct. 31: 53 Utilities Expense $900 11 Cash $900
Oct. 31: 33 Dividends $1,500 11 Cash $1,500
