Problem 2-2A (Part Level Submission) Julia Dumars is a licensed CPA. During the

Question

Problem 2-2A (Part Level Submission) Julia Dumars is a licensed CPA. During the first month of operations of her business, Metlock, Inc., the following events and transactions occurred May 1 Stockholders invested $21,000 cash in exchange for common stock. 2 Hired a secretary-receptionist at a salary of $3,000 per month. 3 Purchased $2,200 of supplies on account from Vincent Supply Company 7 Paid office rent of $890 cash for the month. 11 Completed a tax assignment and billed client $2,900 far services performed. 12 Received $3,400 advance on a management consulting engagement. 17 Received cash of $1,000 for services performed for Orville Co. 31 Paid secretary-receptionist $3,000 salary for the month. 31 Paid 40% of balance due vincent Supply Company. Julia Dumars uses the following chart of accounts: No. 101 Cash, No. 112 Accounts Receivable, No. 126 Supplies, No. 201 Accounts Payable, No. 209 Unearned Service Revenue, No. 311 Common Stock, No. 400 Service Revenue, No. 726 Salaries and Wages Expense, and No. 729 Rent Expense.

Explanation / Answer

Please add 1-2 problems each time

2-2-A Journal entries 01-May Cash 21000            Common stock 21000 02-May No entry 03-May Supplies 2200             Accounts payable 2200 07-May Rent expense 890            Cash 890 11-May Accounts receivable 2900           Service revenue 2900 12-May Cash 3400          Unearned service revenue 3400 17-May Cash 1000           Service revenue 1000 31-May Salaries and wages expense 3000             Cash 3000 31-May Accounts payable 880 (2200*40%)             Cash 880 2-4 01-Oct Cash 22400           Common stock 22400 02-Oct No entry 03-Oct Furniture 2000            Accounts payable 2000 06-Oct Accounts receivable 3650            Service revenue 3650 27-Oct Accounts payable 1350           Cash 1350 30-Oct Salaries and wages expense 2450              Cash 2450

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