Delivery Service completed the following transactions during its first month of operations for Jan. 2012.
a. Delivery Service began operations by receiving $6,000 cash and a truck valued at $11,000. The business gave delivery company capital to aquire these assets. (put truck in at value)
b.Paid $300 cash for supplies
c. Prepaid insurance, $700
d. Performed delivery services for a customer and received $800 cash
e. Completed a large delivery job billed customer 1500 and received a promise to collect the $1,500 within one week.
f. Paid employee salary $700
g. Received $12,000 cash for performing delivery services
h. Collected $600 in advance for delivery service to be performed later .
i. Collected $1,500 cash from a customer on account
j. Purchased fuel for truck paying $200 with a company credit card(credit accounts payable)
K Performed delivery services on account $900.
l. Paid office rent $600. This rent is not paid in advance.
m. Paid $200 on account.
n. owner withdrew cash of $2,100.
1. Record each transaction in journal. Key each transaction by its letter . Explanations are not required.
2. Post transactions that you recorded in Requirement a in the in T-accounts.
Unearned Service Revenue
Delivery Service, Capital
Delivery Service, Withdrawals
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