Hi

Can you please help me with these 3 questions?

1.   Journalize the following business transactions in general journal form. Identify each transaction by number. You may omit explanations of the transactions.

   1.    Received $50,000 from stockholders.

   2.    Purchased equipment for $75,000, paying $15,000 in cash and giving a note payable for the remainder.

   3.    Paid $3,000 rent for the month.

   4.    Recorded $12,500 of services provided on account.

1.     Prepare adjusting entries for the following transactions. Omit explanations.

1.        Depreciation on equipment is $1,340 for the accounting period.

2.        Interest owed on a loan but not paid or recorded is $275.

3.        There was no beginning balance of supplies and $550 of office supplies were purchased during the period. At the end of the period $100 of supplies were on hand.

4.        Prepaid rent had a $1,000 normal balance prior to adjustment. By year end $700 had expired.

5.        Accrued salaries at the end of the period amounted to $900.

1.      Match the statements below with the appropriate terms by entering the appropriate letter code in the spaces provided.

TERMS:

     A. Prepaid Expenses

     B.  Unearned Revenues

     C.  Accrued Revenues

     D. Accrued Expenses

STATEMENTS:

____   1.   A revenue not yet recognized; collected in advance.

____   2.   An expense incurred; not yet paid or recorded.

____   3.   A revenue recognized; not yet collected or recorded.

____   4.   An expense not yet incurred; paid in advance.