adjusted trial balance. 5. For the past several years, Emily Page has operated a part-time consulting business from her home. As of June 1, 2010, Emily decided to move to rented quarters and to operate the business, which was to be known as Bottom Line Consulting, on a full-time basis. Bottom Line Consulting entered into the following transactions during June: June 1. The following assets were received from Emily Page: cash, \( \$ 20,000 \); accountsreceivable, \( \$ 4,500 \); supplies, \( \$ 2,000 \); and office equipment, \( \$ 11,500 \). There were no liabilities received. 1. Paid three months' rent on a lease rental contract, \( \$ 6,000 \). 2. Paid the premiums on property and casualty insurance policies, \( \$ 2,400 \). 4. Received cash from clients as an advance payment for services to be providedand recorded it as unearned fees, \( \$ 2,700 \). 5. Purchased additional office equipment on account from Office Depot Co, \( \$ 3,500 \). 6. Received cash from clients on account, \( \$ 3,000 \), 4
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This increases the business's assets and equity. The journal entry would be: Debit: Cash $20,000 Debit: Accounts Receivable $4,500 Debit: Supplies $2,000 Debit: Office Equipment $11,500 Credit: Emily Page's Equity $38,000 June 1: The business pays rent. This Show more…
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Jill has not been able to maintain the $\$ 1,000$ minimum balance required to avoid fees on her checking account. She wants to switch to a different account with a fee of $\$ 0.20$ per check and a $\$ 12.50$ monthly maintenance fill wants to estimate the fees for her new account. Below is a summary of the checks she has written from May to August. $$\begin{array}{|c|c|}\hline & {\text { Number of }} {\text { Checks on }}\\ \text { Month } & {\text { Statement }} \\ \hline\text { May } & {14} \\ \hline \text { June } & {19} \\ \hline {\text { July }} & {23} \\ \hline{\text { August }} & {24} \\ \hline\end{array}$$ a. What is the mean number of checks Jill wrote per month during the last four months? b. Based on the mean, estimate how much Jill expects to pay in per-check fees each month after she switches to the new account. c. Estimate the total monthly fees Jill will pay each month for the new checking account.
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