clara is hired by an accounting firm to prepare audit reports. identify the market through which the transaction took place.
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Clara is providing a service (preparing audit reports) to an accounting firm. Show more…
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On June 1, 2017, Carl Kluber started his CPA firm, Carl Kluber, CPA Inc. The firm is a service company but also sells proprietary tax software, along with hardware, that has been very successful and is used by many CPAs. The following transactions occurred during the company's first month. Carl Kluber, CPA Inc. uses a perpetual inventory system.
Akash M.
Directions: Record the transactions of Jinky Estrada for December 2018 in the general journal. Post each transaction to their corresponding ledger accounts. Use the following account code for posting reference. Write your answers on a columnar paper. Account Titles 101 Cash 102 Accounts Receivable 103 Office Furniture 104 Office Equipment 201 Accounts Payable 301 Estrada, Capital 401 Consulting Revenues 501 Salaries Expense 502 Rent Expense Jinky Estrada is an experienced event planner. Her transactions for December 2018 are: Dec. 1 Jinky invested P100,000 in cash to start her own business. 1. She paid 5,000 for one month's rent. 2. She bought office furniture for P15,000 in cash. 4 She received a laptop computer worth P54,000. She paid 50% down for it with a balance due in 30 days. 24 She performed services for P12,000 in cash. 25 She did services for P11,000 on credit. 9 She acquired a fax machine for P8,500; paid P4,000 in cash, balance due in 10 days. 11 She received P5,400 from clients on account. 14 She paid P12,000 for salaries. 15 She settled in full the balance for the fax machine.
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