Grete Rodewald Formed A Dog Grooming And Training Business Called Grete Kanines On September 1 2021 After Consulting W 1 (44.35 KiB) Viewed 12 times
Grete Rodewald Formed A Dog Grooming And Training Business Called Grete Kanines On September 1 2021 After Consulting W 2 (44.35 KiB) Viewed 12 times
Grete Rodewald Formed A Dog Grooming And Training Business Called Grete Kanines On September 1 2021 After Consulting W 3 (36.66 KiB) Viewed 12 times
Grete Rodewald formed a dog grooming and training business called Grete Kanines on September 1, 2021. After consulting with a friend who had taken introductory accounting, Grete created a chart of accounts for the business as follows: No. 101 Cash; No. 112 Accounts Receivable; No. 130 Prepaid Insurance; No. 151 Equipment; No. 201 Accounts Payable; No. 209 Unearned Revenue; No. 301 G. Rodewald, Capital; No. 306 G. Rodewald, Drawings; No. 400 Service Revenue; No. 610 Advertising Expense; No. 726 Rent Expense; and No. 737 Utilities Expense. During September, the following events and transactions occurred: Sept. 1 Grete transferred $9,470 from her personal bank account to a bank account under the company name Grete Kanines. Signed a one-year rental agreement for $620 per month. Paid the first month's rent. 2 2 Paid $660 for a one-year insurance policy effective September 1, 2021. 5 Purchased $2,190 of equipment on credit. 7 Paid $400 for advertising in several community newsletters in September. 13 Collected $550 cash for providing dog grooming services. 21 Attended a dog show and provided $730 of dog grooming services for one of the major kennel owners. The kennel owner will pay the amount owing within two weeks. 24 Collected $500 from the kennel owner for the services provided on September 21. The kennel owner promised to pay
28 Paid $160 for utilities for the month of September. 29 Paid $1,040 of the amount owed from the September 5 equipment purchase. Received $815 cash for dog training lessons that will start on October 10. 30 30 Collected $915 cash for providing dog grooming services. 30 Paid the owner, Grete Rodewald, $1,205 for her personal use. A Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem.) Debit Credit Date Account Titles and Explanation
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