I need this information. I need to see how it would look posted in a journal that i provide because i do not know how to input the information. I keep getting it wrong please help!!!
Business is booming for Dan Brown's home inspection business. He has been so busy the first month of business that he hasn't had tome to keep up with his bookkeeping and has asked for your help. He has provided you with the detail regarding the following transactions:
Dec 4 First week of inspections. Inspected 3 homes
Charged clients a total of $900. Received payment from all clients at time of inspection.
Dec. Fill company truck with gasoline - paid casc, $43
Dec 11 Inspected 7 homes this week, Charged clients a total of
$2,100. Received payment of $1,500, billed.
Dec 15 filled company truck with gasoline -paid cash, $43
Dec 18 Inspected 10 homes this week, charged clients a total of $3000
Received payment of $2,400, billed the rest to clients.
Dec 18 Paid $350 for office supplies.
Dec 22 Purchased additional tools on company credit card $475
Dec 25 Inspected 6 homes this week, charged clients a total of $1,800
Received payment of $600 billed the remainder to clients.
Dec 28 paid $500 on company credit card bill ($100 was interest).
Dec 30 Paid truck payment, $250 ( $85 was interest).
Dec 30 Dan withdrew $2,000 from the business for personal use.
Dec 30 Received payment from clients, $1,800.
Discuss the business's performance for the first year of operation. Had his business been successful so far? Why/why not? What can he do to improve the performance of his business?
The solution contains the Journal entries for various transactions, preparation of ledger and Trial balance