The Pet Sitters,Inc

question 152

Essay

The Pet Sitters,Inc.entered into the following transactions during the month of January.
A.Purchased supplies for $5,000 cash.
B.Paid $4,480 for salaries and wages for the month of January.
C.Paid $480 in advance for February rent.
D.Provided $12,000 in services on account.
E.Paid $800 on accounts payable.
F.Received $210 from customers as deposits for future pet sitting services.
G.Received a bill for $1,500 from the plumber who repaired a broken pipe in the restrooms,but will not pay the bill until February.
H.Purchased equipment for cash of $780.
Required:
Prepare journal entries to record the transactions identified among activities (A)through (H).

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Definitions:

Transform Fault

A strike-slip fault that accommodates the horizontal movement of one tectonic plate past another.

Mid-Atlantic Ridge

An underwater ridge located in the Atlantic Ocean, forming a divergent tectonic plate boundary that separates the Eurasian and North American plates in the north and the African and South American plates in the south.

Seafloor Spreading

A geologic process in which tectonic plates move apart from each other, allowing magma to rise and solidify as new oceanic crust.

Volcanic Mountain Belt

A volcanic mountain belt refers to a large-scale geographic area dominated by a series of volcanoes, often associated with plate boundaries, where subduction, rifting, or hotspots activities facilitate magma ascent to the surface.