Transactions and Journal Entries Are Shown Below

question 76

Essay

Transactions and journal entries are shown below.Read the transaction and determine if the correct journal entry
has been made.If a correction is necessary,prepare a correcting entry.
$\begin{array}{llll}a.&\text { Emma Fox, the owner, invested } \$ 47,000 \text { cash. }\\\\&\text { Equipment }& 47,000 \\&\text { Emma Fox, Capital } && 47,000 \\\\b.& \text { Fox paid wages of } \$ 2,600 & \\\\&\text { Wages Expense } & 2,600\\&\text { Wages Payable }& & 2,600 \\\\c. &\text { Fox paid the monthly utility bill, \( \$ 375 \).}\\\\&\text { Supplies}&375\\&\text { Cash}&&375\\\\e. &\text {Services were provided to a client on account, \( \$ 700 \).}\\\\&\text {Accounts Payable}&700\\&\text {Service Fees}&&700\end{array}$

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Definitions:

Hostility

Feelings of intense anger or aggression towards others, which can manifest in antagonistic actions or thoughts.

Health Risk

The probability of suffering harm from any cause, typically expressed in terms of physical or psychological health.

Psychosocial Factors

Elements that involve both psychological and social aspects, affecting mental health and wellbeing, including interpersonal relationships and coping strategies.

Physical Disease

Any condition that causes the body's systems to not function properly, often leading to symptoms and health challenges.