Monday, June 29, 2015

How to input an employee being hired on an accounting journal?


How to input an employee being hired on an accounting journal?
Added (1). This is a very basic account journal for my undergrad course. Here is the entry:

Oct. 1 Devin Aromashodu begins business as a real estate agent with a cash investment of $15,147.
2 Hires an administrative assistant
Added (2). This is the list of accounts I can use for my answer:

Accounts Payable
Accounts Receivable
Advertising Expense
Buildings
Cash
Equipment
Gasoline Expense
Insurance Expense
Land
Maintenance and Repairs Expense
Miscellaneous Expense
Mortgage Payable
No Entry
Notes Payable
Owner's Capital
Owner's Drawings
Prepaid Insurance
Prepaid Rent
Rent Expense
Rent Revenue
Salaries and Wages Expense
Salaries and Wages Payable
Sales Revenue
Service Revenue
Supplies
Supplies Expense
Unearned Service Revenue

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