NetSolutions Transactions

1. On November 1 Taufik Hidayat’s was deposit $25,000 in a bank account in the name of
NetSolutions.
2. On November 5 NetSolutions bought land for $20,000, paying cash.
3. On November 10 NetSolutions purchased supplies on account for $1,350.
4. On November 18 NetSolutions receive fees of $7,500 from customers for service provided.
5. On November 30 NetSolutions incurred the following expenses: wages, $2,125; rent, $800;
utilities, 450; miscellaneous, $275.
6. On November 30 NetSolutions paid creditors on account, $950.
7. On November 30 NetSolutions recorded the amount of supplies used in the operations
during the month $800.
8. On November 30 Taufik Hidayat withdrew $2,000 in cash from NetSolutions for personal
use.
9. On December 1 NetSolutions paid a premium of $2,400 for covering liability, theft and fire.
10. On December 1 NetSolutions paid rent store space for December, $800.
11. On December 1 NetSolutions received an offer from a local retailer to rent the land
purchased on November 5. NetSolutions received $360 for three months and not to
interfere with its use.
12. On December 4 NetSolutions purchased office equipment om account from Executive Supply
Co. For $1,800.
13. On December 6 NetSolutions paid $180 for a newspaper advertisement.
14. On December 11 NetSolutions paid creditors $400.
15. On December 13 NetSolutions paid a receptionist and a part-time assistant $950 for two
weeks wages.
16. On December 16 NetSolutions receive $3,100 from fees earned for the first half of
December.
17. On December 16 NetSolutions fees earned on account totalled $ 1,750 for the first half of
December.
18. On December 20 NetSolutions paid $900 to Executive Supply Co. On the $1,800 debt owed
from the december 4 transaction.
19. On December 21 NetSolutions receive $650 from customers in payment of their account.
20. On December 23 NetSolutions paid $1,450 for supplies.
21. On December 27 NetSolutions paid the receptionist and the part-time assistant $1,200 for
two weeks wages.
22. On December 31 NetSolutions paid its $310 telephone bill for the month.
23. On December 31 NetSolutions paid its $225 electric bill for the month.
24. On December 31 NetSolutions received $2,870 from fees earned for the second half of
December.
25. On December 31 NetSolutions fees earned on account totalled $1,120 for the second half of
December.
26. On December 31 NetSolutions Taufik Hidayat withdrew $2,000 for personal use.
Adjusting
1. On December 31 the amount of supplies on hand is $760.
2.