The Case of Sams Company

Prepare journal entries in the Excel Template provided for you. Be sure all dates agree with the problem and are not today’s date:

For 6/1/2015:

• Deposit $150,000 to Cash
• For the description, write: Initial deposit from owner

For 6/3/2015:

• Buys for cash furniture and equipment from Weiss for $50,000.
• For the description, write: For furniture and equipment from Weiss

For 6/10/2015:

• Deposit the amount of $40,000 from Pat B for Consulting Revenue
• For the description, write: Work completed on 6/10/15 for Pat B

For 6/20/2015:

• Pay Wans for $5,000 for purchase of supplies
• For the description, write: For purchase of supplies from Wansi

For 6/30/2015:

• Deposit the amount of $120,000 from Bill Mak for Consulting Revenue
• For the description, write: Work completed on 6/30/2015 for Bill Mak

For 6/30/2015:

• Pay #1 Employee $3,000
• For the description, write: Payroll expense to #1 Employee for month of June 2015