Question & Answer: a. Issued $27, 000 of QCI stock for cash. b. Incurred $890 of utilities costs this month and will pay them next month. c. Paid wages for the current month, totaling $…..

Question 2

a. Issued $27, 000 of QCI stock for cash. b. Incurred $890 of utilities costs this month and will pay them next month. c. Paid wages for the current month, totaling $1, 850. d. Performed cleaning services on account worth $3, 200. e. Some of Quick Cleaners’ equipment was repaired at a total cost of $254. The company paid the full amount at the time the repair work was done. Prepare journal entries for the above transactions, which occurred during a recent month. (If no entry is required for a transaction/event, select “No Journal Entry Required” in the first account field.) Issued $27, 000 of QCI stock for cash. Record the transaction. Determine QCI’s preliminary net income. Preliminary Net Income