Prepare the journal entries in the general journal format for SDD’s transactions using appropriate acoiunt numbers....
* Prepare the appropriate journal entries associated with the below transactions. Transactions during January 2020: 1. On January 1, 2020, the owner of ACC invested $10,000.00 cash in the company. 2. An invoice was received from ACC's insurance provider on January 15, 2020, for casualty insurance coverage in the amount of $2,400.00 for the period January 1, through December 31, 2020. 3. Employees earned salary and wages in January of $6,500.00 which was paid on February 1, 2020. 4. The...
Record January transactions in the General Journal and post to the General Ledger. • Record adjusting entries for January in the General Journal and post to the General Ledger . • Prepare the adjusted trial balance as of January 31 - Record January transactions in the General Journal and post to the General Ledger. • Record adjusting entries for January in the General Journal and post to the General Ledger . • Prepare the adjusted trial balance as of...
QUESTION 1 Required: #1. Prepare journal entries to record the December transactions in the General Journal Tab in the excel template file "Accounting Cycle Excel Template.xlsx". Use the following accounts as appropriate: Cash, Accounts Receivable, Supplies, Prepaid Insurance, Equipment, Accumulated Depreciation, Accounts Payable, Wages Payable, Common Stock, Retained Earnings, Dividends, Service Revenue, Depreciation Expense, Wages Expense, Supplies Expense, Rent Expense, and Insurance Expense. 1-Dec Began business by depositing $10000 in a bank account in the name of the company in...
Use the provided partial chart of accounts to prepare the general journal entries in the space provided below for the following transactions. Chart of Accounts • Cash • Accounts Receivable • Allowance for Doubtful Accounts Notes Receivable • Interest Receivable Office Equipment • Machinery • Accumulated Depreciation • Accounts Payable • Interest Payable Common Stock • Retained Earnings Sales • Interest Revenue • Bad Debt Expense • Depreciation Expense • Insurance Expense • Interest Expense • Gain on Sale of...
Required: Prepare the adjusting journal entries that were recorded at December 31, 2021 The general ledger of the Karlin Company, a consulting company, at January 1.2021. contained the account balances: Account Title Debits Credits 30,000 15,000 20,000 Cash Accounts receivable Equipment Accumulated depreciation Salaries payable Common stock Retained earnings Total 6,000 9,000 40,500 9.500 65,000 65,000 The following is a su u sactions for the year: a. Service revenue, S u ch 50,000 was on account and the balance was...
Q2- Prepare the journal entries to record these transactions: A. At the beginning of the year Mohammed, Inc. issued an amount of shares of 5 par value stock for 30 per share. (Provide an amount of the stock issued)? B. On December 1st, Mohammed's, Inc. declared a 5 per share cash dividend, for an amount of common shares outstanding (Provide an amount of the common shares). The dividend will be paid on December 31 to stockholders of record on December...
Prepare journal entries on the General Journal of Stone Inc. for the following transactions. Notes: Read carefully and follow strictly so that Bb can grade you correctly! 1. Just write down the account title and numbers for each transaction (use comma in numbers, one thousand is 1,000, not 1000. NO $ sign). e.g. Cash 1,000 Sales 1,000 2. Always Dr. first, then Cr. 2. Use and copy accurately only the following account names (not case sensitive): Cash, Acc/Rec, Notes/Rec, Acc/Payable, Notes/Payable, Equipment,...
Use the provided partial chart of accounts to prepare the general journal entries in the space provided below for the following transactions. Chart of Accounts • Cash Accounts Receivable • Allowance for Doubtful Accounts Notes Receivable Interest Receivable Office Equipment • Machinery • Accumulated Depreciation • Accounts Payable • Interest Payable Common Stock • Retained Earnings • Sales Interest Revenue • Bad Debt Expense • Depreciation Expense • Insurance Expense • Interest Expense • Gain on Sale of Asset •...
Prepare general journal entries to record these transactions. (2pts each) Post the journal entries from to the ledger accounts (2pts ea) Prepare a trial balance (5pts) Prepare the 3 financial statements (15pts). Chapter 2: Practice Exercise #3: At the beginning of April, Vanessa Williams launched a custom computer solutions company called Softworks. The company had the following transactions during April. a) Vanessa Williams invested $155,000 cash, office equipment with a value of $5,100, and $78,000 of computer equipment in the...
Prepare the necessary journal entries for the above transactions; if a journal entry is not required explain why. Jan The owners, Brad & Jennifer, each put up $250,000 cash as an initial investment into the company. 2 Purchased a pizza oven for $22,000. 3 Purchased inventory from Sysco Company on account for $21,000. 4 Hired five employees to begin work on Feb 15; the salaries for each employee will be set at $12/hour and they are each expected to work...