Question

*. (This problem is the reverse of problem 2B-2)The following general journal is taken from HAMMEL Corporation's books for August 20X (explanations are omitted): CREDIT DATE a. GENERAL JOURNAL DESCRIPTION DERIT 39.000 Common stock Cash 39,000 b. 99.000 Equipment - Accounts payable 29,000 C. Cash 1 9.000 Service revenue 19,000 d. Accounts receivable Service revenue 23.000 23.000 e. Salaries expense Cash 14.000 14.000 f. Cash 4 9.000 Note payable 49.000 g. Utilities expense Cash 2.000 2.000 h. Interest expense Cash 9.000 9,000 9,000 i Note payable Cash 13.000 13.000 Accounts payable 3.900 k Cash 2.000 Accounts receivable 2.000 1 Dividends Cash 2,000 2.000 Required: Post each of the transactions to the ledger using the T-acco s e l-account format. Be sure to label each entry with the letter listed under the date of the journal. Show the ending balance in each account assuming beginning balances were zero.

Answer 1

Answer:

Cash					Dividends
Beg. Bal.	0				Beg. Bal.	0
a.	39,000	e	14,000		l.	2,000
c.	19,000	g.	2,000
f.	49,000	h.	9,000
k.	2,000	i.	13,000
		j.	3,900
		l.	2,000
End. Bal.	65,100				End. Bal.	2,000
Accounts receivable					Service revenue
Beg. Bal.	0						Beg. Bal.	0
d.	23,000	k.	2,000				c.	19,000
							d.	23,000
End. Bal.	21,000						End. Bal.	42,000
Equipment					Salaries expense
Beg. Bal.	0				Beg. Bal.	0
b.	29,000				e	14,000
End. Bal.	29,000				End. Bal.	14,000
Accounts payable					Interest expense
		Beg. Bal.	0		Beg. Bal.	0
j.	3,900	b.	29,000		h.	9,000
		End. Bal.	25,100		End. Bal.	$9,000
Notes payable					Utilities expense
		Beg. Bal.	0		Beg. Bal.	0
i.	13,000	f.	49,000		g.	2,000
		End. Bal.	36,000		End. Bal.	$2,000
Common stock
		Beg. Bal.	0
		a.	39,000
		End. Bal.	$39,000