3. Posting journals to General Ledger:
4. Balances in General ledger accounts reconciled:
Date Account Debit Credit Jan 1 2013 $ 12,000 Prepaid Rent Cash (To record payment of...
Credit Debit $ 1,240 2,100 2,400 3,100 12,500 Cash Accounts Receivable Prepaid Insurance Notes Receivable (long- term) Equipment Accumulated Depreciation Accounts Payable Salaries and Wages Payable Income Taxes Payable Unearned Revenue Common Stock Retained Earnings Dividends Sales Revenue Rent Revenue Salaries and Wages Expense Depreciation Expense Utilities Expense Insurance Expense Rent Expense Income Tax Expense $ 2,800 5,520 1,050 3,000 620 2,500 1,040 310 42,930 310 21,800 1,400 4,320 1,500 6.100 3.000 Total $59.770 $59.770 Journal entry worksheet Record the...
General Journal Debit Credit No 1 Date Jan 01, 2018 4,400 Cash Sales revenue 4,400 TOL 2 | Jan 01, 2018 2,900 Cost of goods sold Inventory 2,900 3 Jan 02, 2018 6,400 Equipment Accounts payable 6,400 1 4 | Jan 04, 2018 150 Advertising expense Accounts payable 150 T L 5 | Jan 08, 2018 5,900 Accounts receivable Sales revenue 5,900 Jan 08, 2018 3,700 Cost of goods sold Inventory 3,700 7 Jan 10, 2018 9,950 Inventory Accounts payable...
Requirement 1. Record each transaction in the journal, using the following account titles: Cash; Accounts Receivable; Office Supplies; Prepaid Insurance; Land; Building; Furniture; Accounts Payable; Utilities Payable; Notes Payable; Common Stock; Dividends; Service Revenue; Salaries Expense; Rent Expense; and Utilities Expense. Explanations are not required. (Record debits first, then credits. Exclude explanations from journal entries.) Requirement 2. The following four-column accounts have been opened: Cash, 101; Accounts Receivable, 111; Office Supplies, 121; Prepaid Insurance, 131; Land, 141; Building, 151; Furniture,...
× Penn Foster 06155200 - Graded Project (J&L Accounting, Inc) Penn Foster 06155200: Graded Project Lesson ... Penn Foster 06155200 - Graded Project (J&L Accounting, Inc) Penn Foster 06155200: Graded Project Lesson 1: Business, Accounting, and You (J&L Accounting, Inc.) PROJECT GOAL The goal of this graded project is to create the following financial statements for J & L Accounting, Inc.: - Balance sheet - Income statement - Statement of retained earnings - Post-closing trial balance The financial statements must...
Trial balance Account Titles Debit Credit Cash $ 95,430 Accounts Receivable $ 6,000 Prepaid Rent $ 25,000 Prepaid Insurance $ 2,700 Prepaid Supplies $ 120 Equipment $ 400,000 Accumulated Depreciation $ 3,250 Accounts Payable $ 970 Accrued Interest $ 1,400 Accrued Salaries $ 550 Unearned Rental Revenue $ 1,950 Notes Payable $ 350,000 Capital Stock-Mike $ 80,000 Capital Stock-Julie $ 80,000 Dividend $ 4,000 Retained Earnings $ - Rental Revenue $ 46,100 Salaries Expense $ 19,950 Rent Expense $ 5,000...
On January 1, 2021, the general ledger of Dynamite Fireworks includes the following account balances: Credit Accounts Cash Accounts Receivable Supplies Land Accounts Payable Common Stock Retained Earnings Totals Debit $ 25,200 6,600 4,500 64, eee ok $ 4,600 79,000 16,700 $100,300 $100,300 nces During January 2021, the following transactions occur January 2 Purchase rental space for one year in advance, $10,200 (5850/month). January 9 Purchase additional supplies on account, $4,900. January 13 Provide services to customers on account, $26,900....
A journal entry for a $800 payment for Prepaid Rent was erroneously recorded as a debit to Prepaid Rent for$1,000 and a credit to Cash for $800. Which of the following statements correctly states the effect of the error on the trial balance? O A. The sum of the debits will exceed the sum of the credits by $200. B. The sum of the debits will exceed the sum of the credits by $1,800. OC. The sum of the credits...
Saved Help S. Required information No Date General Jourmal Debit Credit 1 March 12 Cash 37,200 Accounts Receivable 20,800 Service Revenue 58,000 2 May 02 17,800 Cash Accounts Receivable 17,800 3 June 30 Cash 4,000 Common Stock 4.000 4 August 01 6,600 Salaries Payable Cash 6,600 5 September 25 12.800 Repairs and Maintenance Expense Cash 12,800 6 October 19 7,800 Equipment Cash 7,800 7 December 30 1,200 Dividends Cash 1,200 < Prey 2 3 4 8 of 20 Next >...
Ko? OOO O O O... > The company prepaid $7,000 cash for six months' rent for an office. (Hint: Debit Prepaid Rent for $7,000.) Note: Enter debits before credits. Date General Journal Debit Credit Journal entry worksheet < 0 2 3 0 6 6 6 .... 12 The company made credit purchases of office equipment for $4,000 and office supplies for $2,000. Payment is due within 10 days. Note: Enter debits before credits. Date General Journal Debit Credit Journal entry...
The Sky Blue Corporation has the following adjusted trial balance at December 31 Credit Debit $ 1,350 3,200 3,500 4,200 18,000 Cash Accounts Receivable Prepaid Insurance Notes Receivable (long- term) Equipment Accumulated Depreciation Accounts Payable Salaries and Wages Payable Income Taxes Payable Unearned Revenue Common Stock Retained Earnings Dividends Sales Revenue Rent Revenue Salaries and Wages Expense Depreciation Expense Utilities Expense Insurance Expense Rent Expense Income Tax Expense $ 5,000 6,620 1,600 4,100 840 3,600 1,480 420 52,830 420 24,000...