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Spring 2020 Section 902 (1) Kaitlin Cavallo å 01/29/20 1:46 PM Homework: Chapter 2 part B homework Save < 6 of 9 (2 complete) HW Score: 22.22%, 2 of 9 pts Score: 0 of 1 pt e E2-24 (similar to) Question Help The following transactions occurred during the month for Tara Parke (Click the icon to view the transactions.) Read the remonts Requirement 1. Journalize the transactions and then post the journal entries to the four-column accounts. Keep a running balance in each account. Assume the journal entries are recorded on page 10 of the journal (Record debits first, then credits Exclude explanations from journal entries) Begin by journalizing the transactions June 1: Parkey opened an accounting firm by contributing $14,000 cash and office furniture with a fair market value of $5,200 in exchange for common stock, Prepare a compound entry Accounts Debit Credit Jun. 1 Choose from any list or enter any number in the input fields and then click Check Answer 24 parts Clear All Check Answer remaining

Answer 1

X Y 1 2 Credit ($) Debit ($) $ 14,000 $ 5,200 $ 19,200 Dvouw $ 1,300 $ 1,300 10 $ 800 11 $ 800 12 U v w Journal Entries Date Account Titles 1-Jun Cash Office Furniture Common Stock (To record the investment) 5-Jun Rent Expense Cash (To record rent expense paid) 9-Jun Office Supplies Accounts Payable (To record supplies purchased) 18-Sep Utilities Expense Utilities Payable |(To record the utilities expense) 21-Jun Accounts Payable Cash (To record cash paid to supplier) 25-Jun Accounts Receivable Service Revenue (To record the services provided) 28-Jun Dividends Cash |(To record dividends paid) $ 260 $ 260 $ 400 14 15 16 17 18 19 $ 400 $ 5,700 $ 5,700 | 22 $ 6,800 $ 6,800

A D E I J K N O 1 2 F G H Accounts Payable - 210 21-Jun $ 400 9-Jun $ L M Service Revenue - 410 25-Jun 1-Jun B C Cash - 110 $ 14,000 5-Jun 14-Jun 21-Jun 28-Jun 800 $ 5,700 $ 1,300 $ 1,600 $ 400 $ 6,800 30-Jun $ 400 30-Jun $ 5,700 m to 00 Utilities Payable - 220 18-Jun Salaries Expense - 510 $ 1,600 30-Jun $ 3.900 $ 260 14-Jun 30-Jun $ 260 30-Jun $ 1,600 Accounts Receivable - 120 25-Jun $ 5,700 9 10 11 12 Common Stock - 310 1-Jun Rent Expense - 520 $ 1,300 30-Jun $ 5,700 $19,200 5-Jun 13 30-Jun $ 19,200 30-Jun $ 1.300 Office Supplies - 130 $ 800 15 9-Jun 16 Dividends - 320 $ 6,800 Utilities Expense - 530 $ 260 30-Jun $ 800 28-Jun 18-Jun 30-Jun $ 6.800 30-Jun $ 260 20 1-Jun Office Furniture - 140 $ 5,200 21 22 30-Jun $ 5.200 23

Ə000 vu wn- lo RS Trial Balance For the month Ended June 30 Account No. Account Titles Debit ($) Credit ($) 110 Cash $ 3.900 120 Accounts Receivable $ 5,700 130 Office Supplies $ 800 140 Office Furniture $ 5,200 210 Accounts Payable $ 400 220 Utilities Payable $ 260 310 Common Stock $ 19.200 320 Dividends $ 6,800 410 Service Revenue $ 5,700 510 Salaries Expense $ 1.600 520 Rent Expense $ 1,300 530 Utilities Expense $ 260 13 17 Totals $ 25,560 $ 25,560 18

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