Posting Journal Entries Listed below are selected T-accounts and their beginning balances for Galle Inc. Required:...
-
Posting Journal Entries
Listed below are selected T-accounts and their beginning balances for Galle Inc.
Required:
Post the following journal entries to the T-accounts and compute the ending balance for each account.
Jan. 1 Cash 50,000 Notes Payable 50,000 (Record issuance of note payable) 4 Equipment 25,000 Cash 25,000 (Record purchase of equipment) 6 Rent Expense 500 Cash 500 (Record payment of rent) 15 Accounts Receivable 10,000 Service Revenue 10,000 (Record performance of services) 25 Cash 3,000 Accounts Receivable 3,000 (Record collection from customer) 30 Salaries Expense 2,500 Cash 2,500 (Record payment of salaries) Feedback
Cash Beg. Bal. 12,000 - Jan. 1
- Jan. 4
- Jan. 25
- Jan. 1
- Jan. 4
- Jan. 6
- Jan. 30
- Jan. 1
- Jan. 6
- Jan. 15
- Jan. 25
- Jan. 4
- Jan. 6
- Jan. 15
- Jan. 25
- Jan. 30
- Jan. 1
- Jan. 15
- Jan. 25
- Jan. 30
End. Bal. Accounts Receivable Beg. Bal. 6,300 - Jan. 1
- Jan. 4
- Jan. 15
- Jan. 25
- Jan. 30
- Jan. 1
- Jan. 4
- Jan. 15
- Jan. 25
- Jan. 30
End. Bal. Equipment Beg. Bal. 5,000 - Jan. 1
- Jan. 4
- Jan. 15
- Jan. 25
- Jan. 30
End. Bal. Notes Payable Beg. Bal. 0 - Jan. 1
- Jan. 4
- Jan. 15
- Jan. 25
- Jan. 30
End. Bal. Service Revenue Beg. Bal. 19,500 - Jan. 1
- Jan. 4
- Jan. 15
- Jan. 25
- Jan. 30
End. Bal. Salary Expense Beg. Bal. 5,000 - Jan. 1
- Jan. 4
- Jan. 15
- Jan. 25
- Jan. 30
End. Bal. Rent Expense Beg. Bal. 1,000 - Jan. 1
- Jan. 4
- Jan. 6
- Jan. 25
- Jan. 30
End. Bal. Feedback
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Posting Journal Entries
Listed below are selected T-accounts and their beginning
balances for Galle Inc.
Required:...
Galle Inc. entered into the following transactions during January. January 1: Borrowed $84,000 from First Street...
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Can somone please help me with the journal entries? Required information (The following information applies to...
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Required information (The following information applies to the questions displayed below.] Wally's Widget Company (WWC) incorporated near the end of 2011. Operations began in January of 2012. WWC prepares adjusting entries and financial statements at the end of each month. Balances in the accounts at the end of January are as follows: Cash $20,420 Unearned Revenue (35 units) $ 4,950 Accounts Receivable Allowance for Doubtful Accounts Inventory (40 units) $ 11,450...
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Post the unadjusted balances and adjusted entries into the
appropriate t-accounts
Required information [The following information applies to the questions displayed below.] Pastina Company sells various types of pasta to grocery chains as private label brands. The company's reporting year-end is December 31. The unadjusted trial balance as of December 31, 2021, appears below. Account Title Debits Credits Cash 32,600 41,000 2,000 61,000 Accounts receivable Supplies Inventory Notes receivable Interest receivable 21,000 Prepaid rent Prepaid insurance office equipment Accumulated depreciation...
Required information Exercise 3-22A Recording events in the general journal, posting to T-accounts, and preparing closing entries LO 3-1, 3-2, 3-3, 3-4 [The following information applies to the questions displayed below.) At the beginning of Year 2, Oak Consulting had the following normal balances in its accounts: Account Cash Accounts receivable Accounts payable Common stock Retained earnings Balance $ 42,000 25,000 8,400 24,000 34,600 The following events apply to Oak Consulting for Year 2: 1. Provided $185,000 of services on...
Required information Exercise 3-22A Recording events in the general journal, posting to T-accounts, and preparing closing entries LO 3-1, 3-2, 3-3, 3-4 [The following information applies to the questions displayed below.) At the beginning of Year 2, Oak Consulting had the following normal balances in its accounts: Account Cash Accounts receivable Accounts payable Common stock Retained earnings Balance $ 34,900 15,600 10,500 28,100 11,900 The following events apply to Oak Consulting for Year 2: 1. Provided $66,100 of services on...
Required information Exercise 3-22A Recording events in the general journal, posting to T-accounts, and preparing closing entries LO 3-1, 3-2, 3-3, 3-4 [The following information applies to the questions displayed below.) At the beginning of Year 2, Oak Consulting had the following normal balances in its accounts: Account Balance Cash $ 27,300 Accounts receivable 19,600 Accounts payable 12,800 Common stock 23,700 Retained earnings 10,400 The following events apply to Oak Consulting for Year 2: 1. Provided $67,700 of services on...
Required information C4-6 Recording/Posting Transactions and Adjustments, and Preparing Trial Balances and Financial Statements-Requires Calculating Depreciation and Interest (Chapters 2, 3, and 4) [LO 2-3, LO 3-3, LO 4. 2, LO 4-4) Fast Deliveries, Inc. (FDI), was organized in December last year and had limited activity last year. The resulting balance sheet at the beginning of the current year is provided below. $ 700 Assets: Cash Accounts Receivable Supplies $12,600 600 720 FAST DELIVERIES, INC. Balance Sheet at January 1...
Required information C4-6 Recording/Posting Transactions and Adjustments, and Preparing Trial Balances and Financial Statements-Requires Calculating Depreciation and Interest (Chapters 2, 3, and 4) (LO 2-3, LO 3-3, LO 4- 2, LO 4.4) Fast Deliveries, Inc. (FDI), was organized in December last year and had limited activity last year. The resulting balance sheet at the beginning of the current year is provided below: Assets: Cash Accounts Receivable Supplies FAST DELIVERIES, INC. Balance Sheet at January 1 Liabilities: Accounts Payable Stockholders' Equity!...
Can somone please help me with the journal entries?
Required information (The following information applies to the questions displayed below.] Wally's Widget Company (WWC) incorporated near the end of 2011. Operations began in January of 2012. WWC prepares adjusting entries and financial statements at the end of each month. Balances in the accounts at the end of January are as follows: Cash $20,420 Unearned Revenue (35 units) $ 4,950 Accounts Receivable Allowance for Doubtful Accounts Inventory (40 units) $ 11,450...
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