No | Date | General Journal | Debit | Credit |
1 | May-01 | Cash | 81000 | |
Office equipment | 54000 | |||
Elizabeth Wong, capital | 135000 | |||
(To record capital invested) | ||||
2 | 1 | Prepaid rent | 16200 | |
Cash | 16200 | |||
(To record rent prepaid) | ||||
3 | 2 | Office equipment | 27000 | |
Office supplies | 5400 | |||
Accounts payable | 32400 | |||
(To record credit purchases) | ||||
4 | 6 | Cash | 8600 | |
Service revenue | 8600 | |||
(To record cash collected for services rendered) | ||||
5 | 9 | Accounts receivable | 16600 | |
Training revenue | 16600 | |||
(To record revenue earned on account) | ||||
6 | 10 | Accounts payable (32400/2) | 16200 | |
Cash | 16200 | |||
(To record payment on account) | ||||
7 | 19 | Prepaid insurance | 8100 | |
Cash | 8100 | |||
(To record annual premium paid) | ||||
8 | 22 | Cash | 13400 | |
Accounts receivable | 13400 | |||
(To record collection on account) | ||||
9 | 25 | Accounts receivable | 5880 | |
Service revenue | 5880 | |||
(To record service revenue earned) | ||||
10 | 25 | Wages expense | 37000 | |
Cash | 37000 | |||
(To record wages paid for May) | ||||
11 | 31 | Elizabeth Wong, drawings | 5600 | |
Cash | 5600 | |||
(To record cash withdrawn for personal use) | ||||
12 | 31 | Office supplies | 1900 | |
Accounts payable | 1900 | |||
(To record credit purchases) | ||||
13 | 31 | Utilities expense | 1460 | |
Cash | 1460 | |||
(To record payment of utility bill) |
Help Problem 2-7A Preparing and posting journal entries; preparing a trial balance LO3, 4, 5, 6...
On a separate piece of paper complete Problem 2-7A on page 136. Using your answer drag the correct answers to the missing numbers in the ledgers below. Acct # Accounts Receivable 106 Date Explanation 2020, May 9 22 PR Debit $ Credit $ Balance $ G1 16,300 16,300 G1 13,100 3,200 25 G1 5,580 8,780 Accounts Payable Acct # 201 Date Explanation 2020, May 2 10 PR Debit $ Credit $ Balance $ G1 30,600 30,600 G1 15,300 15,300 17,050...
Problem 2-3A Preparing and posting journal entries; preparing a trial balance LO C3, C4, A1, P1, P2Denzel Brooks opened a Web consulting business called Venture Consultants and completed the following transactions in March.March 1 Brooks invested $ 150,000 cash along with $ 22,000 in office equipment in the company in exchange for commonstock.2 The company prepaid $ 6,000 cash for six months' rent for an office. (Hint: Debit Prepaid Rent for $ 6,000 .)3 The company made credit purchases of...
Problem 2-3A Preparing and posting journal entries; preparing a trial balance LO C3, C4, A1, P1, P2 Denzel Brooks opened a Web consulting business called Venture Consultants and completed the following transactions in March. March 1 Brooks invested $155,000 cash along with $30,000 in office equipment in the company. 2 The company prepaid $7,000 cash for six months' rent for an office. Hint Debit Prepaid Rent for $7,000. 3 The company made credit purchases of office equipment for $4,300 and...
Problem 2-3A Preparing and posting journal entries; preparing a trial balance LO C3, C4, A1, P1, P2Denzel Brooks opened a Web consulting business called Venture Consultants and completed the following transactions in March.March 1 Brooks invested $ 150,000 cash along with $ 22,000 in office equipment in the company in exchange for commonstock.2 The company prepaid $ 6,000 cash for six months' rent for an office. (Hint: Debit Prepaid Rent for $ 6,000 .)3 the company made credit purchases of...
Problem 2-1A Preparing and posting Journal entries; preparing a trial balance LO C3, C4, A1, P1, P2 operations. Karla Tanner opens a Web consulung business called Linkworks and completed the following transactions in its first month of April 1 Tanner invested $90,000 cash along with office equipment valued at $21,600 in the company. 2 The company prepaid $7,200 cash for 12 months' rent for office space. Hint: Debit Prepaid Rent for $7.200. The company made credit purchases for $10,000 in...
Problem 2-3A Preparing and posting journal entries: preparing a trial balance Kaseh Nawar opens a web consulting business called Meshreki Consultants and completes the following transactions in March. March 1 Nawar invested $150,000 cash along with $22,000 in office equipment in the company. 2 The company prepaid $6,000 cash for six months' rent for an office. (Hint: Debit Prepaid Rent for $6,000.) 3 The company made credit purchases of office equipment for $3,000 and office supplies for $1,200. Payment is...
Problem 2-3A Preparing and posting journal entries; preparing a trial balance Kaseb Nawar opens a web consulting business called Meshreki Consultants and completes the following transactions in March. March 1 Nawar invested $150,000 cash along with $22,000 in office equipment in the company. 2 The company prepaid $6,000 cash for six months’ rent for an office. (Hint: Debit Prepaid Rent for $6,000.) 3 The company made credit purchases of office equipment for $3,000 and office supplies for $1,200. Payment is...
Problem 2-3A Preparing and posting journal entries; preparing a trial balance LO C3, C4, A1, P1, P2 Denzel Brooks opened a Web consulting business called Venture Consultants and completes the following transactions in March. March 1 Brooks invested $170,000 cash along with $20,000 n office equipment in the company in exchange for common stock. 2 The company prepaid $8,000 cash for six months' rent for an office. (Hint: Debit Prepaid Rent for $8,000.) 3 The company made credit purchases of...
Problem 2-3A Preparing and posting journal entries; preparing a trial balance LO C3, C4, A1, P1, P2 Denzel Brooks opened a Web consulting business called Venture Consultants and completes the following transactions in March. March 1 Brooks invested $185,000 cash along with $29,000 n office equipment in the company in exchange for common stock. 2 The company prepaid $7,000 cash for six months' rent for an office. (Hint: Debit Prepaid Rent for $7,000.) 3 The company made credit purchases of...
Problem 2-1A Preparing and posting journal entries; preparing a trial balance LO C3, C4, A1, P1, P2Karla Tanner opens a Web consulting business called Linkworks and completes the following transactions in its first month of operations.April 1 Tanner invested $ 100,000 cash along with office equipment valued at $ 24,000 n the company in exchange for common stock.2. The company prepaid $ 7,200 cash for 12 months" rent for office space. (Hint: Debit Prepaid Rent for $ 7,200 .)3 The...