Homework Answers
| Date | General Journal | Debit | Credit |
| Jan. 1 | Prepaid rent | $2,100 | |
| Cash | $2,100 | ||
| ( To record advance rent payment for 3 months) | |||
| Jan. 31 | Rent expense | $700 | |
| Prepaid rent | $700 | ||
| ( To record rent expense for January ) |
Rent expense for 3 months = $2,100
Rent expense for 1 months = 2,100 x 1/3
= $700
Kindly comment if you need further assistance. Thanks‼!
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On January 1, 2018, the general ledger of Big Blast Fireworks
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Accounts
Debit
Credit
Cash
$
24,700
Accounts Receivable
43,500
Inventory
44,000
Land
82,600
Allowance for Uncollectible Accounts
3,100
Accounts Payable
28,200
Notes Payable (9%, due in 3 years)
44,000
Common Stock
70,000
Retained Earnings
49,500
Totals
$
194,800
$
194,800
The $44,000 beginning balance of inventory consists of 440
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had the following inventory transactions:
...
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i solved the first part cant
solve the rest
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On January 1, 2018, the general ledger of Big Blast Fireworks
includes the following account balances:
Accounts
Debit
Credit
Cash
$
24,700
Accounts Receivable
43,500
Inventory
44,000
Land
82,600
Allowance for Uncollectible Accounts
3,100
Accounts Payable
28,200
Notes Payable (9%, due in 3 years)
44,000
Common Stock
70,000
Retained Earnings
49,500
Totals
$
194,800
$
194,800
The $44,000 beginning balance of inventory consists of 440
units, each costing $100. During January 2018, Big Blast Fireworks
had the following inventory transactions:
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