Posting each transaction to the appropriate T-accounts and calculate the balance of each account.
Homework Answers
| Cash | |||
| Opening Balance | Jun-07 | $ 62,000.00 | |
| Jun-01 | $ 57,000.00 | Jun-16 | $ 770.00 |
| Jun-02 | $ 27,000.00 | Jun-19 | $ 370.00 |
| Jun-12 | $ 3,700.00 | Jun-29 | $ 820.00 |
| Jun-30 | $ 1,270.00 | ||
| Jun-30 | $ 470.00 | ||
| Closing Balance | $ 22,000.00 | ||
| $ 87,700.00 | $ 87,700.00 | ||
| Accounts Receivable | |||
| Opening Balance | |||
| Jun-23 | $ 4,700.00 | Closing Balance | $ 4,700.00 |
| $ 4,700.00 | $ 4,700.00 | ||
| Supplies | |||
| Opening Balance | |||
| Jun-10 | $ 6,700.00 | Closing Balance | $ 6,700.00 |
| $ 6,700.00 | $ 6,700.00 | ||
| Equipment | |||
| Opening Balance | $ - | ||
| Jun-07 | $ 62,000.00 | ||
| Closing Balance | $ 62,000.00 | ||
| $ 62,000.00 | $ 62,000.00 | ||
| Accounts Payable | |||
| Opening Balance | 0 | ||
| Jun-10 | $ 6,700.00 | ||
| Closing Balance | $ 6,700.00 | ||
| $ 6,700.00 | $ 6,700.00 | ||
| Notes Payable | |||
| Opening Balance | $ - | ||
| Closing Balance | $ 57,000.00 | Jun-01 | $ 57,000.00 |
| $ 57,000.00 | $ 57,000.00 | ||
| Common Stock | |||
| Opening Balance | |||
| Closing Balance | $ 27,000.00 | Jun-02 | $ 27,000.00 |
| $ 27,000.00 | $ 27,000.00 | ||
| Dividends | |||
| Opening Balance | |||
| Jun-30 | $ 470.00 | Closing Balance | $ 470.00 |
| $ 470.00 | $ 470.00 | ||
| Service Revenue | |||
| Opening Balance | $ - | ||
| Jun-12 | $ 3,700.00 | ||
| Closing Balance | $ 8,400.00 | Jun-23 | $ 4,700.00 |
| $ 8,400.00 | $ 8,400.00 | ||
| Salaries expense | |||
| Opening Balance | $ - | ||
| Jun-16 | $ 770.00 | Closing Balance | $ 770.00 |
| $ 770.00 | $ 770.00 | ||
| Advertising expense | |||
| Opening Balance | $ - | ||
| Jun-19 | $ 370.00 | Closing Balance | $ 370.00 |
| $ 370.00 | $ 370.00 | ||
| Utilities expense | |||
| Opening Balance | $ - | ||
| Jun-30 | $ 1,270.00 | Closing Balance | $ 1,270.00 |
| $ 1,270.00 | $ 1,270.00 | ||
Add Answer to:
Posting each transaction to the appropriate T-accounts and
calculate the balance of each account.
Required information...
need t accounts and trial balance. Required Information [The following information applies to the questions displayed...
need t accounts and trial balance.
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Consider the recorded transactions below. Debit 8,100 Credit 1. Accounts Receivable Service Revenue 8,100 2. Supplies...
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Required Information [The following information applies to the questions displayed below.] Boilermaker House Painting Company Incurs the following transactions for September. 1. September 3 Paint houses in the current month for $18,5ee on account. 2. September 8 Purchase painting equipment for $19,500 cash. 3. September 12 Purchase office supplies on account for $3,2ee. 4. September 15 Pay employee salaries of $3,900 for the current month. 5. September 19 Purchase advertising to appear in the current month for $1,eee cash. 6....
Required information Exercise 2-20A Record transactions, post to T-accounts, and prepare a trial balance (LO2-4, 2-5,...
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need t accounts and trial balance.
Required Information [The following information applies to the questions displayed below) Boilermaker House Painting Company Incurs the following transactions for September 1. September 3 Paint houses in the current month for $19, on account. 2. September & Purchase painting equipment for $20,000 cash. 3. September 12 Purchase office supplies on account for $3,300. 4. September 15 Pay employee salaries of $4,000 for the current month. 5. September 19 Purchase advertising to appear in the...
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Required information [The following information applies to the questions displayed below.] Below are several transactions for Crimson Tide Corporation. A junior accountant, recently employed by the company, proposes to record the following transactions. External Transaction Accounts Debit Credit Pay cash dividends of $770 to stockholders. Cash 1. 770 Dividends 770 Provide services on account for customers, $3,100. 2. Cash Service Revenue 3,100 3,100 Pay a $470 utilities bill for the current period. Utilities Expense Cash 3. 470 470 370 Receive...
Required Information (The following information applies to the questions displayed below.] Pirates Incorporated had the following balances at the beginning of September. Credits PIRATES INCORPORATED Trial Balance September 1 Accounts Debits Cash $ 4,689 Accounts Receivable 688 Supplies 5,780 Land 9, 30e Accounts Payable Notes Payable Common Stock Retained Earnings Totals $20,200 $ 5,600 1.100 7,190 6.480 $20,280 The following transactions occur in September. September 1 Provide services to customers for cash, $2,800. September 2 Purchase land with a long-term...
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Required information [The following information applies to the questions displayed below.) The general ledger of Jackrabbit Rentals at January 1, 2021, includes the following account balances: Credits Debits $ 46,500 30,700 115,800 Accounts Cash Accounts Receivable Land Accounts Payable Notes Payable (due in 2 years) Common Stock Retained Earnings Totals 15,800 35,000 105,000 37,200 $193,000 $193,000 The following is a summary of the transactions for the year: 1. January 12 provide services to customers on account, $67,400. 2. February 25...
Exercise 2-20A Record transactions, post to T-accounts, and prepare a trial balance (LO2-4, 2-5, 2-6) (The following information applies to the questions displayed below.) Bollermaker House Painting Company incurs the following transactions for September. 1. September 3 Paint houses in the current month for $17,500 on account. 2. September 8 Purchase painting equipnent for $18,500 cash. 3. September 12 Purchase office supplies on account for $3,000. 4. September 15 Pay employee salaries of $3,700 for the current month. 5. September...
Required Information [The following information applies to the questions displayed below.] Boilermaker House Painting Company Incurs the following transactions for September. 1. September 3 Paint houses in the current month for $18,5ee on account. 2. September 8 Purchase painting equipment for $19,500 cash. 3. September 12 Purchase office supplies on account for $3,2ee. 4. September 15 Pay employee salaries of $3,900 for the current month. 5. September 19 Purchase advertising to appear in the current month for $1,eee cash. 6....
Required information Exercise 2-20A Record transactions, post to T-accounts, and prepare a trial balance (LO2-4, 2-5, 2-6) The following information applies to the questions displayed below.) Boilermaker House Painting Company incurs the following transactions for September 1. September 3 Paint houses in the current month for $17,500 on account. 2. September 8 Purchase painting equipment for $18,500 cash. 3. September 12 Purchase office supplies on account for $3,000. 4. September 15 Pay employee salaries of $3,700 for the current month....
Exercise 2-19 Record transactions, post to T-accounts, and prepare a trial balance (LO2-4,2-5, 2-6) (The following information applies to the questions displayed below) Green Wave Company plans to own and operate a storage rental facility. For the first month of operations, the company has the following transactions, 1. January 1 Issue 10,000 shares of common stock in exchange for $39.000 in cash 2. January 5 Purchase land for $22,500. A note payable is signed for the full amount 3. Janunry...
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