Question

ACC Data View Tell me what you want to do... Review Acrobat Formulas File Home Insert Page Layout Ene PROTECTED VIEW Be careful--files from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected View Al (a) Record these events in general journal form G H E3.17A B D 1 (a) Record these events in general journal form 2 3 4 Montgomery Company 5 General Journal, Year 1 6 7 Event Account Titles 8 9 1 Cash 10 Common Stock Debi Credit 36.000 36,000 + 12 2 13 14 15 3 16 17 18 4 19 20 21 5 22 23 24 6 25 25 27 7 28 29 30 8 31 32 33 34 (b) Post the entries to T-accounts and determine the ending balance in each account 35 36 Cash Accounts Payable Common Stock 37 36,000 36,000 38 39 41 42 43 Accounts Receivable 45 46 47 48 49 Dividends E3-17A E3-22 PB-25 Type here to search 0

Answer 1

(a). No. Credit Journals Account titles Cash Common Stock Debit 36,000 Accounts Payable S 6,500 Common Stock $ 36,000 $ $ 36,000 6. Ledger Cash $ 36,000 $ $ 34,500 $ $ 46,500 21,000 $ 48,000 3,000 Accounts Receivable Service Revenue Trial Balances Account Info Cash Accounts Receivable Accounts Payable Common Stock Dividends Service Revenue Salaries Expense Other Operating Expense Total $ 48,000 $ 6,500 $ 36,000 Debit Credit $ 46,500 $ 13.500 $ 6,500 $ 36,000 S 3,000 $ 48,000 S 21,000 $ 6,500 $ 90,500 $ 90,500 3 $ 6.500 Other Operating Expense Accounts Payable Accounts Receivable 48,000 Dividends 3,000 $ 6,500 s $ $ 34,500 4 $ 21.000 Salaries Expense Cash $ 21,000 $ 13,500 $ 3,000 5 $ 34.500 Cash Accounts Receivable $ 34,500 Service Revenue $ 48,000 6 $ 3,000 Dividends Cash $ 3,000 $ 48,000 . Total Assets= $60,000 [Cash+A/R]=$46,500+13,500 Salaries Expense 21,000 $ (d). Net Income= $20,500 [Service Revenue - Salaries Expense - Other Operating Expenses) [$48,000-21,000-6,500] $ 21,000 Other Operating Expense $ 6,500 $ 6,500

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