Question

Here is the ledger for Crane Company. Cash Oct. 1 8,220 Oct.4 1,620 Oct. 10 2,200 Oct. 12 2,720 Oct. 10 9,220 Oct. 15 390 Oct. 20 840 Oct. 30 440 Oct. 25 3,220 Oct. 31 640 Accounts Receivable Oct. 6 940 Oct. 20 840 Oct. 20 1,060 Supplies Oct. 4 1,620 Oct. 31 1,400 Equipment Oct. 3 4,220 Notes Payable Oct. 10 9,220 Accounts Payable Oct. 12 2,720 Oct. 3 4,220 Common Stock Oct. 1 8,220 Oct. 25 3,220 Dividends Oct. 30 440 Service Revenue Oct 6 940

Answer 1

Credit $8,220.00 $4,220.00 $1,620.00 1. Jouranl Entries in the books of Crane Company for the Month October Date Account Title Debit Oct-01 Cash $8,220.00 Common Stock (Issued stock for cash) Oct-03 Equipment $4,220.00 Accounts payable (Equipment purchased on account) Oct-04 Supplies $1,620.00 Cash (Paid cash for purchase of supplies) Oct-06 Accounts receivable $940.00 Service Revenue (Billed clients for service provided) Oct-10 $2,200.00 Service Revenue (Received cash for service provided) Oct-10 Cash $9,220.00 Notes payable (Issued notes payable for cash) $940.00 cash $2,200.00 $9,220.00 Oct-12 $2,720.00 $2,720.00 Oct-15 $390.00 $390.00 Oct-20 Accounts payable Cash (Paid cash for balance of accounts payable) Rent Expenses Cash (Paid cash for rent expenses) Cash Accounts Receivable (received cash in payment of account) Accounts receivable Service Revenue (Billed clients for service provided) $840.00 $840.00 Oct-20 $1,060.00 $1,060.00 Oct-25 Cash $3,220.00 $3,220.00 Oct-30 Common Stock (Issued stock for cash) Dividends Cash (Dividends paid to shareholders) $440.00 $440.00 Oct-31 $640.00 $640.00 Salaries and wages expenses Cash (Paid cash for salaries) Supplies Expenses Supplies (Purchased supplies) Oct-31 $1,400.00 $1,400.00

Credit CRANE COMPANY Trail Balance For the month of October Particulars Debit Cash $17,890.00 Accounts Receivable $1,160.00 Supplies $220.00 Equipment $4,220.00 Notes Payable Accounts Payable Common Stock Dividends $440.00 Service Revenue Salaries and Wages expenses $640.00 Supplies expenses $1,400.00 Rent Expenses $390.00 TOTAL $26,360.00 $9,220.00 $1,500.00 $11,440.00 $4,200.00 $26,360.00