Homework Answers
| TRIAL BALANCE FOR THE MONTH OF JANUARY | ||
| HEAD OF ACCOUNT | DEBIT | CREDIT |
| CASH | 3750 | |
| A/R | 100 | |
| INVENTORIES | 350 | |
| EQUIPMENT | 3000 | |
| A/P | 1900 | |
| N/P | 400 | |
| SALARY PAYABLE | 500 | |
| COMMON STOCK | 2100 | |
| RETAINED EARNING | 750 | |
| REVENUE | 4000 | |
| COST OF GOODS SOLD | 1600 | |
| SALARY EXPENSES | 500 | |
| DIVIDEND | 350 | |
| 9650 | 9650 |
| CASH | INVENTORIES | ||||||
| BB | 500 | 350 | BB | 150 | 1600 | ||
| 4000 | 1000 | 1800 | 350 | CD | |||
| 100 | 500 | ||||||
| 400 | 3750 | CD | 1950 | 1950 | |||
| 600 | |||||||
| 5600 | 5600 | EQUIPMENT | |||||
| BB | 2000 | ||||||
| A/R | 1000 | 3000 | CD | ||||
| BB | 200 | 100 | 3000 | 3000 | |||
| 100 | CD | A/P | |||||
| 200 | 200 | 500 | 600 | BB | |||
| CD | 1900 | 1800 | |||||
| N/P | |||||||
| CD | 400 | 0 | BB | 2400 | 2400 | ||
| 400 | |||||||
| 400 | 400 | COMMON STOCK | |||||
| CD | 2100 | 1500 | BB | ||||
| SALARY PAYABLE | 600 | ||||||
| CD | 500 | 0 | BB | 2100 | 2100 | ||
| 500 | |||||||
| 500 | 500 | R/E | |||||
| CD | 750 | 750 | BB | ||||
| REVENUE | |||||||
| 0 | BB | 750 | 750 | ||||
| CD | 4000 | 4000 | |||||
| 4000 | 4000 | SALARY EXPENSES | |||||
| BB | 0 | 500 | CD | ||||
| COGS | 500 | ||||||
| BB | 0 | 350 | 500 | 500 | |||
| 150 | 1600 | CD | |||||
| 1800 | DIVIDEND | ||||||
| 1950 | 1950 | BB | 0 | 350 | CD | ||
| 350 | |||||||
| 350 | 350 | ||||||
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Record the following journal entries and post to the T-accounts for LAX Company for the month...
Record the following journal entries and post to the
T-accounts for LAX Company for the month of March:
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2. On 3/3, LAX signed a 6% note at State Bank for $85,000.
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of insurance expense
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Salaries and utilities expense of $695 and $286, respectively
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NEED HELP WITH THE JOURNAL ENTRIES
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Record the following journal entries and post to the
T-accounts for LAX Company for the month of March:
1. On 3/1, Common stock was issued for $60,000.
2. On 3/3, LAX signed a 6% note at State Bank for $85,000.
3. On 3/4, LAX purchased printing equipment for $67,250. One month
of insurance expense
4. On 3/6, LAX purchased printing supplies on account for $3,250.
Salaries and utilities expense of $695 and $286, respectively
5. On 3/7, LAX purchased prepaid...
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