Question

Post the general journal entries from the journal to the corresponding general ledger accounts, paying particular attention to whether they’re debits or credits. Use the Post Ref. column to ensure that each line item of the journal entries is posted correctly to each general ledger account. Posting from the journal to the general ledger is simply rearranging the information.

J & LAccounting, Inc Post-Closing Trial Balance December 31, 2017 BALANCE DEBIT ACCOUNT TITLE CREDIT Cash, Business Checking Accounts Receivable Prepaid Rent $20,500.00 48,000.00 Accumulated Depreciation, Vehicles Equipment Accumulated Depreciation, Equipment Accounts Payable Common Stock Retained Earnings Dividends Service Revenue Advertising Expense Rent Expense Office Supplies Expense Telephone Expense Utilities Expense Depreciation Expense $12,000.00 3,600.00 600.00 38,000.00 21,500.00 TOTALS $72,100.00 $72,100.00 POST REF. DEBITI CREDIT BALANCE DEBIT CREDIT ITEM DATE 2000 0sh 45 120 2c 2 $15035 1500 cash 2. Journalize the following transactions in the general journal using the following blank form (make as many copies as needed). Each journal entry's debits should equal its credits. This is a fundamental GAAP that can't be violated. (A journal ent error, such as posting $1,010 instead of $1,100, can be corrected at the adjusting correcting journal entries step.)

Answer 1

Please hit LIKE button if this helped. For any further explanation, please put your query in comment, will get back to you.
Cash					Prepaid Rent
Debit		Credit			Debit		Credit
Beginning Balance	$             20,500	1/4	$     12,000		1/4	$ 12,000
1/4	$               1,900	1/9	$           850
1/14	$               2,725	1/10	$             75		Ending Balance	$ 12,000
		1/20	$           660
		1/20	$        2,935		Service Revenue
		1/28	$        1,500		Debit		Credit
Ending Balance	$               7,105						1/4	$    1,900
							1/14	$    2,725
Office Supplies							1/27	$    3,750
Debit		Credit					Ending Balance	$    8,375
1/10	$                    75
					Advertisement Expense
Ending Balance	$                    75				Debit		Credit
					1/9	$       850
Telephone Expense					1/28	$    1,500
Debit		Credit			Ending Balance	$    2,350
1/20	$                  660
Ending Balance	$                  660				Accounts Receivable
					Debit		Credit
Utilities Expense					1/27	$    3,750
Debit		Credit
1/20	$               2,935				Ending Balance	$    3,750
Ending Balance	$               2,935