Question

2012 Aug. 1 6 12 14 20 Paid 2 months rent in advance, $8,000. Purchased cleaning equipment on account from Gavins Supply Ho

Q1) Journalize the transaction.

Jays Cleaning Service General Journal Account Titles and Description PR Page 1 Cr. Dr. | Date 2017 Aug.

0 0
Add a comment Improve this question Transcribed image text
Answer #1

Jay's Cleaning Service
General Journal
Date Account Titles and Explanation Debit Credit
Aug.1 Prepaid rent $8,000
Cash $8,000
( To record rent expense)
Aug.6 Equipment $9,000
Accounts payable - Gavin's supply house $9,000
( To record purchase of equipment)
Aug.12 Cleaning supplies $500
Cash $500
( To record purchase of cleaning supplies)
Aug.14 Cash $2,500
Cleaning fee revenue $2,500
( To record cleaning fee revenue)
Aug.20 Withdrawals Jay $250
Cash $250
( To record jay's withdrawal for personal use)
Aug.21 Advertisement expense $500
Accounts payable $500
( To record advertisement expense)
Aug.25 Utilities expense $100
Cash $100
( To record utilities expense)
Aug.28 Salaries expense $700
Cash $700
( To record salaries expense)
Aug.29 Accounts receivable $2,500
Cleaning fee revenue $2,500
( To record cleaning fee revenue)
Aug.30 Accounts payable - Gavin's supply house $4,500
Cash $4,500
( To record payment of accounts payable)

Kindly comment if you need further assistance.

Thanks‼!

Add a comment
Know the answer?
Add Answer to:
Q1) Journalize the transaction. 2012 Aug. 1 6 12 14 20 Paid 2 months' rent in...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • CHAPTER 3 Beginning the Accounting Cycle 97 Set B 3B- Jarad Stone operates Jarad's Cleaning Service....

    CHAPTER 3 Beginning the Accounting Cycle 97 Set B 3B- Jarad Stone operates Jarad's Cleaning Service. As the bookkeeper, you have L01 (30 min) been requested to journalize the following transactions: 201X Check Figur May 21 May Paid 2 months rent in advance, $12,000 6 Purchased cleaning equipment from Emery's Supply House for $6,000 on account. Dr. Advertising expense $300 12 Purchased cleaning supplies from Littleton's Wholesale for $1,000 cash. 14 Received $1,900 cash from cleaning fees earned. 20 Jarad...

  • PROBLEM 1 – CHAPTER 2 (JOURNALIZE BUSINESS TRANSACTIONS) Journalize each transaction for C. Cide Company for...

    PROBLEM 1 – CHAPTER 2 (JOURNALIZE BUSINESS TRANSACTIONS) Journalize each transaction for C. Cide Company for the month of January.  You may omit journal explanations. Jan.   2          Invested $20,000 cash in business.          3          Purchased an automobile for $4,000 cash for use in business.          5           Paid $1,000 for a one-year insurance policy.          9          Paid salaries to employees for $2,500          10        Purchased supplies on account for $500.          11        Billed customers $1,800 for services performed.          16        Paid $200 cash for advertising.          20        Received $700 cash from customers billed on January 11.          23        Paid creditor...

  • Journalize the following business transactions in general journal form. Identify each transaction by letter. Be sure...

    Journalize the following business transactions in general journal form. Identify each transaction by letter. Be sure to show ALL work! The owner, Mai Li, invests $40,000 in cash in starting a real estate office operating as a sole proprietorship. Purchased $500 of supplies on credit. Purchased equipment for $9,000, paying $4,000 in cash and signed a 30-day, $5,000, note payable. Real estate commissions billed to clients amount to $4,000. Paid $800 in cash for the current month’s rent. Paid $200...

  • During the month of August, Sunland Industries had the following transactions: Aug. 2 Aug. 6 Aug....

    During the month of August, Sunland Industries had the following transactions: Aug. 2 Aug. 6 Aug. 10 Aug 15 Aug. 21 Aug. 28 Aug. 31 Paid cash for the August rent of $1.490. Purchased supplies of $240 on account. Collected $5,150 from customers on account. Received $2.280 cash for services to be rendered in September Paid for supplies purchased on account on August 6. Billed customers for $7,830 for services provided in August, Paid $130 cash for utilities expense. For...

  • Enter the following transactions in the T-accounts below. Use key letters to identify each transaction. Foot...

    Enter the following transactions in the T-accounts below. Use key letters to identify each transaction. Foot and balance each T-account. Prepare a Trial Balance in good form. h Owner invests $20,000 cash and $300 of supplies in his new business, Happy Hunters. Recorded cash received for services rendered, $2,500. Billed customers for services rendered, $2,800. Received water bill, $240. Purchased supplies for $150 on account. Purchased equipment costing $900, paying $100 down and the remainder on account. Paid for an...

  • Journalize the following business transactions in general journal form. Identify each transaction by number. You may...

    Journalize the following business transactions in general journal form. Identify each transaction by number. You may omit explanations of the transactions. (Credit account titles are automatically indented when the amount is entered. Do not Indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) 1. 2. 3. 4. 5. The owner, Mai Li, invests $40,000 in cash in starting a real estate office operating as a sole proprietorship. Purchased $500 of...

  • I need all of the following journal entries done Date Transaction No. Jay opened two accounts...

    I need all of the following journal entries done Date Transaction No. Jay opened two accounts at Union Stale Bank, using S3,000 of his own moncy. He deposited $2,500 in a checking account and $500 into savings 7:1 1 Jay borrowed S6,000 from his Aunt Emma and signed a note with 8% interest. Under the terms of the note, he must make payments of $250 plus acCrued interest on the first day of cach month. Jay put $4,500 into his...

  • (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nemia Consuelo invests P200,000 in cash...

    (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nemia Consuelo invests P200,000 in cash to start a laundry business on August 1. Purchased equipment for R50,000 paying + 30,000 in cash and the remainder due in 30 days. Purchased supplies for 5,200 cash. Received a bill from College News for £ 1,300 for advertising in the campus newspaper. Cash receipts from customers for cleaning and laundry amounted to + 6,400. Paid salaries of P 600 to student workers....

  • help me fill this please. thank you and thumbs up!. Cash Transaction Paid advertising expense of...

    help me fill this please. thank you and thumbs up!. Cash Transaction Paid advertising expense of $165. Issued $600 of common stock for cash. Performed services for cash $450. Performed services on account $500. Paid $215 of last month's salaries. Paid $200 for last month's utilities. Paid $250 cash for miscellaneous expenses. Paid cash dividend of $125. Paid salary expense $250 cash. Collected $250 of accounts receivable. Sold land for cash $500. Received utilities bill, $175 to be paid next...

  • 2 Cellar Dry Cleaners is owned and operated by Mary Angel. A building and equipment are...

    2 Cellar Dry Cleaners is owned and operated by Mary Angel. A building and equipment are currently being rented, pending expansion to new facilities. The actual work of dry cleaning is done by another company at wholesale rates. The assets and the liabilities of the business on November 1, 2017, are as follows: Cash, $34,200; Accounts Receivable, $40,000; Supplies, $5,000; Land, $50,000; Accounts Payable, $16,400. Business transactions during November are summarized as follows: ODOO Mary Angel invested additional cash in...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT