Presented below and on the next page is the ledger for Heerey Co. Instructions(a) Reproduce the journal
Question:
Presented below and on the next page is the ledger for Heerey Co.
Instructions(a) Reproduce the journal entries for the transactions that occurred on October 1, 10, and 20, and provide explanations for each.(b) Determine the October 31 balance for each of the accounts above, and prepare a trial balance at October 31,2010.
Heerey. Capital Cash No. 101 No. 301 10/1 10/25 5,000 10/1 5,000 10/4 400 650 10/12 4,000 10/15 500 10/30 2,000 | 10/31 10/10 1.500 250 2,000 10/10 Heerey. Drawing No. 306 300 500 10/20 10/25 10/30 300 Accounts Receivable 800 10/20 No. 407 No. 112 Service Revenue 10/6 500 10/6 800 10/20 10/10 650 940 10/20 940 Store Wages Expense 500 | Supplies No. 126 No. 628 400 10/31 10/4 Furniture No. 149 Rent Expense No. 729 250 10/15 10/3 2,000 Notes Payable No. 200 4,000 10/10 Accounts Payable 1,500 | 10/3 No. 201 10/12 2,000
Step by Step Answer:
a Oct 1 Cash 5000 Heerey Capital 5000 Owners investment of cash in busine...View the full answer
Accounting Principles
ISBN: 978-0470533475
9th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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A journal entry is an act of keeping or making records of any transactions either economic or non-economic. Transactions are listed in an accounting journal that shows a company\'s debit and credit balances. The journal entry can consist of several recordings, each of which is either a debit or a credit
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