Presented below is the ledger for Harbach Co. Instructions (a) Reproduce the journal entries for the transactions
Question:
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 31,2014.
Transcribed Image Text:
Cash No. 101 Owner's Capital 10/1 10/10 10/10 4,00010/15 10/20 10/25 2,00010/31 No. 301 3,000 2,000 No. 306 3,000 10/4 400 1,500 250 300 10/1 10/25 500 10/12 Owner's Drawings 500 10/30 500 10/30 300 Accounts Receivable No. 112 Service Revenue No. 400 10/6 10/20 800 10/20 940 10/6 10/10 10/20 800 500 940 500 Supplies No. 126 Salaries and Wages Expense No. 726 10/4 400 10/31 500 Equipment No. 157 Rent Expense No. 729 10/3 2,000 10/15 250 Notes Payable No. 200 4,000 No. 201 2,000 0/10 Accounts Payable 10/12 1,500 10/3
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 55% (9 reviews)
a Oct 1 Cash 3000 Owners Capital 3000 Owners investment of cash in busines...View the full answer
Answered By
Vincent Omondi
I am an extremely self-motivated person who firmly believes in his abilities. With high sensitivity to task and operating parameters, deadlines and keen on instructions, I deliver the best quality work for my clients. I handle tasks ranging from assignments to projects.
4.90+
109+ Reviews
314+ Question Solved
Related Book For
Accounting Principles
ISBN: 9781118566671
11th Edition
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
Question Posted:
Related Video
A trial balance is a list of all the general ledger accounts contained in the ledger of a business. This list will contain the name of each nominal ledger account and the value of that nominal ledger balance. Each nominal ledger account will hold either a debit balance or a credit balance
Students also viewed these Accounting questions
-
Presented below is the ledger for Bowman 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...
-
Presented below is the ledger for Shumway Co. Instructions (a) Reproduce the journal entries for the transactions that occurred on October 1, 10, and 20, and provide explanations for each. (b)...
-
Presented below is the ledger for Higgs Co. Instructions (a) Reproduce the journal entries for the transactions that occurred on October 1, 10, and 20, and provide explanations for each. (b)...
-
There is a mathematical puzzle called "Four Fours." In it, you use four 4s to make other whole numbers. Examples: You can make 61 (4+4)+4+4-6 Four Fourths You can also make 9! You Try! What other...
-
The stem-and-leaf display given here shows the final examination scores of students in a sociology course. (Leaf unit = 1.0) (a) Find the median score. (b) Find the quartiles Q1 and Q3. (c) What...
-
Problem 15 Bill Cashing sets up practice as an architect, transferring 20,000 of his own money on 1 June 2018 from this personal bank account into a new business bank account with NatMid Bank plc to...
-
To estimate the average number of tweets from all twitter accounts in 2015, one of the authors randomly selected 10 of his followers and counted their tweets. A biased sampling situation is...
-
On September 30 of the current year, Fox Corporation files for bankruptcy. At the time, it estimates that the total FMV of its assets is $725,000, whereas the total amount of its outstanding debt...
-
Simplify. 74 y3 12n 3 21x y 3mn
-
Computer control of a robot to spray-paint an automobile is accomplished by the system shown in Figure DP5.8(a) [7]. We wish to investigate the system when K = 1, 10, and 20. The feedback control...
-
The T-accounts below summarize the ledger of Zimmer Landscaping Company at the end of the first month of operations. Instructions (a) Prepare the complete general journal (including explanations)...
-
Selected transactions for Sandra Linke Company during its first month in business are presented below. Sept. 1 Invested $10,000 cash in the business. 5 Purchased equipment for $12,000 paying $4,000...
-
Find all values of a such that f is continuous on R:
-
A specialty concrete mixer used in construction was purchased for \($300,000\) 7 years ago. Its annual O&M costs are \($105,000.\) At the end of the 8-year planning horizon, the mixer will have a...
-
Milliken uses a digitally controlled dyer for placing intricate and integrated patterns on manufactured carpet squares for home and commercial use. It is purchased for \($400,000.\) Its market value...
-
Five years ago, ARCHON, a regional architecture/contractor firm, purchased an HVAC unit for \($25,000.\) It is expected to last 10 more years with a net salvage value of \($0\) at the end of that...
-
A new CNC mill is expected to cost \(\$ 263,000\) and have a useful life of 6 years. The net annual savings generated by the mill are independent from year to year and are estimated to follow a...
-
Polaris Industries wishes to purchase a multiple-use in-plant road test simulator that can be used for ATVs, motorcycles, and snowmobiles. It takes digital data from relatively short drives on a...
-
Classify the following as real, imaginary, or complex. Plot each z i on a single Argand diagram. a. z 1 = 3 b. z 2 = 2 + 4i c. z 3 = 2i d. z 4 = 1 + 3i e. z 5 = 2 4i
-
Solve each equation or inequality. |6x8-4 = 0
-
What are the challenges facing the social entrepreneurship research community?
-
Give an example of a transaction in the general journal that causes an entry to be posted twice (i.e., to two accounts), one in the general ledger, the other in the subsidiary ledger. Does this...
-
Give some examples of appropriate general journal transactions for an organization using special journals.
-
Indicate whether each of the following statements is true or false. 1. When designing an accounting system, we need to think about the needs and knowledge of both the top managers and various other...
-
The following information is available for ADT Company, which produces special-order security produc order costing system. Overhead is applied using a predetermined overhead rate of 55% of direct...
-
Stahelin Valves produces a single component, a valve. The valve sells for $43 per unit. Fixed costs are $1,605,000 annually. Production and sales of 407,000 units annually results in profit before...
-
Calaveras Tire exchanged equipment for two pickup trucks. The book value and fair value of the equipment given up were $29,000 (original cost of $78,500 less accumulated depreciation of $49,500) and...
Study smarter with the SolutionInn App