Presented below is the ledger for Sparks Co. Ltd. Instructions (a) Reproduce the journal entries for the
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, 2017.
Transcribed Image Text:
Cash No. 101 5,000 10/4 650 10/12 3,000 10/15 500 10/30 2,000 10/31 Share Capital-Ordinary No. 311 5,000 2,000 No. 332 10/1 10/25 10/1 10/10 10/10 10/20 10/25 1,500 280 300 600 10/30 Dividends Service Revenue No. 400 1,100 650 940 Accounts Receivable No. 112 500 10/6 10/20 10/6 10/10 10/20 1,10010/20 Supplies No. 126 Salaries and Wages Expense 10/4 400 No. 726 Equipment No. 157 10/31 600 10/3 2,000 Rent Expense No. 729 Notes Payable No. 200 3,000 No. 201 2,000 280 10/10 Accounts Payable 1,500 10/3 10/12
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a Oct 1 Cash 5000 Share Capital x Ordinary 5000 Issued shares for cash 10 ...View the full answer
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Related Book For
Financial Accounting
ISBN: 978-1118978085
IFRS 3rd edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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