GENERAL JOURNAL ENTRIES For each of the following transactions, list the account to be debited and...
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GENERAL JOURNAL ENTRIES For each of the following transactions, list the account to be debited and the account to be credited in the general journal. 1. Invested cash in the business, $5,000. 2. Paid office rent, $500. 3. Purchased office supplies on account, $300. 4. Received cash for services rendered (fees), $400. 5. Paid cash on account, $50. 6. Rendered services on account, $300. 7. Re ved cash for an amount owed by a customer, $100. GENERAL LEDGER ACCOUNTS Set up T accounts for each of the general ledger accounts needed for Exercise 4-2A and post debits and credits to the accounts. Foot the accounts and enter the balances. Prove that total debits equal total credits. CHAPTER Apel the telephone and make deliveries, Her chart of accounts is as follows JOURNALIZING AND POSTING TRANSACTIONS Annette Creighton opened Creighton Consulting. She rented a small office and paid a part-time worker to answer SERIES A PROBLEMS P49A (LO4/S) bal lan10.02 p hal tetal debit $1 Chart of Accounts Assets 101 Cash 142 Office Supplies 181 Office Equipment Revenues 401 Consulting Fees Expenses 511 Wages Expense $12 Advertising Expense $21 Rent Expense 525 Telephone Expense 526 Transportation Expense 533 Urilities Expense Liabilities 202 Accounts Payable Owner's Equity 311 Annette Creighton, Capital 312 Annette Creighton, Drawing 549 Miscellaneous Expense Creighton's transactions for the first month of business are as follows: Jan. 1 Creighton invested cash in the business, $10,000. 1 Paid rent, $500. 2. Purchased office supplies on account, $300. Purchased office equipment on account, $1,500. Received cash for services rendered, $580. 4 6. 7. Paid telephone bill, $42. Paid utilities bill, $38. 10 Received cash for services rendered, $360. 12 Made payment on account, $50. 13 Paid for car rental while visiting an out-of-town client (transportation expense), $150. Paid part-time worker, $360. Received cash for services rendered, $420. 15 17 Creighton withdrew cash for personal use, $100. Paid for a newspaper ad, $26. 18 20 Reimbursed part-time employee for cab fare incurred delivering materi- als to clients (transportation expense), $35. Paid for books on consulting practices (miscellaneous expense), $28. Received cash for services rendered, $320. Made payment on account for office equipment purchased, $150. 22 24 25 27 Paid part-time worker, $360. Received cash for services rendered, $180. 29 (continued) 30 GENERAL JOURNAL ENTRIES For each of the following transactions, list the account to be debited and the account to be credited in the general journal. 1. Invested cash in the business, $5,000. 2. Paid office rent, $500. 3. Purchased office supplies on account, $300. 4. Received cash for services rendered (fees), $400. 5. Paid cash on account, $50. 6. Rendered services on account, $300. 7. Re ved cash for an amount owed by a customer, $100. GENERAL LEDGER ACCOUNTS Set up T accounts for each of the general ledger accounts needed for Exercise 4-2A and post debits and credits to the accounts. Foot the accounts and enter the balances. Prove that total debits equal total credits. CHAPTER Apel the telephone and make deliveries, Her chart of accounts is as follows JOURNALIZING AND POSTING TRANSACTIONS Annette Creighton opened Creighton Consulting. She rented a small office and paid a part-time worker to answer SERIES A PROBLEMS P49A (LO4/S) bal lan10.02 p hal tetal debit $1 Chart of Accounts Assets 101 Cash 142 Office Supplies 181 Office Equipment Revenues 401 Consulting Fees Expenses 511 Wages Expense $12 Advertising Expense $21 Rent Expense 525 Telephone Expense 526 Transportation Expense 533 Urilities Expense Liabilities 202 Accounts Payable Owner's Equity 311 Annette Creighton, Capital 312 Annette Creighton, Drawing 549 Miscellaneous Expense Creighton's transactions for the first month of business are as follows: Jan. 1 Creighton invested cash in the business, $10,000. 1 Paid rent, $500. 2. Purchased office supplies on account, $300. Purchased office equipment on account, $1,500. Received cash for services rendered, $580. 4 6. 7. Paid telephone bill, $42. Paid utilities bill, $38. 10 Received cash for services rendered, $360. 12 Made payment on account, $50. 13 Paid for car rental while visiting an out-of-town client (transportation expense), $150. Paid part-time worker, $360. Received cash for services rendered, $420. 15 17 Creighton withdrew cash for personal use, $100. Paid for a newspaper ad, $26. 18 20 Reimbursed part-time employee for cab fare incurred delivering materi- als to clients (transportation expense), $35. Paid for books on consulting practices (miscellaneous expense), $28. Received cash for services rendered, $320. Made payment on account for office equipment purchased, $150. 22 24 25 27 Paid part-time worker, $360. Received cash for services rendered, $180. 29 (continued) 30
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Answer rating: 100% (QA)
1 Cash Dr 5000 To owners Capital Cr 5000 Being cash invested in business 2Office Rent account Dr 500 To Cash Ac 500 Being office rent paid 3 Office Supplies Ac Dr 300 Vendor payable Ac Cr 300 Being of... View the full answer
Related Book For
Intermediate Accounting
ISBN: 978-0077400163
6th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson
Posted Date:
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