Fortin Co.'s ledger is as follows: Instructions (a) Journalize the October transactions. (b) Determine the October 31,
Question:
Instructions
(a) Journalize the October transactions.
(b) Determine the October 31, 2017, balance for each account. Prepare a trial balance at October 31, 2017.
Transcribed Image Text:
A. Fortin, Ca 1,200 2,000 Oct. 1 10 15 21 25 Oct. 1 25 1,200 Oct. 3 12 30 31 31 650 3,000 600 250 A. Fortin, Drawin 2,000 Oct. 30 600 Accounts Receivable Service Revenue Oct. 6 10 15 20 1,000 650 3,000 940 Oct. 6 20 1,000 Oct. 21 800 940 Oct. 4 800 Advertising Ex quipment 5,400 Notes Payable Oct. 3 Oct. 28 Rent Expense Oct. 3 5,000 Oct. 31 250 Accounts Payable Salaries E Oct. 12 500 Oct. 4 28 Oct. 31 400
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 62% (8 reviews)
a GENERAL JOURNAL J1 Date Account Titles and Explanation Debit Credit Oct 1 Cash 1200 A Fortin Capit...View the full answer
Answered By
Mary Boke
As an online tutor with over seven years of experience and a PhD in Education, I have had the opportunity to work with a wide range of students from diverse backgrounds. My experience in education has allowed me to develop a deep understanding of how students learn and the various approaches that can be used to facilitate their learning. I believe in creating a positive and inclusive learning environment that encourages students to ask questions and engage with the material. I work closely with my students to understand their individual learning styles, strengths, and challenges to tailor my approach accordingly. I also place a strong emphasis on building strong relationships with my students, which fosters trust and creates a supportive learning environment. Overall, my goal as an online tutor is to help students achieve their academic goals and develop a lifelong love of learning. I believe that education is a transformative experience that has the power to change lives, and I am committed to helping my students realize their full potential.
5.00+
4+ Reviews
22+ Question Solved
Related Book For
Accounting Principles
ISBN: 978-1119048503
7th Canadian Edition Volume 1
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
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 Managerial Accounting questions
-
Durhan Company closes its books on its October 31 year-end. The company does not make entries to accrue for interest except at its year-end. On September 30, the Notes Receivable account balance is...
-
Mendosa Company closes its books monthly. On September 30, selected ledger account balances are: Notes Receivable.. $33,000 Interest Receivable... 170 Notes Receivable include the following. Interest...
-
Brockman Company closes its books on October 31. On September 30, the Notes Receivable account balance is $18,800. Notes Receivable include the following. Interest is computed using a 360-day year....
-
Nu-Look Design, Inc., operated as a residential home improvement company. During calendar years 1996, 1997, and 1998, Ronald A. Stark not only was Nu-Looks sole shareholder and president but also...
-
Washington-pacific invested $4 million to buy a tract of land and plant some young pine trees. The trees can be harvested in 10 years, at which time W-P plans to sell the forest at an expected price...
-
1. Did Maria blow the whistle at the right time? Why or why not? 2. Was her planned response appropriate? Why or why not? 3. How would you suggest she should have dealt with the problem? 4. Should...
-
What are the most powerful social media networks that researchers could obtain data from about customer feedback and loyalty and why?
-
Steam enters a two-stage adiabatic turbine at 8 MPa and 500°C. It expands in the first stage to a state of 2 MPa and 350°C. Steam is then reheated at constant pressure to a temperature of...
-
1. If you put $1,000 in a savings account at the end of each year for 11 years, how much money will be in the account at the end of the 11th year? Assume that the account earns 11% per annum and...
-
A series of solutions containing NaOH, Na2CO3, and NaHCO3, alone or in compatible combination, was titrated with 0.1202 M HCl. Tabulated below are the volumes of acid needed to titrate 25.00-mL...
-
Selected transactions from the journal of June Feldman, investment broker, are presented below: Instructions (a) Post the transactions to T accounts. (b) Prepare the trial balance at August 31, 2017....
-
On July 31, 2017, Lee Meche, MD, had the following balances in the ledger for his medical practice: Cash $8,800, Accounts Receivable $2,750, Supplies $585, Equipment $15,550, Notes Payable $10,000,...
-
What is the relationship between real wages and labor productivity? How would real wages and labor productivity be affected by: (a) An increase in the quantity of other productive factors (such as...
-
The seven basic tools for monitoring a business include all of the following except a. Pareto analysis. b. Monte Carlo statistical simulations. c. scatter plots. d. cause-and-effect diagrams.
-
Is there a difference between effective management and effective leadership? Explain.
-
Maslows hierarchy of needs a. is a theory of why people are motivated. b. uses three factors to compute the motivation of a person in a situation. c. was developed to address the Hawthorne effect. d....
-
Why are these issues sometimes difficult to talk about? What could make conversations both more comfortable and productive?
-
Michael Sutton is trying to decide whether to apply for a credit card or a debit card. He has $7,500 in a savings account at the bank and spends his money frugally. What advice would you have for...
-
Develop a location-aware version of the UnsortedTableMap class so that an operation remove(e) for existing Entry e can be implemented in O(1) time.
-
If a test has high reliability. O the test measures what the authors of the test claim it measures O people who take the same test twice get approximately the same scores both times O scores on the...
-
The balance sheet for Miley Consulting reports the following information on July 1, 2017. Non-current liabilities Bonds payable, 4%, due 2020...............................$940,000 The face value of...
-
Prater Corporation issued $400,000 of 10-year bonds at a discount. Prior to maturity, when the bonds' amortized cost was $390,000, the company redeemed the bonds at 97. Prepare the entry to record...
-
Eyre Inc. issues a $360,000, 10-year, 6% mortgage note payable on November 30, 2017, to obtain financing for a new building. The terms provide for monthly instalment payments. Prepare the journal...
-
Large-scale industrial production - accompanied by massive technological change, expanding international communication networks, and pro-growth government policies-generated rapid economic...
-
How can this relate to individuals who have had a TBI and are currently homeless or marginally housed?
-
1. According to Marxian theory, are crises an economic process inherent to the accumulation dynamics of current capitalism? Justify your answer. 2. According to Marxian theory, what do you consider...
Study smarter with the SolutionInn App