Presented below is the ledger for Bowman Co. Instructions(a) Reproduce the journal entries for the transactions that
Question:
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 the October 31 balance for each of the accounts above, and prepare a trial balance at October 31,2012.
Cash No. 101 Owner's Capital No. 301 3,000 10/4 500 10/12 4,000 10/15 500 10/30 2,000 | 10/31 10/1 400 10/1 3,000 1,500 250 10/10 10/25 2,000 10/10 Owner's Drawings No. 306 10/20 300 500 10/25 10/30 300 No. 400 Accounts Receivable No. 112 Service Revenue 800 10/20 940 10/6 500 10/6 800 10/20 10/10 500 10/20 940 Supplies No. 126 Salaries and Wages Expense No. 726 500 | 10/31 10/4 400 Rent Expense No. 729 Equipment No. 157 10/3 2,000 10/15 250 Notes Payable No. 200 10/10 4,000 Accounts Payable No. 201 1,500 10/3 2,000 10/12
Step by Step Answer:
a Oct 1 Cash 3000 Owners Capital 3000 Owners investment of cash in busines...View the full answer
Accounting Principles
ISBN: 978-0470534793
10th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Related Video
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
Students also viewed these Accounting questions
-
Presented below is the ledger for Harbach 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 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)...
-
Create a class called Car that includes three instance variablesa model (type String), a year (type String), and a price (double). Provide a constructor that initializes the three instance variables....
-
Explain stewardship theory, and compare it to agency theory.
-
Draw structure contours on Fig. G-3. Use a 400-ft contour interval (including 0, 400, 800, 1200, etc.). Assume that, unlike the example in Fig. 2.8, this surface is not broken by faults, so your...
-
The standard process for making a polymer has mean yield \(35 \%\). A chemical engineer has developed a modified process. He runs the process on 10 batches and measures the yield (in percent) for...
-
For each of the following pairs of Treasury securities (each with $1000 par value), identify which will have the higher price: a. A three-year zero-coupon bond or a five-year zero coupon bond? b. A...
-
an eye-catching and persuasive academic poster. This poster will be used to support the digital marketing pitch contained in the web site and social media posts. Your design should effectively...
-
Air flows under steady, approximately one-dimensional conditions through the conical nozzle in Fig. P4.21. If the speed of sound is approximately 340 m/s, what is the minimum nozzle-diameter ratio...
-
The T accounts below summarize the ledger of Bennet Landscaping Company at the end of the first month of operations.Instructions(a) Prepare the complete general journal (including explanations) from...
-
Selected transactions for Roberta Garza 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...
-
A partial payment is made on the date(s) indicated. Use the United States rule to determine the balance due on the note at the date of maturity. The Effective Date is the date the note was written....
-
Given that, sec(0) = 3 and 3 t determine the exact values of the trigonometric functions below. Choose the correct match. cos (8) <0 <2, sin(8) 1. 6 3 3.-22 2. 3 3 4. --/m
-
Green Industries paid total expenses of $5,440 and dividends of $1,520 during the month of August. What is the total amount reduced in the retained earnings account?
-
Steve has been investing $5,000 at the beginning of each year for the past 20 years. How much has Steve accumulated now, assuming he has earned 11% compounded annually on his investment?
-
The SEC Cybersecurity Guidance suggest that if one or more cybersecurity incidents materially affects a registrants products, services, relationships with customers or suppliers.? What are the Risk...
-
Bill received $12,000 of public assistance benefits last year paid under a public welfare fund based on need. How much income must he recognize because of receiving those benefits?
-
Solve the systems in Problems 27-54 by solving the corresponding matrix equation with an inverse, if possible. \(\left\{\begin{array}{l}8 x+6 y=-26 \\ -2 x+4 y=12\end{array}ight.\)
-
Give the structural formulas of the alkenes that, on ozonolysis, give: a. (CH3)2C=O and CH2=O b. Only (CH3CH2)2C=O c. CH3CH=O and CH3CH2CH=O d. O=CHCH2CH2CH2CH=O
-
Explain why a Tocoma ban on plastic bags would be inefficient.
-
Grania Companys income statement contained the condensed information below. Granias balance sheet contained the comparative data at December 31, shown below. Accounts payable pertain to operating...
-
Data for Grania Company are presented in P17-5A. Instructions Prepare the operating activities section of the statement of cash flows using the direct method.
-
Presented on the next page are the financial statements of Weller Company. Additional data:1. Dividends declared and paid were $25,000.2. During the year equipment was sold for $8,500 cash. This...
-
Quality Cabinets Inc. (Quality) manufactures custom kitchen cabinets from its location in Squamish, British Columbia. The cabinets are then sold to contractors who install them in kitchens. Bruce...
-
Wildhorse Sports has determined the following unit costs for each of its products: Pants Jerseys Jackets Direct materials $5.00 $11.00 $54.00 Direct labor 4.00 3.00 24.00 Manufacturing overhead 5.00...
-
Hindenburg Inc. is an automobile manufacturer in the city of New Orleans, Louisiana that specializes in farm-related vehicles, such as tractors, etc. They have two types of tractors Standard and...
Study smarter with the SolutionInn App