Record the following selected transactions for March in a two-column journal, identifying each entry by letter: (a) Received $10,000 from Shirley Knowles, owner. (b) Purchased
Record the following selected transactions for March in a two-column journal, identifying each entry by letter:
(a) Received $10,000 from Shirley Knowles, owner.
(b) Purchased equipment for $35,000, paying $10,000 in cash and giving a note payable for the remainder.
(c) Paid $1,000 for rent for March.
(d) Purchased $8,500 of supplies on account.
(e) Recorded $2,500 of fees earned on account.
(f) Received $11,000 in cash for fees earned.
(g) Paid $200 to creditors on account.
(h) Paid wages of $1,250.
(i) Received $1,150 from customers on account.
(j) Recorded owner's withdrawal of $1,850.
ANS:
(a)
(b)
(c)
(d)
(e)
(f)
(g)
(h)
(i)
(j)
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Intermediate Accounting
Authors: Donald E. Kieso, Jerry J. Weygandt, And Terry D. Warfield
13th Edition
9780470374948, 470423684, 470374942, 978-0470423684
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