Accounts Cash Accounts Receivable Supplies Land Accounts Payable Notes Payable Common Stock Retained Earnings Totals September...
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Accounts Cash Accounts Receivable Supplies Land Accounts Payable Notes Payable Common Stock Retained Earnings Totals September 1 Debits $5,400 1,400 6,500 10,100 $23,400 The following transactions occur in September. Required: 1. Record each transaction. Credits 6,400 1,900 7,900 7,200 $23,400 September 1 September 2 September 4 September 8 September 10 Purchase supplies on account for $1,200. September 13 Pay $2,900 to Crimson Company for a long-term note. September 18 Receive $3,900 from customers on account. September 20 Pay $790 for September's rent. September 30 Pay September's utility bill of $1,450. September 30 Pay employees $2,900 for salaries for the month of September. September 30 Pay a cash dividend of $1,200 to shareholders. Provide services to customers for cash, $3,600. Purchase land with a long-term note for $5,300 from Crimson Company. Receive an invoice for $390 from the local newspaper for an advertisement that appeared on September 2. Provide services to customers on account for $4,900. 2. & 3. Post each transaction to the appropriate T-accounts and calculate the balance of each account at September 30. (Hint. Be sure to include the balance at the beginning of September in each T-account.) 4. Prepare a trial balance as of September 30. General Journal T Accounts Trial Balance Record each transaction. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in field.) View transaction list Journal entry worksheet < 1 2 3 4 5 6 7 8 Provide services to customers for cash, $3,600. Note: Enter debits before credits. Date September 01 Record entry General Journal Clear entry General Journal ***** Debit 11 Credit View general journal T Accounts > General Journal Post each transaction to the appropriate T-accounts and calculate the balance of each account at September 30. (Hint: Be sure to include the balance at the beginning of September in each T-account.) Ending Balance Beginning Balance T Accounts Trial Balance Ending Balance Debit Beginning Balance Ending Balance Debit Ending Balance Beginning Balance Debit Debit Beginning Balance Cash. Supplies Accounts Payable Common Stock Credit Credit Credit Credit Beginning Balance Ending Balance Ending Balance Debit Beginning Balance Ending Balance Debit Beginning Balance Ending Balance Debit Debit Beginning Balance Accounts Receivable Land Notes Payable Retained Earnings Credit Credit Credit Credit Beginning Balance Ending Balance Ending Balance Beginning Balance Debit Ending Balance Debit Beginning Balance Ending Balance Debit Ending Balance Beginning Balance Debit Debit Beginning Balance Common Stock Dividends Salaries Expense Advertising Expense Credit Credit Credit Credit Credit Beginning Balance Ending Balance Ending Balance Beginning Balance Debit Ending Balance Debit Beginning Balance Ending Balance Debit Ending Balance Beginning Balance Debit Debit Beginning Balance Retained Earnings Service Revenue Rent Expense Utilities Expense Credit Credit Credit Credit Credit Accounts Cash Accounts Receivable Supplies Land Accounts Payable Notes Payable Common Stock Retained Earnings Totals September 1 Debits $5,400 1,400 6,500 10,100 $23,400 The following transactions occur in September. Required: 1. Record each transaction. Credits 6,400 1,900 7,900 7,200 $23,400 September 1 September 2 September 4 September 8 September 10 Purchase supplies on account for $1,200. September 13 Pay $2,900 to Crimson Company for a long-term note. September 18 Receive $3,900 from customers on account. September 20 Pay $790 for September's rent. September 30 Pay September's utility bill of $1,450. September 30 Pay employees $2,900 for salaries for the month of September. September 30 Pay a cash dividend of $1,200 to shareholders. Provide services to customers for cash, $3,600. Purchase land with a long-term note for $5,300 from Crimson Company. Receive an invoice for $390 from the local newspaper for an advertisement that appeared on September 2. Provide services to customers on account for $4,900. 2. & 3. Post each transaction to the appropriate T-accounts and calculate the balance of each account at September 30. (Hint. Be sure to include the balance at the beginning of September in each T-account.) 4. Prepare a trial balance as of September 30. General Journal T Accounts Trial Balance Record each transaction. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in field.) View transaction list Journal entry worksheet < 1 2 3 4 5 6 7 8 Provide services to customers for cash, $3,600. Note: Enter debits before credits. Date September 01 Record entry General Journal Clear entry General Journal ***** Debit 11 Credit View general journal T Accounts > General Journal Post each transaction to the appropriate T-accounts and calculate the balance of each account at September 30. (Hint: Be sure to include the balance at the beginning of September in each T-account.) Ending Balance Beginning Balance T Accounts Trial Balance Ending Balance Debit Beginning Balance Ending Balance Debit Ending Balance Beginning Balance Debit Debit Beginning Balance Cash. Supplies Accounts Payable Common Stock Credit Credit Credit Credit Beginning Balance Ending Balance Ending Balance Debit Beginning Balance Ending Balance Debit Beginning Balance Ending Balance Debit Debit Beginning Balance Accounts Receivable Land Notes Payable Retained Earnings Credit Credit Credit Credit Beginning Balance Ending Balance Ending Balance Beginning Balance Debit Ending Balance Debit Beginning Balance Ending Balance Debit Ending Balance Beginning Balance Debit Debit Beginning Balance Common Stock Dividends Salaries Expense Advertising Expense Credit Credit Credit Credit Credit Beginning Balance Ending Balance Ending Balance Beginning Balance Debit Ending Balance Debit Beginning Balance Ending Balance Debit Ending Balance Beginning Balance Debit Debit Beginning Balance Retained Earnings Service Revenue Rent Expense Utilities Expense Credit Credit Credit Credit Credit
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Answer rating: 100% (QA)
Step 1 Journal It is the primary book of accounts where all the business transactions are recorded at first in chronological order STEP 2 2 Journal Date Particulars LF Debit Credit 1September Cash Ac ... View the full answer
Related Book For
Intermediate Accounting Reporting and Analysis
ISBN: 978-1337788281
3rd edition
Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach
Posted Date:
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