Brian Ford owns a service business called Ford Lawn and Garden. Ford Lawn and Garden's general...
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Brian Ford owns a service business called Ford Lawn and Garden. Ford Lawn and Garden's general ledger accounts are given in the Working Papers. Transactions: Feb. 1. Received cash from owner as an investment, $11,000.00. R1. 3. Paid cash for supplies, $800.00. C1. 5. Received cash from sales, $1,800.00. T5. 6. Sold services on account to Clara Walthers, $560.00. S1. 9. Paid cash for rent, $1,200.00. C2. 11. Paid cash for miscellaneous expense, $100.00. C3. 13. Bought supplies on account from Corner Supplies, $480.00. M1. 13. Received cash from sales, $860.00. T13. 16. Paid cash for advertising, $286.00. C4. 18. Paid cash on account to Corner Supplies, $280.00. C5. 20. Paid cash for electric bill, $460.00. C6. 20. Received cash on account from Clara Walthers, $300.00. R2. 25. Paid cash for supplies, $300.00. C7. 27. Paid cash for supplies, $160.00. C8. 27. Received cash from sales, $4,200.00. T27. 28. Paid cash to owner for personal use, $1,000.00. C9. 28. Received cash from sales, $220.00. T28. Instructions: 1. Open an account for Utilities Expense. Use the 3-digit numbering system described in the chapter. 2. Journalize the transactions completed during February of the current year. Use page 1 of a journal. Source documents are abbreviated as follows: check, C; memorandum, M; receipt, R; sales invoice, S; calculator tape, T. 3. Post from the general journal to the general ledger. 4. Prove cash. The balance on the next unused check stub is $13,794.00. Brian Ford owns a service business called Ford Lawn and Garden. Ford Lawn and Garden's general ledger accounts are given in the Working Papers. Transactions: Feb. 1. Received cash from owner as an investment, $11,000.00. R1. 3. Paid cash for supplies, $800.00. C1. 5. Received cash from sales, $1,800.00. T5. 6. Sold services on account to Clara Walthers, $560.00. S1. 9. Paid cash for rent, $1,200.00. C2. 11. Paid cash for miscellaneous expense, $100.00. C3. 13. Bought supplies on account from Corner Supplies, $480.00. M1. 13. Received cash from sales, $860.00. T13. 16. Paid cash for advertising, $286.00. C4. 18. Paid cash on account to Corner Supplies, $280.00. C5. 20. Paid cash for electric bill, $460.00. C6. 20. Received cash on account from Clara Walthers, $300.00. R2. 25. Paid cash for supplies, $300.00. C7. 27. Paid cash for supplies, $160.00. C8. 27. Received cash from sales, $4,200.00. T27. 28. Paid cash to owner for personal use, $1,000.00. C9. 28. Received cash from sales, $220.00. T28. Instructions: 1. Open an account for Utilities Expense. Use the 3-digit numbering system described in the chapter. 2. Journalize the transactions completed during February of the current year. Use page 1 of a journal. Source documents are abbreviated as follows: check, C; memorandum, M; receipt, R; sales invoice, S; calculator tape, T. 3. Post from the general journal to the general ledger. 4. Prove cash. The balance on the next unused check stub is $13,794.00.
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I Journal Entry i The purpose preparing the journal entry to enter the required transaction into segregate into debit and credit balance Journal entry has two parts debit and credit part Debit all exp... View the full answer
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College Accounting A Contemporary Approach
ISBN: 978-0077639730
3rd edition
Authors: David Haddock, John Price, Michael Farina
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