Data for M. Sheffield, interior decorator, are presented as follows. Jan. 2 3 9 11 16...
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Data for M. Sheffield, interior decorator, are presented as follows. Jan. 2 3 9 11 16 20 23 28 Journalize the transactions. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Jan. 2 Jan. 3. Jan. 9 Jan. 11 V Jan. 16 Invested $14,100 cash in business. Purchased used car for $4,230 cash for use in business. Purchased supplies on account for $705. Billed customers $3,384 for services performed. Paid $494 cash for advertising. Received $987 cash from customers billed on January 11. Paid creditor $423 cash on balance owed. Withdrew $1,410 cash for personal use by owner. Jan. 20 Jan. 23 Jan. 28 v Account Titles and Explanation Cash Owner's Capital Equipment Cash Supplies Expense Accounts Payable Accounts Receivable Cash. Owner's Capital Cash Cash Accounts Receivable Accounts Payable Cash Owner's Drawings Cash Debit 14.100 4,230 705 3,384 494 987 423 1,410 Credit 14,100 4,230 705 3,384 494 987 423 1,410 Data for M. Sheffield, interior decorator, are presented as follows. Jan. 2 3 9 11 16 20 23 28 Journalize the transactions. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Jan. 2 Jan. 3. Jan. 9 Jan. 11 V Jan. 16 Invested $14,100 cash in business. Purchased used car for $4,230 cash for use in business. Purchased supplies on account for $705. Billed customers $3,384 for services performed. Paid $494 cash for advertising. Received $987 cash from customers billed on January 11. Paid creditor $423 cash on balance owed. Withdrew $1,410 cash for personal use by owner. Jan. 20 Jan. 23 Jan. 28 v Account Titles and Explanation Cash Owner's Capital Equipment Cash Supplies Expense Accounts Payable Accounts Receivable Cash. Owner's Capital Cash Cash Accounts Receivable Accounts Payable Cash Owner's Drawings Cash Debit 14.100 4,230 705 3,384 494 987 423 1,410 Credit 14,100 4,230 705 3,384 494 987 423 1,410
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January 2 Cash Ac Dr 14100 To Owners Capital Ac Owners Investment 14100 invested ... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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