1) Journalize the transactions below using the following account titles: Cash Capital Stock Dividends Rent expense...
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1) Journalize the transactions below using the following account titles: Cash Capital Stock Dividends Rent expense Automobile expense Supplies expense Office Salaries Expense Misc. expense Accounts Receivable Supplies Accounts Payable Sales Commissions 2) Prepare T-accounts and post the entries to the appropriate accounts. Determine balances after all entries are posted. a) Issued capital stock for $16,000. b) Paid rent on office building for the month, $3,000. c) Purchased supplies on account, $1,200. d) Paid creditor on account, $800. e) Earned sales commissions and sent invoices to customers, $22,500. f) Paid automobile expenses for month, $2,900, and miscellaneous expenses, $1,450. g) Paid office salaries, $4,200. h) Determined the cost of supplies used was $960. i) Paid cash dividends, $1,400. 1) Journalize the transactions below using the following account titles: Cash Capital Stock Dividends Rent expense Automobile expense Supplies expense Office Salaries Expense Misc. expense Accounts Receivable Supplies Accounts Payable Sales Commissions 2) Prepare T-accounts and post the entries to the appropriate accounts. Determine balances after all entries are posted. a) Issued capital stock for $16,000. b) Paid rent on office building for the month, $3,000. c) Purchased supplies on account, $1,200. d) Paid creditor on account, $800. e) Earned sales commissions and sent invoices to customers, $22,500. f) Paid automobile expenses for month, $2,900, and miscellaneous expenses, $1,450. g) Paid office salaries, $4,200. h) Determined the cost of supplies used was $960. i) Paid cash dividends, $1,400.
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1 a Cash 16000 Capital Stock 16000 b Rent Expense 3000 Cash 3000 c S... View the full answer
Related Book For
Management Accounting Information for Decision-Making and Strategy Execution
ISBN: 978-0137024971
6th Edition
Authors: Anthony A. Atkinson, Robert S. Kaplan, Ella Mae Matsumura, S. Mark Young
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