John Shelley owns and manages Shelley Computer Repair Service, which had the following Trial Balance on December
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John Shelley owns and manages Shelley Computer Repair Service, which had the following Trial Balance on December X Open General Ledger accounts for each of the accounts in the Trial Balance, and enter the balances from Dec Closing balances in X which become the January X balances Opening balances for X You will need to add these accounts: John Shelley, Drawing ; Repair Service Revenue ; Advertising Expense ; Wages Expense ; Repair Parts Expense ; Miscelaneous Expense a Prepare Journal Entries for each of the January transactions and immediately post to the General Ledger Please use the approriate Journal Entry page number as the Posting Ref in the General Ledger and the appropriate General Ledger account number as the Posting Reference in the Journal see examples in textbookb At the end of January, prepare the Trial balance for January. Summarized transactions for January X were as follows:January Advertising costs, paid in cash, $January Additional repair parts supplies purchased on account, $January Miscellaneous expenses, paid in cash, $January Cash collected from customers in payment of accounts receivable, $January Cash paid to creditors for accounts payable due, $ January Repair parts used during January $Hint: Debit this to Repair Parts Expense January Repair Services performed during January: for cash $; on account $January Wages for January, paid in cash $January Johns drawings for January were $
Related Book For
Financial and managerial accounting
ISBN: 978-1118016114
1st edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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