Journalize the following transactions by Norton Printing Company. (Credit account titles are automatically indented when the amount
Question:
Journalize the following transactions by Norton Printing Company. (Credit account titles are automatically indented when the amount is entered. do not indent manually. if no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
1.Stockholders invest $90,000 cash to start the business.
2.Purchased three digital copy machines for $400,000 paying $100,000 cash and signing a 5-year, 6% note for the remainder.
3.Purchased $5,000 paper supplies on credit.
4.Cash received for photocopy services amounted to $7,000
5.Paid $500 cash for radio advertising.
6.Paid $800 on account for paper supplies, purchased in transaction 3.
7.Dividends of $1,500 were paid to stockholders.
8.Paid $1,200 cash for rent for the current month.
9.Received $2,000 cash advance from a customer for future copying.
10. Billed a customer for $450 for photocopy services completed
(The Titles that are used on this chart are No. Account Titles and Explanation, Debit, Credit)
*LIST OF ACCOUNTS*
Accounts Payable, Accounts Receivable, Advertising Expense, Bonds Payable, Buildings, Cash, Common Stock, Dividends, Equipment, Gasoline Expense, Income Tax Expense, Income Taxes Payable, Insurance Expense, Land, Maintenance and Repairs expense, Mortgage Payable, No Entry, Notes Payable, Notes Receivable, Prepaid Insurance, Prepaid Rent, Rent expense, Rent revenue, repair services, retained earning, sales and wages expense, salaries and wages payable, sales revenue, service revenue, supplies, supplies expense, unearned service revenue, utilities expense, website
College Accounting A Practical Approach
ISBN: 978-0132564441
11th Canadian Edition
Authors: Jeffrey Slater, Brian Zwicker