List of Accounts Accounts Payable Accounts Receivable Advertising Expense Buildings Cash Equipment Gasoline Expense Insurance Expense...
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List of Accounts Accounts Payable Accounts Receivable Advertising Expense Buildings Cash Equipment Gasoline Expense Insurance Expense Land Maintenance and Repairs Expense Miscellaneous Expense Mortgage Payable No Entry Notes Payable Notes Receivable Owner's Capital Owner's Drawings Prepaid Insurance Prepaid Rent Rent Expense Rent Revenue Salaries and Wages Expense Salaries and Wages Payable Service Revenue Supplies Supplies Expense Unearned Service Revenue Utilities Expense Vehicle Assistance Used -Your answer is partially correct. Data for M. Oriole, interior decorator, are presented as follows. Jan. 2 Invested $13,900 cash in business. 3 Purchased used car for $4,170 cash for use in business. 9 Purchased supplies on account for $695. 11 Billed customers $3,336 for services performed. 16 Paid $487 cash for advertising. 20 Received $973 cash from customers billed on January 11. 23 Paid creditor $417 cash on balance owed. 28 Withdrew $1,390 cash for personal use by owner. 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 Account Titles and Explanation Debit Jan. 2 Cash Owner's Capital Jan. 3 Vehicle Cash Jan. 9 Suppiles Accounts Payable 13,900 Credit 4,170 695 Jan. 11 Accounts Receivable 3,336 Service Revenue Jan. 16 ▼ Advertising Expense 487 Cash Jan. 20 Cash Accounts Receivable Jan. 23 V Accounts Payable Cash 973 417 Jan. 28 ▼ Owner's Drawings 1,390 Cash 13,900 4,170 695 3,336 487 973 417 1,390 Bal. V 40,600 R 2 123456789 10 12 Bal. 3,000 3,000 (b) Your answer is partially correct. Post the journal entries to T-accounts. (Post entries in the order of journal entries presented in the previous question.) 1 39,000 7,700 Cash 20,000 12,000 10 3,000 5 1,700 12 500 400 6,000 Bal. 9,100 Bal. ▼ 40,600 Accounts Receivable 11,000 10 3,000 Bal. 8,000 Bal. ✓ 3,000 7 500 1,200 Supplies Bal. ▼ 1,700 Bal. 0 5 Prepaid Insurance 1,700 Bal. ✓ 1,700 Bal. ▼ 0 3 Prepaid Rent 20,000 Bal. ▼ 20,000 Bal. ▼ о Equipment 30,700 Bal. ▼ 30,700 Bal. ▼ о Accounts Payable 9 400 18,700 7 1,200 11 500 Bal. 400 Bal. ▾ 20,000 Owner's Capital 1 39,000 Bal. ✓ о Bal. ✓ 39,000 Bal. 12 Service Revenue 8 18,700 о Bal. Salaries and Wages Expense 6,000 18,700 Bal. 6,000 Bal. о 11 Utilities Expense 500 Bal. ▼ 500 Bal. ▼ о List of Accounts Accounts Payable Accounts Receivable Advertising Expense Buildings Cash Equipment Gasoline Expense Insurance Expense Land Maintenance and Repairs Expense Miscellaneous Expense Mortgage Payable No Entry Notes Payable Notes Receivable Owner's Capital Owner's Drawings Prepaid Insurance Prepaid Rent Rent Expense Rent Revenue Salaries and Wages Expense Salaries and Wages Payable Service Revenue Supplies Supplies Expense Unearned Service Revenue Utilities Expense Vehicle Assistance Used -Your answer is partially correct. Data for M. Oriole, interior decorator, are presented as follows. Jan. 2 Invested $13,900 cash in business. 3 Purchased used car for $4,170 cash for use in business. 9 Purchased supplies on account for $695. 11 Billed customers $3,336 for services performed. 16 Paid $487 cash for advertising. 20 Received $973 cash from customers billed on January 11. 23 Paid creditor $417 cash on balance owed. 28 Withdrew $1,390 cash for personal use by owner. 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 Account Titles and Explanation Debit Jan. 2 Cash Owner's Capital Jan. 3 Vehicle Cash Jan. 9 Suppiles Accounts Payable 13,900 Credit 4,170 695 Jan. 11 Accounts Receivable 3,336 Service Revenue Jan. 16 ▼ Advertising Expense 487 Cash Jan. 20 Cash Accounts Receivable Jan. 23 V Accounts Payable Cash 973 417 Jan. 28 ▼ Owner's Drawings 1,390 Cash 13,900 4,170 695 3,336 487 973 417 1,390 Bal. V 40,600 R 2 123456789 10 12 Bal. 3,000 3,000 (b) Your answer is partially correct. Post the journal entries to T-accounts. (Post entries in the order of journal entries presented in the previous question.) 1 39,000 7,700 Cash 20,000 12,000 10 3,000 5 1,700 12 500 400 6,000 Bal. 9,100 Bal. ▼ 40,600 Accounts Receivable 11,000 10 3,000 Bal. 8,000 Bal. ✓ 3,000 7 500 1,200 Supplies Bal. ▼ 1,700 Bal. 0 5 Prepaid Insurance 1,700 Bal. ✓ 1,700 Bal. ▼ 0 3 Prepaid Rent 20,000 Bal. ▼ 20,000 Bal. ▼ о Equipment 30,700 Bal. ▼ 30,700 Bal. ▼ о Accounts Payable 9 400 18,700 7 1,200 11 500 Bal. 400 Bal. ▾ 20,000 Owner's Capital 1 39,000 Bal. ✓ о Bal. ✓ 39,000 Bal. 12 Service Revenue 8 18,700 о Bal. Salaries and Wages Expense 6,000 18,700 Bal. 6,000 Bal. о 11 Utilities Expense 500 Bal. ▼ 500 Bal. ▼ о
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Related Book For
Understanding Financial Accounting
ISBN: 9781119406921
2nd Canadian Edition
Authors: Christopher D. Burnley
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