Requirements: 1. Set up General Ledger using Chart of Accounts on the bottom of this page...

 

    

 

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Requirements: 1. Set up General Ledger using Chart of Accounts on the bottom of this page 2. Analyze the transactions 3. Record the transactions in the General Journal 4. Post the journal entries in the General Ledger 5. Prepare a Trial Balance for the month of October 6. Prepare an Income Statement for the month of October 7. Prepare the Statement of Retained Earmings for the month of October 8. Prepare the Balance Sheet for the month of October 9. Gather all of your documentation and turn it in to your instructor in a three pronged folder or notebook Chart of Accounts Account No. Account Title Account No. Acconnt Title 1020 Cash/Checking 3940 Dividends Paid 1100 Accounts Receivable 4000 Computer Services Revenue 1492 Computer Supplies 6000 Wages Expense 1501 Office Equipment 6300 Rent Expense 1502 Computer Equipment 6350 Repairs Expense - Computer 2000 Accounts Payable 6600 Advertising Expense 3930 Common Stock Oct. 1: Lopez invested $75,000 cash, a $25,000 computer system, and $10,000 of office equipment in the business in exchange for its common stock. Oct. 2: Paid $3,500 cash for one month of rent Oct. 3: Purchased $1,600 of computer supplies on credit from Corvina Office Products Oct. 6: Billed Easy Leasing $6,200 for services performed in installing a new Web server Oct. 8: Paid $1,600 cash for the computer supplies purchased from Corvina Office Products on October 3. Oct. 10: Hired Michelle Jones as a part-time assistant for $150 per day, as needed Oct. 12: Billed Easy Leasing another $1,950 for services performed Oct. 15: Received $6,200 cash from Easy Leasing on its account Oct. 17: Paid $900 cash to repair computer equipment that was damaged when moving it Oct. 20: Paid $1,790 cash for an advertisement in the local newspaper Oct. 22: Received $1,950 cash from Easy Leasing on its account Oct. 28: Billed Clark Company $7,300 for services performed Oct. 31: Paid $1,050 cash for Michelle Jones' wages for seven days' work Oct. 31: Paid $4,000 cash for dividends Requirements: 1. Set up General Ledger using Chart of Accounts on the bottom of this page 2. Analyze the transactions 3. Record the transactions in the General Journal 4. Post the journal entries in the General Ledger 5. Prepare a Trial Balance for the month of October 6. Prepare an Income Statement for the month of October 7. Prepare the Statement of Retained Earmings for the month of October 8. Prepare the Balance Sheet for the month of October 9. Gather all of your documentation and turn it in to your instructor in a three pronged folder or notebook Chart of Accounts Account No. Account Title Account No. Acconnt Title 1020 Cash/Checking 3940 Dividends Paid 1100 Accounts Receivable 4000 Computer Services Revenue 1492 Computer Supplies 6000 Wages Expense 1501 Office Equipment 6300 Rent Expense 1502 Computer Equipment 6350 Repairs Expense - Computer 2000 Accounts Payable 6600 Advertising Expense 3930 Common Stock Oct. 1: Lopez invested $75,000 cash, a $25,000 computer system, and $10,000 of office equipment in the business in exchange for its common stock. Oct. 2: Paid $3,500 cash for one month of rent Oct. 3: Purchased $1,600 of computer supplies on credit from Corvina Office Products Oct. 6: Billed Easy Leasing $6,200 for services performed in installing a new Web server Oct. 8: Paid $1,600 cash for the computer supplies purchased from Corvina Office Products on October 3. Oct. 10: Hired Michelle Jones as a part-time assistant for $150 per day, as needed Oct. 12: Billed Easy Leasing another $1,950 for services performed Oct. 15: Received $6,200 cash from Easy Leasing on its account Oct. 17: Paid $900 cash to repair computer equipment that was damaged when moving it Oct. 20: Paid $1,790 cash for an advertisement in the local newspaper Oct. 22: Received $1,950 cash from Easy Leasing on its account Oct. 28: Billed Clark Company $7,300 for services performed Oct. 31: Paid $1,050 cash for Michelle Jones' wages for seven days' work Oct. 31: Paid $4,000 cash for dividends

Answer rating: 100% (QA)

Lopez Journal Enteries Trial Balance Date Particulars Debit in Credit in For the Month ending Oct 31 ... View the full answer