Set up the following ledger accounts using the account numbers indicated. All accounts will require only one
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Set up the following ledger accounts using the account numbers indicated. All accounts will require only one sheet, marked Sheet except Bank, which will require two ledger sheets. Bank, ; AR S Canto, ; AR Jooni's Dress Shoppe, ; AR Ellen Nash, ; AR Ronaldo Auto Sales, ; Cleaning Equipment, ; Store Fixtures, ; Delivery Equipment, ; AP Bondi Equipment Suppliers, ; AP Bruce Auto Sales, ; AP Daily Press, ; Bank Loan Payable, ; Capital, John Grady, ; Service Revenue, ; Advertising Expense, ; Cleaning Supplies Expense, ; Rent Expense, ; Salaries Expense, ; Telephone Expense, ; Utilities Expense,
b Journalize the following transactions, complete with appropriate explanations, for Rainbow Rug & Furniture Cleaners.
Oct. John Grady started his business by investing the following assets and liabilities: Bank, $; Cleaning Equipment, $; Store Fixtures, $; and Bank Loan, $Calculate the Capital value needed to balance this transaction, then record the compound journal entry.
Issued Cheque # to Deutsch Holdings for $ to pay the October rent.
Issued Cheque # to Deutsch Holdings for $ to pay the October rent.
Bought truck for $ from Bruce Auto Sales; paid $ down; terms net days. Purchase Invoice #; Cheque #
Bought additional cleaning equipment, $ and supplies, $ from Bondi Equipment Suppliers. Payment due in days. Purchase Invoice #
Received $ from Tony Laicini for cleaning services provided to him today.
Sent an invoice to S Canto for cleaning services provided; terms net days; Sales Invoice #; $
Placed newspaper advertisement in the Daily Press, to be paid in days, $ Purchase Invoice #
Sent an invoice to Ronaldo Auto Sales for $ for cleaning carpets in the showroom; day credit terms; Sales Invoice #
Received $ cash from Sally Ritchie for cleaning rugs and furniture in her home today.
Issued Cheque # for $ to pay balance owing to Bondi Equipment Suppliers.
Received $ from S Canto on Sales Invoice #
Issued Cheque # to Daily Press on account, $
Received $ from Ronaldo Auto Sales on Sales Invoice #
Sent an invoice to Jooni's Dress Shoppe for cleaning services provided today, $; Sales Invoice #; terms days.
Sold cleaning services for cash to Rozmin Jamal, $
Paid telephone bill, $ with Cheque #
Services provided on credit to Ellen Nash, $; terms net days; Sales Invoice #
Services provided to John Carter for cash, $
Paid utilities, $ Cheque #
Paid monthly salaries to two employees, $ each. Cheques # and
c Post the General Journal entries to the ledger accounts.
Related Book For
Financial Accounting
ISBN: 978-0133472264
5th Canadian edition
Authors: Charles Horngren, William Thomas, Walter Harrison, Greg Berberich, Catherine Seguin
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