The transactions of Medina Information Service are recorded in the general journal below. You are to...
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The transactions of Medina Information Service are recorded in the general journal below. You are to post the journal entries to the accounts in the general ledger. After all entries have been posted, you are to prepare a trial balance on the form provided, General Journal J1 Date Account Titles and Explanation Ref. Debit Credit 2017 35,000 Cash Share Capital-Ordinary (Issued ordinary shares for cash) Sept. 1. 35,000 30,000 Equipment Cash Notes Payable (Paid cash and issued 2-year, 9%, note for equipment) 4 10,000 20,000 1,000 Rent Expense Cash (Paid September rent) 8. 1,000 400 Prepaid Insurance Cash (Paid one-year liability insurance) 15 400 18 Cash 2,500 2,500 Service Revenue (Received cash for delivery services) 500 Salaries and Wages Expense Cash (Paid salaries for current period) 20 500 600 Utilities Expense Accounts Payable (Received a bill for September utilities) 25 600 1,800 Dividends Cash (Paid dividends) 30 1,800 2,000 Accounts Receivable Service Revenue (Billed customer for delivery service) 30 2,000 The transactions of Medina Information Service are recorded in the general journal below. You are to post the journal entries to the accounts in the general ledger. After all entries have been posted, you are to prepare a trial balance on the form provided, General Journal J1 Date Account Titles and Explanation Ref. Debit Credit 2017 35,000 Cash Share Capital-Ordinary (Issued ordinary shares for cash) Sept. 1. 35,000 30,000 Equipment Cash Notes Payable (Paid cash and issued 2-year, 9%, note for equipment) 4 10,000 20,000 1,000 Rent Expense Cash (Paid September rent) 8. 1,000 400 Prepaid Insurance Cash (Paid one-year liability insurance) 15 400 18 Cash 2,500 2,500 Service Revenue (Received cash for delivery services) 500 Salaries and Wages Expense Cash (Paid salaries for current period) 20 500 600 Utilities Expense Accounts Payable (Received a bill for September utilities) 25 600 1,800 Dividends Cash (Paid dividends) 30 1,800 2,000 Accounts Receivable Service Revenue (Billed customer for delivery service) 30 2,000
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Related Book For
Governmental and Nonprofit Accounting
ISBN: 978-0132751261
10th edition
Authors: Robert Freeman, Craig Shoulders, Gregory Allison, Robert Smi
Posted Date:
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