Use the following account descriptions for journal entries. Account Type Assets Liabilities Stockholders Equity Revenue Expenses...
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Use the following account descriptions for journal entries. Account Type Assets Liabilities Stockholders Equity Revenue Expenses Account Number 111 112 115 117 119 212 213 214 215 311 312 411 500 511 512 513 514 515 Chart of Accounts Account Title Cash Accounts Receivable Inventory Prepaid Rent Prepaid Insurance Accounts Payable Notes Payable Salaries Payable Interest Payable Common Stock Retained Earnings Sales Revenue Cost of Goods Sold Rent Expense Insurance Expense Salaries Expense Interest Expense Utilities Expense Normal Balance Debit Debit Debit Debit Debit Credit Credit Credit Credit Credit Credit Credit Debit Debit Debit Debit Debit Debit Clipboard C15 1234567 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 A X Paid the current month's electice bill, $250. B During its first month of operation, HFRM completed the following transactions. Date March 1 March 1 March 1 March 3 Font March 8 March 10 March 11 March 18 March 201 March 31 March 31 March 31 Alignment March iransactions Transaction Description Began business by making a deposit in a company bank Paid the premium on a 1-year insurance policy, $2,400. Paid the current month's rent expense, $1,900. Number Purchased repair equipment from Fred Company, $5,800. Paid $1,000 down and the balance was placed on account. Payments will be $400.00 per month for 12 months. The first payment is due 4/1. Note: Use Accounts Payable for the Balance Due. Purchased repair supplies from Gary Company on credit, $650. Paid telephone bill for March, $340. Cash flight management system (FMS) repair revenue for the first Made payment to Gary Company, $400. Cash FMS repair revenue for the second third of March, $2,450. Cash FMS repair revenue for the last third of March, $1,250. Paid the current month's electice bill, $250. Declared and paid cash dividend of $1,000. D REQUIREMENT #1: Prepare journal entries to record the July transactions in the General Journal below. Remember that Debits must equal Credits-All of your Journal Entries should balance. General Journal Date Account Number from Chart of Accounts tab Account Title from Chart of Accounts tab Debit Credit Once you've completed this requirement print your General Journal to complete Requirement #2 on the General Ledger worksheet. Use the following account descriptions for journal entries. Account Type Assets Liabilities Stockholders Equity Revenue Expenses Account Number 111 112 115 117 119 212 213 214 215 311 312 411 500 511 512 513 514 515 Chart of Accounts Account Title Cash Accounts Receivable Inventory Prepaid Rent Prepaid Insurance Accounts Payable Notes Payable Salaries Payable Interest Payable Common Stock Retained Earnings Sales Revenue Cost of Goods Sold Rent Expense Insurance Expense Salaries Expense Interest Expense Utilities Expense Normal Balance Debit Debit Debit Debit Debit Credit Credit Credit Credit Credit Credit Credit Debit Debit Debit Debit Debit Debit Clipboard C15 1234567 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 A X Paid the current month's electice bill, $250. B During its first month of operation, HFRM completed the following transactions. Date March 1 March 1 March 1 March 3 Font March 8 March 10 March 11 March 18 March 201 March 31 March 31 March 31 Alignment March iransactions Transaction Description Began business by making a deposit in a company bank Paid the premium on a 1-year insurance policy, $2,400. Paid the current month's rent expense, $1,900. Number Purchased repair equipment from Fred Company, $5,800. Paid $1,000 down and the balance was placed on account. Payments will be $400.00 per month for 12 months. The first payment is due 4/1. Note: Use Accounts Payable for the Balance Due. Purchased repair supplies from Gary Company on credit, $650. Paid telephone bill for March, $340. Cash flight management system (FMS) repair revenue for the first Made payment to Gary Company, $400. Cash FMS repair revenue for the second third of March, $2,450. Cash FMS repair revenue for the last third of March, $1,250. Paid the current month's electice bill, $250. Declared and paid cash dividend of $1,000. D REQUIREMENT #1: Prepare journal entries to record the July transactions in the General Journal below. Remember that Debits must equal Credits-All of your Journal Entries should balance. General Journal Date Account Number from Chart of Accounts tab Account Title from Chart of Accounts tab Debit Credit Once you've completed this requirement print your General Journal to complete Requirement #2 on the General Ledger worksheet.
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Date 1Jul 1Jul 1Jul 6Jul 8Jul 10Jul 11Jul 18Jul 20Jul 31Jul 31Jul 31Jul General Journal Account Numb... View the full answer
Related Book For
College Accounting A Practical Approach
ISBN: 978-0132564441
11th Canadian Edition
Authors: Jeffrey Slater, Brian Zwicker
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