(1). Journalize the following selected transactions for January, identifying each entry by letter. Explanations may be omitted.
Jan. |
1 |
(a)Received cash from the investment made by the owner, $14,000. |
2 |
(b)Received cash for providing accounting services, $9,500. |
|
3 |
(c)Billed customers on account for providing services, $4,200. |
|
4 |
(d)Paid advertising expense, $700. |
|
5 |
(e)Received cash from customers on account, $2,500. |
|
6 |
(f)Owner withdraws $1,010. |
|
7 |
(g)Received telephone bill, $900. |
|
8 |
(h)Paid telephone bill, $900. |
General Journal |
Problem ___1__ |
Date |
Account Titles |
Ref. |
Debits |
Credits |
(2). Prepare a journal entry for the purchase of a truck on April 4 for $85,700, paying $15,000 cash and the remainder on account. Omit explanation and reference.
General Journal |
Problem ___2__ |
Date |
Account Titles |
Ref. |
Debits |
Credits |
(3). Prepare a journal entry on October 12 for the fees earned on account, $14,600. Omit explanation and reference.
General Journal |
Problem ___3__ |
Date |
Account Titles |
Ref. |
Debits |
Credits |
(4). Record the following selected transactions for April in a two-column journal, identifying each entry by letter. Omit explanation.
April
(a) On April 1st, received $18,000 from Katie Long, owner.
(b) On April 2nd, purchased equipment for $27,000, paying $10,000 in cash and giving a note payable for the remainder.
(c) On April 5th, paid $2,300 for rent for April.
(d) On April 8th, purchased $1,500 of supplies on account.
(e) On April 10th, recorded $9,800 of fees earned on account.
(f) On April 17th, received $7,500 in cash for fees earned.
(g) On April 21st, paid $1,200 to creditors on account.
(h) On April 25th, paid wages of $3,425.
(i) On April 28th, received $7,900 from customers on account.
(j) On April 30th, recorded owner's withdrawal of $1,875.
General Journal |
Problem ___4__ |
Date |
Account Titles |
Ref. |
Debits |
Credits |
Q1. | |||||||
Journal Entries | |||||||
Date | Accounts title and explanations | Debit 4 | Credit $ | ||||
1-Jan | Cash Account Dr. | 14000 | |||||
Owner's capital | 14000 | ||||||
2-Jan | Cash Account Dr. | 9500 | |||||
Service revenue | 9500 | ||||||
3-Jan | Accounts receivable Dr. | 4200 | |||||
Service revenue | 4200 | ||||||
4-Jan | Advertisement expense Account Dr. | 700 | |||||
Cash account | 700 | ||||||
6-Jan | Cash account Dr. | 2500 | |||||
Accounts receivable | 2500 | ||||||
6-Jan | Owners Withdrawals Dr. | 1010 | |||||
Cash Account | 1010 | ||||||
7-Jan | Utilities expense Account Dr. | 900 | |||||
Utility expense Payable | 900 | ||||||
8-Jan | utility expense Payable Dr. | 900 | |||||
Cash account | 900 | ||||||
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