Question

Post all transactions to the t-accounts and calculate ending balances. Make sure you post all transactions...

Post all transactions to the t-accounts and calculate ending balances. Make sure you post all transactions in chronological order.

Date Accounts and Explanation Debit Credit
Dec. 1 Cash 26,700

Furniture

12,400

Common Stock

39,100
Date Accounts and Explanation Debit Credit
Dec. 1 Prepaid Insurance 1,900

Cash

1,900
Date Accounts and Explanation Debit Credit
Dec. 4 Office Supplies 510

Cash

510
Date Accounts and Explanation Debit Credit
Dec. 12 Cash 3,600

Service Revenue

3,600
Date Accounts and Explanation Debit Credit
Dec. 15 Accounts Receivable 4,600

Service Revenue

4,600
Date Accounts and Explanation Debit Credit
Dec. 18 Salaries Expense 2,000

Cash

2,000
Date Accounts and Explanation Debit Credit
Dec. 20 Cash 14,400

Service Revenue

14,400
Date Accounts and Explanation Debit Credit
Dec. 22 Cash 3,700

Unearned Revenue

3,700
Date Accounts and Explanation Debit Credit
Dec. 23 Cash 4,600

Accounts Receivable

4,600
Date Accounts and Explanation Debit Credit
Dec. 27 Utilities Expense 380

Accounts Payable

380
Date Accounts and Explanation Debit Credit
Dec. 28 Accounts Receivable 600

Service Revenue

600
Date Accounts and Explanation Debit Credit
Dec. 29 Rent Expense 1,200

Cash

1,200
Date Accounts and Explanation Debit Credit
Dec. 30 Accounts Payable 380

Cash

380
Date Accounts and Explanation Debit Credit
Dec. 31 Dividends 3,600

Cash

3,600

Homework Answers

Answer #1
Cash
$26,700 $1,900
$3,600 $510
$14,400 $2,000
$3,700 $1,200
$380
$3,600
Bal $38,810
Furniture
$12,400
Bal $12,400
Common Stock
$39,100
Bal $39,100
Prepaid Insurance
$1,900
Bal $1,900
Office Supplies
$510
Bal $510
Service Revenue
$3,600
$4,600
$14,400
$4,600
Bal $27,800 $600
Accounts Receivable
$4,600
$4,600
$600
Bal $9,800
Salaries Expense
$2,000
Bal $2,000
Unearned Revenue
$3,700
Bal $3,700
Utilities Expense
380
Bal 380
Accounts Payable
380 380
0 0
Rent Expense
$1,200
Bal $1,200
Dividends
$3,600
Bal $3,600
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Problem 2-2A Emily Valley is a licensed dentist. During the first month of the operation of...
Problem 2-2A Emily Valley is a licensed dentist. During the first month of the operation of her business, the following events and transactions occurred. April 1 Invested $21,000 cash in her business. 1 Hired a secretary-receptionist at a salary of $600 per week payable monthly. 2 Paid office rent for the month $1,200. 3 Purchased dental supplies on account from Dazzle Company $4,700. 10 Performed dental services and billed insurance companies $4,600. 11 Received $1,400 cash advance from Leah Mataruka...
Consider the following account starting balances and journal transactions involving these accounts. Use T-accounts to record...
Consider the following account starting balances and journal transactions involving these accounts. Use T-accounts to record the starting balances and organize the offsetting entries for the transactions. The starting balance of Cash is $8,400 The starting balance of Inventory is $4,200 The starting balance of Retained Earnings is $23,500 Date Accounts and Explanation Debit Credit Mar 9 Retained Earnings 2    Cash 2 Consumed good or service and paid expense with cash Mar 10 Cash 40    Inventory 32 Retained Earnings 8...
Complete the worksheet by preparing the Income Statement and Balance Sheet columns. Be sure to calculate...
Complete the worksheet by preparing the Income Statement and Balance Sheet columns. Be sure to calculate the total debits and credits in each step. Caroline Eagle, CPA Worksheet December 31, 2018 Adjusted Income Trial Balance Statement Account Names Debit Credit Debit Credit Cash $46,500 Accounts Receivable 13,100 Office Supplies 200 Prepaid Rent 5,600 Land 5,000 Building 130,000 Accumulated Depreciation—Building $1,100 Furniture 21,000 Accumulated Depreciation—Furniture 1,900 Accounts Payable 3,900 Utilities Payable 675 Salaries Payable 3,900 Interest Payable 900 Unearned Revenue 1,400...
The following is the adjusted trial balance for Dove Lithography. Account Debit Credit Cash $1,700 Accounts...
The following is the adjusted trial balance for Dove Lithography. Account Debit Credit Cash $1,700 Accounts receivable 8,500 Supplies 100 Equipment 7,500 Accumulated depreciation $2,000 Accounts payable 1,200 Salary payable 800 Unearned revenue 600 Capital 3,400 Drawing 2,300 Service revenue 40,000 Salary expense 24,000 Supplies expense 2,300 Depreciation expense 1,600 $48,000 $48,000 Using the information from the worksheet above, prepare the closing journal entries for the company.
Selected transactions from the journal of Splish Brothers Inc. during its first month of operations are...
Selected transactions from the journal of Splish Brothers Inc. during its first month of operations are presented here. Date Account Titles Debit Credit Aug. 1 Cash 7,700 Common Stock 7,700 10 Cash 1,250 Service Revenue 1,250 12 Equipment 6,400 Cash 1,550 Notes Payable 4,850 25 Accounts Receivable 2,890 Service Revenue 2,890 31 Cash 500 Accounts Receivable 500 Post the transactions to T-accounts. (Post entries in the order of journal entries presented in the question.)
Consider the following account starting balances and transactions involving these accounts. Use T-accounts to record the...
Consider the following account starting balances and transactions involving these accounts. Use T-accounts to record the starting balances and the offsetting entries for the transactions. The starting balance of Accounts Receivable is $4,700 The starting balance of Cash is $8,400 The starting balance of Inventory is $4,200 1. Sell product for $30 in cash with historical cost of $30 2. Receive payment of $9 owed by a customer 3. Buy $15 worth of manufacturing supplies for cash What is the...
1. For each of the following accounts, indicate the effects of (a) a debit and (b)...
1. For each of the following accounts, indicate the effects of (a) a debit and (b) the normal account balance.             1.         Notes Payable             2.         Prepaid Insurance             3.         Salaries and Wages Expense             4.         Service Revenue             5.         Equipment             6.         Share Capital-Ordinary 2. Journalize the following business transactions in general journal form. Identify each transaction by number. You may omit explanations of the transactions.    1.   The company issues ordinary shares in exchange for ₤25,000 cash.   ...
On December 31, the ledger of Davis Company contained the following account balances: Accounts Payable $...
On December 31, the ledger of Davis Company contained the following account balances: Accounts Payable $ 11,400 Fees Income $ 171,000 Accounts Receivable 4,900 Supplies 3,300 Accumulated Depreciation 6,200 Prepaid Rent 56,500 Cash 73,000 Rent Expense 8,100 Depreciation Expense 6,200 Supplies Expense 7,300 Equipment 61,000 Teresa Davis, Capital 94,700 Teresa Davis, Drawing 48,500 Utilities Expense 14,500 All the accounts have normal balances. Prepare the closing entries for Davis Company On December 31. Note: Enter debits before credits. Date General Journal...
Discount Center ?Furniture, Inc. completed the following treasury stock transactions in 2018?: Requirements 1. Journalize these...
Discount Center ?Furniture, Inc. completed the following treasury stock transactions in 2018?: Requirements 1. Journalize these transactions. Explanations are not required. 2. How will Discount Center ?Furniture, Inc. report treasury stock on its balance sheet as of December ?31, 2018?? Requirement 1. Journalize these transactions. ?(Record debits? first, then credits. Exclude explanations from any journal? entries.) Dec. ?1: Purchased 1,200 shares of the? company's $1 par value common stock as treasury? stock, paying cash of $ 8 per share. Date...
The following selected transactions were completed during August of the current year: Transactions Aug. 1 Billed...
The following selected transactions were completed during August of the current year: Transactions Aug. 1 Billed customers for fees earned, $74,310. 4 Purchased supplies on account, $2,000. 8 Received cash from customers on account, $62,770. 11 Paid creditors on account, $900. Required: A. Journalize these transactions in a two-column journal. Refer to the T-Accounts for exact wording of account titles. B. Post the entries prepared in (A) to the following T accounts: Cash, Supplies, Accounts Receivable, Accounts Payable, Fees Earned....