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  • Feb 1, 2012, 07:50 PM
    smith2012
    Homework
    The October transactions were as follows.
    Oct. 5 Received $1,300 in cash from customers for accounts receivable due.
    10 Billed customers for services performed $5,100.
    15 Paid employee salaries $1,200.
    17 Performed $600 of services for customers who paid in advance
    In August.
    20 Paid $1,900 to creditors for accounts payable due.
    29 Paid a $300 cash dividend.
    31 Paid utilities $400.
    Instructions
    (a) Prepare a general ledger using T accounts. Enter the opening balances in the ledger
    Accounts as of October 1. Provision should be made for these additional accounts:
    Dividends, Service Revenue, Salaries and Wages Expense, and Utilities Expense.
    (b) Journalize the transactions, including explanations.
    (c) Post to the ledger accounts.
    (d) Prepare a trial balance on October 31, 2012.
    Journalize transactions, post,
    And prepare a trial balance.
    (SO 3, 5, 6, 7, 8), AP
    (c) Cash $18,800
    Tot. trial
    Balance $24,400
    Journalize transactions, post,
    And prepare a trial balance.
    (SO 3, 5, 6, 7, 8), AP
    (d) Cash $ 5,700
    Tot. trial
    Balance $24,100
    c03TheAccountingInformationSystem.qxd 8/3/10 1:33 PM Page
  • Feb 1, 2012, 08:14 PM
    smoothy
    The answer is here... Announcement: Read this first Expectations for the Homework Help board
  • Feb 1, 2012, 08:19 PM
    smith2012
    This is Beginning Balance Activity for period Ending Balance
    Debit Credit Debit Credit Debit Credit
    Account Description

    Cash 8,200 1,300
    -1,200
    -400
    -300
    -1,900
    Accounts Receivable 2,600 -1,300
    600
    5,100
    Supplies 2,100
    Equipment 8,000
    Accounts Payable 4,800
    1,900
    Dividends 300

    Unearned Service Revenue 1,100 -600
    -5,100
    Common Stock 15,000

    Salaries and wages expense 1,200

    Utilities expense 400


    Totals 20900 20900 10800 -10800
    What I have so far
  • Jun 12, 2012, 02:53 PM
    srl1988
    Journalizing transactions, posting to T-accounts, and preparing a trial balance [45–60 min]
    Doris Stewart started her practice as a design consultant on September 1, 2012. During the first month of operations, the business completed the following transactions:
    Sep 1 Received $42,000 cash and gave capital to Stewart.
    4 Purchased supplies, $700, and furniture, $1,900, on account.
    6 Performed services for a law firm and received $1,400 cash.
    7 Paid $24,000 cash to acquire land for a future office site.
    10 Performed service for a hotel and received its promise to pay the $1,000 within one week.
    14 Paid for the furniture purchased September 4 on account.
    Paid secretary's bi-monthly salary, $490.

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