Acc290-Week 4 P4-8a

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ACC290 Week 4 Exercises - P4-8A| | |
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P4-8A| | | | | |
A. Journalize Transactions| | | | | |
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| Date| Account Titles and Explanations| Debit| Credit| | | | 2012| | |  | | |
| 07/01/12| Cash| 12000|  | | |
|  | Common Stock| | 12000| | |
|  | (Issued Stock for Cash)| |  | | |
| 1| Equipment| 8000|  | | |
|  | Cash| | 2000| | |
|  | Accounts Payable| | 6000| | |
|  | (Purchased Truck with Cash and Account)| |  | | | | 3| Supplies | 900|  | | |
|  | Accounts Payable| | 900| | |
|  | (Purchased Supplies on Account)| |  | | |
| 5| Prepaid Insurance| 1800|  | | |
|  | Cash| | 1800| | |
|  | (Paid 1-year Insurance Policy)| |  | | |
| 12| Accounts Receivable| 3700|  | | |
|  | Service Revenue| | 3700| | |
|  | (Billed customer for cleaning service)| |  | | | | 18| Accounts Payable| 500|  | | |
|  | Cash| | 500| | |
| 18| Accounts Payable| 1000|  | | |
|  | Cash| | 1000| | |
|  | (Paid truck and supplies accounts due)| |  | | | | 20| Salaries and Wage Expense| 2000|  | | |
|  | Cash| | 2000| | |
|  | (Paid employee salaries)| |  | | |
| 21| Cash| 1600|  | | |
|  | Service Revenue| | 1600| | |
|  | (Received pymt from billed customer)| |  | | | | 25| Accounts Receivable| 2500|  | | |
|  | Service Revenue| | 2500| | |
|  | (Billed customer for cleaning service)| |  | | | | 31| Maintenance and Repairs expense| 290|  | | |
|  | Cash| | 290| | |
|  | (Paid for truck maintenance for month)| |  | | | | 31| Dividend| 600|  | | |
|  | Cash| | 600| | |
|  | (Paid cash dividend)|  |  | | |
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B. Post to Ledger Accounts | | | | | |
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| Cash| | Equipment| |
07/01/12| 12000| 2000| 07/01/12| 8000| | |
07/05/12|  | 1800| |  | | |
07/18/12|  | 500| |  | | |
07/18/12|  | 1000| |  | | |
07/20/12|  | 2000| |  | | |
07/21/12| 1600| | |  | | |
07/31/12|  | 290| |  | | |
07/31/12|  | 600| |  | | |
Balance as of 7/31/12| 5410| | Balance as of 7/31/12| 8000| | | | Common Stock| | Accounts Payable| |
07/01/12|  | 12000| 07/01/12|  | 6000| |
|  | | 07/03/12|  | 900| |
|  | | 07/18/12| 1500| | |
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Balance as of 7/31/12|  | 12000| Balance as of 7/31/12|  | 5400| | | | | | | | |
| Supplies| | Prepaid Insurance| |
07/03/12| 900| | |  | | |
|  | | 07/05/12| 1800| | |
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|  | | Balance as of 7/31/12| 1800| | |
Balance as of 7/31/12| 900| | | | | |
| Accounts Recievable| | Service Revenue| |
07/12/12| 3700| | 07/12/12|  | 3700| |
07/25/12| 2500| | 07/21/12|  | 1600| |
|  | | 07/25/12|  | 2500| |
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Balance as of 7/31/12| 6200| | Balance as of 7/31/12|  | 7800| | | | | | | | |
| Salaries and Wages Expense| | Maintenance and Repairs Expense| | 07/20/12| 2000| | 07/31/12| 290| | |
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Balance as of 7/31/12| 2000| | Balance as of 7/31/12| 290| | | | | | | | | |
| Dividends| | | |
07/31/12| 600| | | | | |
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Balance as of 7/31/12...
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