Kohl's Home Repair Trial Balance May 31, 20-- Van Account Cash Accounts Receivable Office Supplies Prepald Insurance Equipment Debit Credit Balance Balance Accounts Payable Wilhelm Kohl, Capital Wilhelm Kohl, Drawing Service Fees Rent Expense Wages Expense Phone Expense Gas and Oil Expense Totals 14,310 3,300 200 900 8,000 9,000 3,000 900 600 200 190 5,000 25,000 10,600 40,600 40,600 Change in owner's equity: Wilhelm Kohl's original investment in the business + Net Income for the month Owner's drawing $8,710 3,000 $25,000

Kohl's Home Repair Trial Balance May 31, 20-- Van Account Cash Accounts Receivable Office Supplies Prepald Insurance Equipment Debit Credit Balance Balance Accounts Payable Wilhelm Kohl, Capital Wilhelm Kohl, Drawing Service Fees Rent Expense Wages Expense Phone Expense Gas and Oil Expense Totals 14,310 3,300 200 900 8,000 9,000 3,000 900 600 200 190 5,000 25,000 10,600 40,600 40,600 Change in owner's equity: Wilhelm Kohl's original investment in the business + Net Income for the month Owner's drawing $8,710 3,000 $25,000

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter3: Analyzing And Recording Transactions

Section: Chapter Questions

Problem 12PB: Prepare journal entries to record the following transactions that occurred in March: A. on first day...

See similar textbooks

Similar questions

Required Provide all journal entries pertaining to Singer's line of credit for the first three months of Year 1. (Round your final answers to the nearest dollar amount. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list 1 Record the cash borrowed. 2 Record the interest expenses paid. 3 Record the cash borrowed. Record the interest expenses paid. 5 Record the repayment of borrowed amount. 4 6 Record the interest expenses paid. ****** X w**** 2 of 4 # Next >
The purchases journal for J. K. Insurance for the month of October is represented below. Accounts Payable is account number 202 and Purchases is account number 501. PURCHASES JOURNAL Page 5 Date Invoice No. From Whom Purchased Post Ref. Purchases Debit/Accounts PayableCredit Oct. 2 3118 Express Florist √ 3,550.00 4 3119 T. C. S. Supplies √ 2,790.00 8 3120 Auto Body Repair √ 3,850.00 9 3121 Signs Unlimited √ 4,150.00 10 3122 Dynasty Limo √ 2,380.00 15 3123 T. C. S. Supplies √ 2,150.00 18,870.00 Required: 1. Post the information from the purchases journal to the appropriate general ledger and accounts payable ledger accounts. GENERAL LEDGER ACCOUNT Accounts Payable ACCOUNT NO. 202 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT P5 ACCOUNT Purchases ACCOUNT NO. 501 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT P5 ACCOUNTS PAYABLE LEDGER ACCOUNT Auto Body Repair…
The purchases journal for J. K. Insurance for the month of October is represented below. Accounts Payable is account number 202 and Purchases is account number 501. PURCHASES JOURNAL Page 5 Date Invoice No. From Whom Purchased Post Ref. Purchases Debit/Accounts PayableCredit Oct. 2 3118 Express Florist √ 3,550.00 4 3119 T. C. S. Supplies √ 2,790.00 8 3120 Auto Body Repair √ 3,850.00 9 3121 Signs Unlimited √ 4,150.00 10 3122 Dynasty Limo √ 2,380.00 15 3123 T. C. S. Supplies √ 2,150.00 18,870.00 Required: 1. Post the information from the purchases journal to the appropriate general ledger and accounts payable ledger accounts. GENERAL LEDGER ACCOUNT Accounts Payable ACCOUNT NO. 202 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT Oct. 2 P5 fill in the blank a5cc1f014fedfa2_2 fill in the blank a5cc1f014fedfa2_3 fill in the blank a5cc1f014fedfa2_4 fill in the blank a5cc1f014fedfa2_5 ACCOUNT Purchases ACCOUNT NO. 501…
Prepare journal entries to record the following transactions. Create a T-account for Prepaid Insurance, post any entries that affect the account, and tally the ending balance for the account (assume Prepaid Insurance beginning balance of $9,000). A. April 1, paid cash for one-year policy, $18,000 B. December 31, unexpired premiums, $4,500
Journalizing transactions and posting to T-accounts Roland Poster Optical Dispensary completed the following transactions during the latter part of March: Requirements Journalize the transactions of Roland Foster Optical Dispensary. Include an explanation with each journal entry. Open the following accounts (use T-account format): Cash (Beginning Balance of $21,000), Office Supplies, and Accounts Payable. Post the journal entries from Requirement 1 to the accounts, and compute the balance in each account.
Journalize perpet luutu a variety purpetual lnventory system. During September, these entries. curzed. (LO 2, 3), AP 3ochased caiculators from Dragoo Co. at a total cost of $1,650, terms n/30. PNSeight of $50 on calculators purchased from Dragoo Co. ured caiculators to Dragoo Co. for $66 credit because they did not at pecifications Sld calcula s costing $520 for $690 to Fryer Book Store, terms n/30. Crnted credit of$45 to Fryer Book Store for the return of one calculator hai ws tst sheed. The calculator cost $34. Scldicul e onting $570 for $760 to Heasley Card Shop, terms n/30. 14 20 Instructions Journalize the Septembe: ansactions. E5-3 The following transactions are for Alonzo Company. 1. On December 3, Alonzo Company sold $500,000 of merchandise to Arte Co., terms 1/10, n/30. The cost of the merchandise sold was $330,000. 2. On December 8, Arte Co. was granted an allowance of $25,000 for merchandise purchased on December 3. 3. On December 13, Alonzo Company received the balance due…
jue Jantz started a business in August 20-- called Jantz Plumbing Service. The trial balance showing balances for the month of August are shown. Jantz Plumbing ServiceUNADJUSTED TRIAL BALANCEAugust 31, 20-- ACCOUNT TITLEDEBITCREDIT1Cash20,200.00 2Accounts Receivable2,700.00 3Office Supplies300.00 4Prepaid Insurance800.00 5Plumbing Equipment6,000.00 6Van8,000.00 7Accounts Payable 4,500.008Sue Jantz, Capital 30,000.009Sue Jantz, Drawing3,000.00 10Service Fees 9,800.0011Rent Expense700.00 12Wages Expense500.00 13Phone Expense100.00 14Advertising Expense2,000.00 15Totals44,300.0044,300.00 Required: Determine the following information. Use the format provided below. 1.a.Total revenue for the month b.Total expenses for the month c.Net income for the month2.a.Sue Jantz’s original investment in the business + Net income for the month - Owner’s drawing Increase (decrease) in capital = Ending owner’s equity
Studypug.com The T account for Unearned Rent appeared as follows after posting from the journal: Unearned Rent 23 Dec. 1 1,800 Which of the following is a correct statement about the journal entry that was posted? a.The debit portion of the entry was likely to be Accounts Receivable. b.A "23" was entered in the Post. Ref. column of the journal. c.The entry explanation likely read "Paid rent in advance." d.The account title should read Unearned Rent Receivable.
2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSession Locator=&inprogress=... A ems a < Print Item Transactions and T Accounts The following selected transactions were completed during August of the current year: 1. Billed customers for fees earned, $73,900. 2. Purchased supplies on account, $1,960. 3. Received cash from customers on account, $62,770. 4. Paid creditors on account, $820. a. Journalize these transactions in a two-column journal. If an amount box does not require an entry, leave it blank. (1) Accounts Receivable ✓ 73,900 ✓ Fees Earned (2) Supplies - ✓ Accounts Payable (3) Cash Accounts Receivable (4) Accounts Payable Cash ✓ ✓ 1,960 62,770 820 ✓ ✓ ✓ 73,900 1,960 62,770 820 ✓ b. Post the entries prepared in (a) to the following T accounts: Cash, Supplies, Accounts Receivable, Accounts Payable, Fees Earned. To the left of each amount posted in the accounts, select the appropriate number to identify the transactions. FA 00 7:33 PM 8/23/2022…
reading Youlube eBook Show Me How E Calculator Journalize the Tollowwing transactions in the accounts of Chanmplon Medical Co., a medical equipment company tnat uses thne direct write-off method of acCO uncollectible receivables: Jan. 19. Sold merchandise on account to Dr. Dale Van Dyken, $50,400. The cost of the merchandise sold was $27,200. July 7. Received $10,600 from Dr. Dale Van Dyken and wrote off the remainder owed on the sale of January 19 as uncollectible. Nov. 2. Reinstated the account of Dr. Dale Van Dyken that had been written off on July 7 and received $39,800 cash in full payment. For a compound transaction, if an amount box does not require an entry, leave it blank. Jan. 19-sale Jan. 19-cost July 7 Nov. 2-reinstate Nov. 2-collection ( Previous Check My Work 00000
5. Jack's lawn care used the direct write-off method for accounting for uncollectible accounts. The company writes off $500 on Jane Doe's account. The journal entry to record this will include a debit of $500 to which account?
Relaxing Recliner Chairs completed the following transactions: Required: Record the transactions in the journal of Relaxing Recliner Chairs. Explanations are notrequired. (For notes stated in days, use a 360-day year. Round to the nearest dollar.)