
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Lavender Company started its business on April 1, 2019. Using the following accounts, prepare the
PLEASE NOTE: For similar accounting treatment (DR or CR), you are to record accounts in the order in which they are mentioned in the transactions.
Cash | Petty Cash | Office Supplies | Computer Equipment | |
Accounts Payable | Unearned Services Income | Services Income | Lavender, Capital | Dividends |
Maintenance Expense | Miscellaneous Expense | Rent Expense | Wages Expense | Cash Short and Over |
The following are the transactions that happened during the month of April.
PLEASE NOTE: You must enter the account names exactly as written above and all dollar amounts will be with "$" and commas as needed (i.e. $12,345).
- The owner invested $7,500 from their personal account to the business account
-
DR CR - Paid rent $600 with check #101.
DR CR - Initiated a petty cash fund $250 check #102.
DR CR - Received $350 cash for services rendered.
DR CR - Purchased office supplies for $125 with check #103.
DR CR - Purchased computer equipment $1,500, paid $500 with check #104, and will pay the remainder in 30 days.
DR CR CR - Received $750 cash for services rendered.
DR CR - Paid wages $375, check #105.
DR CR - Petty cash reimbursement Office Supplies $50, Maintenance Expense $80, Miscellaneous Expense $60. Cash on hand $8. Check #106.
DR DR DR DR or CR? CR - Increased Petty Cash by $70, check #107.
DR CR
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- Domesticarrow_forwardRequired information You did only the t-accounts for the ansewr when i asked before so I was wondering if you would please help me out with the journal entries this time. You can see down there what the last person who helped said. So no t accounts this time just journal entry please. [The following information applies to the questions displayed below.] The general ledger of Pipers Plumbing at January 1, 2021, includes the following account balances: Accounts Debits Credits Cash $ 4,500 Accounts Receivable 9,500 Supplies 3,500 Equipment 36,000 Accumulated Depreciation $ 8,000 Accounts Payable 6,000 Utilities Payable 7,000 Deferred Revenue 0 Common Stock 23,000 Retained Earnings 9,500 Totals $ 53,500 $ 53,500 The following is a summary of the transactions for the year: 1. January 24 Provide plumbing services…arrow_forwardPA4. Use the journals and ledgers that follow. Total the journals. Post the transactions to the subsidiary ledger and (using T-accounts) to the general ledger accounts. Then prepare a schedule of accounts receivable.arrow_forward
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