College Accounting (Book Only): A Career Approach
12th Edition
ISBN: 9781305084087
Author: Cathy J. Scott
Publisher: Cengage Learning
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Textbook Question
Chapter 2, Problem 3E
R. Dalberg operates Dalberg’s Tours. The company has the following chart of accounts:
Using the chart of accounts, record the following transactions in pairs of T accounts. Give the T account to be debited first and the account to be credited to the right. Show debit and credit and plus and minus signs. (Example: Received and paid the bill for the month’s rent, $480.)
- a. Received and paid the electric bill, $175.
- b. Bought supplies on account, $135.
- c. Paid for insurance for one year, $580.
- d. Made a payment on account to a creditor, $65.
- e. Received and paid the telephone bill, $186.
- f. Sold services on account, $1,375.
- g. Received and paid the gasoline bill for the van, $130.
- h. Received cash on account from customers, $1,458.
- i. Dalberg withdrew cash for personal use, $700.
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Students have asked these similar questions
You are given the following list of accounts with dollar amounts:
Rent Expense- $450
Cash-$1,725
Service Revenue- $750
M. Powell, Withdrawals-$375
Accounts Payable-$600
M. Powell, Capital-$1,200
Insert each account name at the top of a corresponding T account as shown in the attached image, and enter the dollar amount as a normal balance in the account. Then show that the accounting equation is in balance.
c. and d. Enter a credit balance of $38,400 as of September 1, 20Y4 in the Accounts Payable general ledger account. Place a check mark (✓) in the
Posting Reference column. Post the September 18, 20Y4, transaction to the account. For those boxes in which no entry is required, leave the box
blank.
Account Accounts Payable
DATE
Sept. 1, 20Y4
ITEM
Balance ✔
GENERAL LEDGER
POST.
REF.
DEBIT CREDIT
Account No. 21
BALANCE
DEBIT CREDIT
Please see below. Please be sure to use exact terms and dates for this. Need asap please and thank you.
Selected transactions for Pharoah Company are presented below in journal form (without explanations).
Date
Account Title
Debit
Credit
May 5
Accounts Receivable
4,070
Service Revenue
4,070
12
Cash
1,340
Accounts Receivable
1,340
15
Cash
2,120
Service Revenue
2,120
Post the transactions to T-accounts. (Post entries in the order of journal entries presented in the question.)
Chapter 2 Solutions
College Accounting (Book Only): A Career Approach
Ch. 2 - Determine the balance of the following T account:
...Ch. 2 - Which of the following statements is correct? a....Ch. 2 - Prob. 3QYCh. 2 - R. Nelson invests his personal computer, with a...Ch. 2 - When preparing a trial balance, which of the...Ch. 2 - What would be the net income for Floress Catering?...Ch. 2 - On which financial statement(s) would R. Flores,...Ch. 2 - What is the amount of ending capital shown on the...Ch. 2 - Floress Catering purchased equipment that cost...Ch. 2 - Prob. 1DQ
Ch. 2 - Explain why the term debit doesnt always mean...Ch. 2 - Prob. 3DQCh. 2 - How are the three financial statements shown in...Ch. 2 - Prob. 5DQCh. 2 - List two reasons why the debits and credits in the...Ch. 2 - Prob. 7DQCh. 2 - What do we mean when we say that capital, drawing,...Ch. 2 - Prob. 1ECh. 2 - List the classification of each of the following...Ch. 2 - R. Dalberg operates Dalbergs Tours. The company...Ch. 2 - During the first month of operation, Graham...Ch. 2 - Speedy Sewing Services, owned by T. Nguyen, hired...Ch. 2 - During the first month of operations, Landish...Ch. 2 - The following errors were made in journalizing...Ch. 2 - Would the following errors cause the trial balance...Ch. 2 - During December of this year, G. Elden established...Ch. 2 - B. Kelso established Computer Wizards during...Ch. 2 - S. Myers, a speech therapist, opened a clinic in...Ch. 2 - On May 1, B. Bangle opened Self-Wash Laundry. His...Ch. 2 - The financial statements for Daniels Custom...Ch. 2 - During February of this year, H. Rose established...Ch. 2 - J. Carrie established Carries Photo Tours during...Ch. 2 - D. Johnston, a physical therapist, opened...Ch. 2 - On July 1, K. Resser opened Ressers Business...Ch. 2 - The financial statements for Baker Custom Catering...Ch. 2 - Prob. 1ACh. 2 - What Would You Say? A fellow accounting student...Ch. 2 - Prob. 3A
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