Chapter 2, Problem 7BE

Enter the beginning balances shown above in the following T-accounts and post the journal entries.

Journalize the transactions (filling the boxes) of John Daniel, M.D. Include an explanation with each entry. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.)

Instructions: Make a Journal Entry of each transactions.

Instructions Journalize the entries to record the following selected bond investment transactions for Hall Trust (refer to the Chart of Accounts for exact wording of account titles) Apr. June July 1 Purchased for cash $372,000 of Medina City 3% bonds at 100 plus accrued interest of $2,790, paying interest semiannually. Received first semiannual interest payment. 31 Sold $139,200 of the bonds at 98 plus accrued interest of $348. 30

Instructions The following equity investment transactions were completed by Romero Company during a recent year. Apr. July Sept. 10 Purchased 4,700 shares of Dixon Company for a price of $49 per share plus a brokerage commission of $120. 8 Received a quarterly dividend of $0.70 per share on the Dixon Company investment. 10 Sold 1,900 shares for a price of $41 per share less a brokerage commission of $75. Journalize the entries for these transactions. Refer to the Chart of Accounts for exact wording of account titles. When required, round your answers the nearest dollar.

Post these transactions from each General Journal into the General Ledger accounts. When posting transactions to the general ledger, use the transaction letters a, b, c, d, or e as the description for each entry. Also, the dates must be entered in the format dd/mmm (ie, 15/Jan).

Your assistant prepared the following bank reconcillation statement. It appears that the statement Is unacceptable and the task of preparing a proper reconcilation falls upon you. Brandon Company Bank Reconciliation May 31, 2020 Balance per books May 31 $ 9,500 Add: Electronic Fund Transfer $ 1,060 Deposit in transit 2,455 3,515 $13,015 Deduct: Bank charges NSF cheque, Rhonda Teal Outstanding cheques Error in cheque #78: correctly issued and processed by the bank for $762, but incorrectly recorded in the books as $726 (Accounts Payable-Delta Co.) 10 500 1, 8ee 36 2,346 $10,669 9,359 Indicated bank balance Balance per bank statement Discrepancy $ 1,310

In the Payments Journal window, invoices being paid will display the: Select an answer and submit. For keyboard navigation, use the up/down arrow keys to sele a b с d Number of items sold on the invoice. The transaction due date. Credit terms. All of the above.

Why are transactions recorded in the journal?   Group of answer choices To ensure that total debit equal total credits To help prepare the financial statements To ensure that all transactions are posted to the ledger To have a chronological record of all transactions