Presented below is the ledger for Harbach Co. Instructions (a) Reproduce the journal entries for the transactions
Question:
Instructions
(a) Reproduce the journal entries for the transactions that occurred on October 1, 10, and 20, and provide explanations for each.
(b) Determine the October 31 balance for each of the accounts above, and prepare a trial balance at October 31,2014.
Transcribed Image Text:
Cash No. 101 Owner's Capital 10/1 10/10 10/10 4,00010/15 10/20 10/25 2,00010/31 No. 301 3,000 2,000 No. 306 3,000 10/4 400 1,500 250 300 10/1 10/25 500 10/12 Owner's Drawings 500 10/30 500 10/30 300 Accounts Receivable No. 112 Service Revenue No. 400 10/6 10/20 800 10/20 940 10/6 10/10 10/20 800 500 940 500 Supplies No. 126 Salaries and Wages Expense No. 726 10/4 400 10/31 500 Equipment No. 157 Rent Expense No. 729 10/3 2,000 10/15 250 Notes Payable No. 200 4,000 No. 201 2,000 0/10 Accounts Payable 10/12 1,500 10/3
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 55% (9 reviews)
a Oct 1 Cash 3000 Owners Capital 3000 Owners investment of cash in busines...View the full answer
Answered By
Vincent Omondi
I am an extremely self-motivated person who firmly believes in his abilities. With high sensitivity to task and operating parameters, deadlines and keen on instructions, I deliver the best quality work for my clients. I handle tasks ranging from assignments to projects.
4.90+
109+ Reviews
314+ Question Solved
Related Book For
Accounting Principles
ISBN: 9781118566671
11th Edition
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
Question Posted:
Related Video
A trial balance is a list of all the general ledger accounts contained in the ledger of a business. This list will contain the name of each nominal ledger account and the value of that nominal ledger balance. Each nominal ledger account will hold either a debit balance or a credit balance
Students also viewed these Accounting questions
-
Presented below is the ledger for Bowman Co. Instructions(a) Reproduce the journal entries for the transactions that occurred on October 1, 10, and 20, and provide explanations for each.(b) Determine...
-
Presented below is the ledger for Shumway Co. Instructions (a) Reproduce the journal entries for the transactions that occurred on October 1, 10, and 20, and provide explanations for each. (b)...
-
Presented below is the ledger for Higgs Co. Instructions (a) Reproduce the journal entries for the transactions that occurred on October 1, 10, and 20, and provide explanations for each. (b)...
-
There is a mathematical puzzle called "Four Fours." In it, you use four 4s to make other whole numbers. Examples: You can make 61 (4+4)+4+4-6 Four Fourths You can also make 9! You Try! What other...
-
The stem-and-leaf display given here shows the final examination scores of students in a sociology course. (Leaf unit = 1.0) (a) Find the median score. (b) Find the quartiles Q1 and Q3. (c) What...
-
According to a survey of business firms in a certain city, 750 firms offer their employees health insurance, 640 offer dental insurance, and 280 offer health insurance and dental insurance. How many...
-
Baumann Industries is considering purchasing NewMark Corporation. Baumanns board of directors has requested a breakeven analysis, based on cost data provided by NewMarks accounting department....
-
The general ledger of Hensley Company contained the following Accounts Payable control account (in T-account form). Also shown is the related subsidiary ledger. Instructions (a) Indicate the missing...
-
Outline Purchasing steps you would take in terms of adding value to the Profit Leverage Effect on behalf of your company. Add who would you reach out to.
-
How people use, access, and discover data in business is being actively disrupted by tablets, which had been designed for consumers. Users have higher expectations for data displays and capabilities....
-
The T-accounts below summarize the ledger of Zimmer Landscaping Company at the end of the first month of operations. Instructions (a) Prepare the complete general journal (including explanations)...
-
Selected transactions for Sandra Linke Company during its first month in business are presented below. Sept. 1 Invested $10,000 cash in the business. 5 Purchased equipment for $12,000 paying $4,000...
-
Two income statements for Cornea Company follow: a. Prepare a vertical analysis of Cornea Company's income statements. b. Does the vertical analysis indicate a favorable or an unfavorable trend?...
-
Q/Choose the correct answer: (only four) I. In the SR-30TM engine the intake air is compressed by: (Radial compressor - Axial compressor - Centrifugal compressor). The mixed combusted fuel in the...
-
Below is a summary of a CPM for southwest airlines, Alaska and American Airlines. Please provide a summary. the main firm with the weigh score is southwest airlines. What does this mean for southwest...
-
Write the code in c programming language please Note: Write the full code which is correct and works i already asked this question but you answered incomplete and code wasnt correct. PROJECT ( SORT...
-
How can Forensic psychology be used in a criminal investigation? What is the history of Forensic psychology and how it has evolved? Why is Forensic Psychology an important resource to law enforcement...
-
Suppose that on October 16, 2007 a firm loses a lawsuit and has to pay $100 million within 9 months. Currently it has no money to pay, so it decides to sell a piece of equipment. Although the...
-
In what way is the dynamic Arrow-Hurwicz model defined in its discrete-time and continuous-time versions?
-
Solve each equation or inequality. |6x8-4 = 0
-
What are the challenges facing the social entrepreneurship research community?
-
Give an example of a transaction in the general journal that causes an entry to be posted twice (i.e., to two accounts), one in the general ledger, the other in the subsidiary ledger. Does this...
-
Give some examples of appropriate general journal transactions for an organization using special journals.
-
Indicate whether each of the following statements is true or false. 1. When designing an accounting system, we need to think about the needs and knowledge of both the top managers and various other...
-
thanks in advance... solve it but try to use a powerpoint with: .Introduction... .Background... (problem formulation and initial solution).... .Analysis... (decision variables, objective function,...
-
A researcher has a theory that people who read a set of facts on a green piece of paper are more likely to remember them than a subject who reads the facts from a pink piece of paper. In this...
-
A well-meaning public policy school Happy And Rigorous yet Riveting Institute for Studies (HARRIS) would like to know the effect of their MPP program on their students' future outcomes. They identify...
Study smarter with the SolutionInn App