Create journal entries for the following adjustment entries: Post the transaction to the ledger. Your general ledger
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Question:
- Create journal entries for the following adjustment entries:
- Post the transaction to the ledger. Your general ledger cash balance uses a full ledger sheet; use the T Chart for all other accounts.
- Prepare the trial balance of Colorado Service Center at April 30, 2021.
- Complete the end of the accounting cycle for Colorado Service Center by creating the income statement, statement of owner’s equity, and balance sheet for the month ending April 30, 2021.
- Borrowed $49,000 from the bank and signed a notes payable in the name of the business Paid cash of $26,500 to acquire land.
- Performed customer service and earned revenue on account, $5,560.
- Performed service for a customer and received cash of $5,800.
- Purchased supplies on account, $350.
- Paid $3,575 on accounts payable.
- Paid cash expense for salaries ($4,500) and rent ($2,500); make a compound entry.
- Received $3,300 on account.
- Pays $900 in cash for a 3-month auto insurance.
- Received a $255 utility bill that will be paid next week.
- Harper withdrew cash of $5,575.
- Paid maintenance expense of $23.
- Received $1,500 cash from a customer for 3 months of service
- Employees are paid $2,250 every Friday for a 5-day work week. April 30, 2021 is a Wednesday.
- Record use of 1 month’s prepaid auto insurance ($900 for 3 months).
- On April 30, 2021, the supplies on hand is $45 (On April 1, 2021 it was $350).
- Depreciation for the current month includes equipment ($750) and trucks ($450). Make a compound entry.
Related Book For
Fundamental Accounting Principles
ISBN: 978-0078110870
20th Edition
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
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