Walker's Inspection Services is in its second month of operations. You have been given the following journal
Question:
Walker's Inspection Services is in its second month of operations. You have been given the following journal entries regarding its January 2014 transactions.
Required
a. Set up the following accounts (use the balance column format) entering the opening balances brought forward from the end of last month, December 31, 2013: Cash (101) $850; Accounts Receivable (106) $3(K); Equipment (167) $1,500; Accounts Payable (201) $325; Jay Walker, Capital (301) $2,325; Jay Walker, Withdrawals (302) $3(K); Fees Earned (401) $1,800; and Salaries Expense (622) $1,500.
b. Post the journal entries to the accounts and enter the balance after each posting.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Fundamental Accounting Principles
ISBN: 978-0071051507
Volume I, 14th Canadian Edition
Authors: Larson Kermit, Tilly Jensen
Question Posted: