From the following transactions for Leslie Company for the month of July, (a) Prepare journal entries (assume
Question:
From the following transactions for Leslie Company for the month of July,
(a) Prepare journal entries (assume that it is page 1 of the journal),
(b) post journal entries to the ledger (use a four-column account),
(c) Prepare a trial balance.
A partial chart of accounts includes Cash, 111; Accounts Receivable, 112; Equipment, 121; Accounts Payable, 211; J. Leslie, Capital, 311; J. Leslie, Withdrawals, 312; Fees Earned, 411; and Salaries Expense, 511.
201X Νow 1 Jasmine Leslie invested $22,0000 in the business. 6 Bought equipment from Brasa Co. for $18,000 on account. 15 Billed Cuz Co. for services rendered, $7,000. 18 Received $5,000 cash for services rendered. 24 Paid salary expense, $1,200. 28 Jasmine withdrew $700 for personal use.
Step by Step Answer:
a PAGE 1 Date 201X Account Titles and Description PR Dr Cr Nov 1 Cash 111 22 0 0 0 00 J Leslie Capital 311 22 0 0 0 00 Owner investment 6 Equipment 12...View the full answer
College Accounting A Practical Approach
ISBN: 9780134729312
14th Edition
Authors: Jeffrey Slater, Mike Deschamps
Related Video
A journal entry is an act of keeping or making records of any transactions either economic or non-economic. Transactions are listed in an accounting journal that shows a company\'s debit and credit balances. The journal entry can consist of several recordings, each of which is either a debit or a credit
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