Leahy Building Security uses the following chart of accounts; The following transactions were Apr. 2 Leahy transferred
Question:
Leahy Building Security uses the following chart of accounts;
The following transactions were Apr. 2 Leahy transferred cash from a personal bank account to an account to be used for the business, $18,600.
2 Paid rent for the month, $340.
5 Bought a used patrol car for $8,400 from the City of Pembrook, pay¬
ing $6,000 down, with the balance due in thirty days.
6 Leahy invested personal weapons in the business; the weapons have a fair market value of $942.
7 Bought communication equipment on account from Roget’s Sound, $1,086.
12 Performed security services at a special rock concert. Billed Davis Enterprises for services rendered, $993.
16 Received bill from Landon Printing for office stationery, $181.74.
17 Purchased weapons for cash from Crawford and Son, $442.
18 Billed Eenton Property Management for services rendered, $2,430.
19 Paid Roget’s Sound $300 to apply on account.
19 Performed security services at a jewelers’ convention. Billed Coast Jewelers’ Association for services rendered, $774.
22 Received and paid insurance premium to Earnest Eidelity for bonding employees, $479.
25 Received bill for gas and oil for patrol car from Statewide Services, $100.30.
26 Billed City Merchants Association for services rendered, $1,643.
27 Received $993 from Davis Enterprises in full payment of account.
30 Paid salaries to employees, $2,620.
30 P. Leahy withdrew.,$l,200 for personal use.
30 Received and paid telephone bill, $108.
P.O. 1,2,3 Instructions Check Figure Trial balance total, $28,850.04 1. Record the transactions m the general journal, beginning with page 1. Give a brief explanation for each entry.
2. In the general ledger, record the account titles and numbers.
3. Post the entries to the ledger accounts.
4. Prepare a trial balance dated April 30, 19—.
Step by Step Answer:
College Accounting Chapters 1-26
ISBN: 9780395796993
6th Edition
Authors: Douglas J. McQuaig, Patricia A. Bille