Question
2Please help...ill rate answers... The transactions of Dexter Company: a. Macy Dexter, owner, invested $15,750 cash in the company in exchange for common stock. b.
2Please help...ill rate answers...
The transactions of Dexter Company:
a. | Macy Dexter, owner, invested $15,750 cash in the company in exchange for common stock. |
b. | The company purchased office supplies for $457 cash. |
c. | The company purchased $8,710 of office equipment on credit. |
d. | The company received $1,858 cash as fees for services provided to a customer. |
e. | The company paid $8,710 cash to settle the payable for the office equipment purchased in transaction c. |
f. | The company billed a customer $3,339 as fees for services provided. |
g. | The company paid $515 cash for the monthly rent. |
h. | The company collected $1,402 cash as partial payment for the account receivable created in transaction f. |
i. | The company paid$900 cash for dividends. |
Prepare general journal entries to record the transactions above: Cash; Accounts Receivable; Office Supplies; Office Equipment; Accounts Payable; Common stock; Dividends; Fees Earned; and Rent Expense. Use the letters beside each transaction to identify entries. (Omit the "$" sign in your response.) |
General Journal | Debit | Credit | |
a. | |||
b. | |||
c. | |||
d. | |||
e. | |||
f. | |||
g. | |||
h. | |||
i. | |||
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Post the abovejournal entries to T-accounts, which serves as the general ledger for this assignment. Determine the ending balance of each T-account. (Record the transactions in the given order. Leave no cells blank - be certain to enter "0" wherever required. Omit the "$" sign in your response.) |
Cash |
| | |||
| | |||
Balance | ||||
|
Accounts Receivable |
| | |||
| | |||
Balance | ||||
|
Office Supplies |
| | |||
| | |||
Balance | ||||
|
Office Equipment |
| | |||
| | |||
Balance | ||||
|
Accounts Payable |
| | |||
| | |||
Balance | ||||
|
Common Stock |
| | |||
| | |||
Balance | ||||
|
Dividends |
| | |||
| | |||
Balance | ||||
|
Fees Earned |
| | |||
| | |||
Balance | ||||
|
Rent Expense |
| | |||
| | |||
Balance | ||||
|
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