Question
3-4.2b Application Problem: Journalizing transactions and proving and ruling a multicolumn journal Instructions: Journalize the transactions completed during August of the current year. Use page
3-4.2b Application Problem: Journalizing transactions and proving and ruling a multicolumn journal
Instructions: Journalize the transactions completed during August of the current year. Use page 1 of the journal given in the Working Papers. Remember to record appropriate source document numbers. Prove and rule the journal. Prove cash. The beginning cash balance on August 1 is zero. The balance on the next unused check stub is $1,950.0
Chart of Accounts
Cash
Mikaela Mundt, Capital
Accounts Receivable - J. Lepowsky
Mikaela Mundt, Drawing
Supplies
Sales
Prepaid Insurance
Advertising Expense
Accounts Payable - Southern Supplies
Utilities Expense
Transactions
Aug. 1. Mikaela Mundt invested $2,000.00 of her own money in the business. Receipt No. 1.
3. Used business cash to purchase supplies costing $216.00. Wrote Check No. 1.
4. Wrote Check No. 2 for insurance, $245.00.
5. Purchased supplies for $68.00 over the phone from Southern Supplies, promising to send the check next week. Memo No. 1.
11. Sent Check No. 3 to Southern Supplies, $68.00.
12. Sent a check for the electricity bill, $180.00. Check No. 4.
15. Wrote an $800.00 check to Ms. Mundt as a withdrawal of equity for personal use. Used Check No. 5.
16. Sold services for $412.00 to J. Lepowsky, who agreed to pay for them within ten days. Sales Invoice No. 1.
17. Recorded cash sales of $1,179.00. Calculator tape dated March 17.
18. Paid $132.00 for advertising. Wrote Check No. 6.
25. Received $412.00 from J. Lepowsky for the services performed last week. Wrote Receipt No. 2.
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