Question
6. Choco provide trucking services. Using accounts given below, 1) Make a journal entry for each of the following transactions. Do not need to provide
6. Choco provide trucking services. Using accounts given below,
1) Make a journal entry for each of the following transactions. Do not need to provide explanation for each.
2) Post journal entry to T-accounts.
3) Prepare trial balance for the month of September.
Accounts name: Cash, Accounts Receivable, Prepaid Rent, Office Supplies, Truck, Accounts Payable, Common Stock, Service Revenue, Gasoline Expense, Dividends.
- 9/1: The stockholders contributed cash of $40,000 and a truck worth $48,000 into the business in exchange for common stock total of $88,000.
b. 9/2: Paid two months' rent in advance in cash, $2,400.
c. 9/12: Performed the trucking service on account of $6,400.
d. 9/20: Received payment of $2,000 on the trucking service performed on 9/12 on account.
e. 9/21: Purchased office supplies on account, $120.
f. 9/22: Purchased gas on account, $200.
g. 9/23: Performed the trucking service and received cash of $1,200.
h. 9/24: Paid $100 cash for 9/21 office supplies purchased on account.
i. 9/30: Paid cash dividends to shareholders total of $800.
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