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ACG 2 0 1 1 Milestone Assignment # 1 Instructions Version 2 3 . A table [ [ , , 3 1 ] ,
ACG Milestone Assignment # Instructions Version A
tableCash,Accounts receivable,All. for doubtful accts,Supplies,Prepaid rent,Equipment,Acc. depr. Equip.,Van,Acc. depr. Van,Notes payable,Accounts payable,Unearned revenue,Wages payable,
J Harris, Capital
J Harris, Drawing
S Grant, Capital
S Grant, Drawing
Services revenue
Wages expense
Bad debt expense
Rent expense
Utilities expense
Van expense
Supplies expense
Interest expense
Depreciation expense
Miscellaneous expense
Income summary
Step : Journalize the following transactions.
Enter the following on page of the general journal.
Dr
June J Harris contributes cash of $ and accounts receivable of $ to a new partnership, Top Tier Interior Design. S Grant contributes $ cash and $ of supplies to the partnership. The partners agree that $ is a reasonable amount for the allowance for doubtful accounts for the contributed accounts receivable.
Concra
Interest payable
Paid rent for the June through August, $
Purchased equipment paying cash, $
Purchased a used van for $ The partnership paid $ cash as a down payment and signed a note for the remainder.
Received an advance payment of $ for services to be provided in the future.
Purchased supplies on credit, $
Received cash for job completed, $
Recorded jobs completed on account and sent invoices to customers, $
Received an invoice in the mail for vanrelated expenses, to be paid in September $
Paid miscellaneous expenses, $
Paid utilities expense, $
Enter the following on page of the general journal.
Paid wages of employees, $
The partners agree to write off $ of their accounts receivable as uncollectible.
Received cash from customers on account, $
Paid creditor a portion of the amount owed for supplies purchased earlier in the month, $
J Harris withdrew cash for personal use, $
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