Answered step by step
Verified Expert Solution
Question
1 Approved Answer
After journalizing entries, information can be entered into T-Accounts and/or the four-column ledger. Enter the information from the T-Account and calculate the running balance in
After journalizing entries, information can be entered into T-Accounts and/or the four-column ledger. Enter the information from the T-Account and calculate the running balance in the appropriate place in the four-column ledger to review the similarities between the two formats. Cash Account No. 101 Cash Balance Nov. 1 41,600 11,800 Nov. 2 Date Item Post. Ref. Debit Credit Debit Credit Nov. 8 17,700 7,100 Nov. 15 2016 Nov. 22 29,500 7,600 Nov. 21 J1 Dec. 21 15,300 15,100 Nov. 25 J1 Dec. 28 14,100 6,500 Dec. 1 2,900 Dec. 3 J1 8,200 Dec. 15 J1 Bal. 59,000 J1 J1 J1 J1 J1 J1 J1 J1 Post the transaction to the four-column ledger account and complete the journal entry. Journal Page 1 Date Accounts and Explanation Post. Ref. Debit Credit 2016 Nov. 1 Cash 10,000 Bright, Capital 10,000 Owner Contribution. Cash Account No. 101 Balance Date Item Post. Ref. Debit Credit Debit Credit 2016 Bright, Capital Account No. 301 Balance Date Item Post. Ref. Debit Credit Debit Credit 2016 Use the information provided in Line journal entry to post the transaction to the lacount. Pust in DR/CR order. Date Accounts and Explanation Debit Credit No. 2 Accounts Payable 49.000 Cash WWW. Dal ALL and Explanation Credit Nu..4 Prepaid Rent 29200 38,700 Arrows for rent Date Accounts and explanation Debit Credit Nr. 7 33,200 Bright Capita Bright want nie Arcounts and Explanation Noi Con 15,000 nearned 15.000 Coafor Date Accounts and Explanation Debit Credit NIM Inak 75,00 15,700 www.corriko After journalizing entries, information can be entered into T-Accounts and/or the four-column ledger. Enter the information from the T-Account and calculate the running balance in the appropriate place in the four-column ledger to review the similarities between the two formats. Cash Account No. 101 Cash Balance Nov. 1 41,600 11,800 Nov. 2 Date Item Post. Ref. Debit Credit Debit Credit Nov. 8 17,700 7,100 Nov. 15 2016 Nov. 22 29,500 7,600 Nov. 21 J1 Dec. 21 15,300 15,100 Nov. 25 J1 Dec. 28 14,100 6,500 Dec. 1 2,900 Dec. 3 J1 8,200 Dec. 15 J1 Bal. 59,000 J1 J1 J1 J1 J1 J1 J1 J1 Post the transaction to the four-column ledger account and complete the journal entry. Journal Page 1 Date Accounts and Explanation Post. Ref. Debit Credit 2016 Nov. 1 Cash 10,000 Bright, Capital 10,000 Owner Contribution. Cash Account No. 101 Balance Date Item Post. Ref. Debit Credit Debit Credit 2016 Bright, Capital Account No. 301 Balance Date Item Post. Ref. Debit Credit Debit Credit 2016 Use the information provided in Line journal entry to post the transaction to the lacount. Pust in DR/CR order. Date Accounts and Explanation Debit Credit No. 2 Accounts Payable 49.000 Cash WWW. Dal ALL and Explanation Credit Nu..4 Prepaid Rent 29200 38,700 Arrows for rent Date Accounts and explanation Debit Credit Nr. 7 33,200 Bright Capita Bright want nie Arcounts and Explanation Noi Con 15,000 nearned 15.000 Coafor Date Accounts and Explanation Debit Credit NIM Inak 75,00 15,700 www.corriko
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started