Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Analyze each transaction for its effects on the account. Transfer the journal information to the appropriate accounts in the ledger account. 1- October 1, office

Analyze each transaction for its effects on the account. Transfer the journal information to the appropriate accounts in the ledger account.

  1. 1- October 1, office rent for October is paid in cash $900.00.

  2. 2- October 1, office equipment costing $5,000 is purchased by signing a 3-month, 12%,

    $5,000 note payable.

  3. 3- October 1, Bryad Company invest $10,000 cash in advertising venture to be known as the

    Pioneer Advertising Agency.

  4. 4- Bird Company purchases a delivery truck costing $14,000 by paying $8,000 and the

    balance on account (to be paid later).

  5. 5- Opened a bank account in the name of Hair Company and deposited $20,000 of her own

    money in this account as her initial investment.

  6. 6- Invest $20,000 cash in the business.

  7. 7- Withdrew $700 cash for personal use.

  8. 8- Paid $1,200 for one year accident insurance policy.

  9. 9- Purchased washers and dryers for $25,000 paying $10,000 in cash and signing a $15,000,

    6-month, 12% note payable.

  10. 10- Received $700 Cash from customers billed on January 11.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Cost Accounting An Introduction To Cost Management Systems

Authors: Philip Jagolinzer

1st Edition

0324015828, 978-0324015829

More Books

Students also viewed these Accounting questions

Question

Differentiate tan(7x+9x-2.5)

Answered: 1 week ago

Question

Explain the sources of recruitment.

Answered: 1 week ago

Question

Differentiate sin(5x+2)

Answered: 1 week ago

Question

Compute the derivative f(x)=1/ax+bx

Answered: 1 week ago

Question

What are our strategic aims?pg 87

Answered: 1 week ago