Assets Liabilities + Accounts + Receivable + Supplies 3,400 Cash Stockholders' Equity Common Retained Stock Earnings 5,800 3,850 Accounts Payable 7,800 + + Equipment 12,000 + Bal 2,050 Assets Liabilities + Accounts + Receivable + Supplies + Equipment = 3,400 12,000 Accounts Payable 7,800 Common Stock 5,800 4,100 Cash Bal 2,050 (a) 4,100 (b) 6,600 (c) (4,400) (d) Stockholders' Equity Retained Type of Equity + Earnings Transaction 3,850 Issued stock 6,600 Service revenue (4,400) 1,300 1,300 (e) 1,800 (1,800) The following amounts summarize the financial position of Raymour Computing, Inc., on September 30, 2018: (Click the icon to view the September 30, 2018 financial position.) During October 2018, Raymour Computing completed these transactions: (Click the icon to view the transactions.) Raymour Computing, Inc. performed a transactional analysis to determine the effects of the transactions on their accounting equation. (Click the icon to view the completed accounting equation analysis.) Read the requirements. Requirement 1. Journalize the transactions of Raymour Computing, Inc. (Record debits first, then credits. Exclude explanations from any journal entries.) a. The company received cash of $4,100 and issued common stock. Journal Entry Accounts Debit Credit (a) b. Performed services for a customer and received cash of $6,600. Journal Entry Accounts Debit Credit (b) c. Paid $4,400 on accounts payable. Journal Entry Accounts Debit Credit (c) d. Purchased supplies on account, $1,300. Journal Entry Accounts Debit Credit (d) e. Collected cash from a customer on account, $1,800. Journal Entry Accounts Debit Credit (e) f. Consulted on the design of a computer system and billed the customer for services rendered, $3,900. Journal Entry Accounts Debit Credit (f) g. Recorded the following business expenses for the month: (1) paid office rent-$1,100; (2) paid advertising$550. Journal Entry Accounts Debit Credit (9) h. Declared and paid a cash dividend of $3,100. Journal Entry Accounts Debit Credit (h) Requirements 2 and 3. Prepare T-Accounts for each account. Insert in each T-account its September 30 balance as given (example: Cash $2,050). Then, post the October transactions to the T-accounts. Compute the balance in each account. Begin by entering the appropriate beginning balances and posting transactions (a) through (h). Label each balance and transaction with the appropriate posting reference. Finally, label and calculate each ending balance. (For accounts with a zero beginning balance, do not enter a "0" or select the "Bal" reference.) Review the journal entries from Requirement 1. Cash Common Stock Choose from any list or enter any number in the input fields and then continue to the next question. ? Accounts Receivable Retained Earnings Dividends - - Supplies - Equipment Service Revenue Accounts Payable Rent Expense Advertising Expense
