Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Assignment - Include a professional title page with your name, student number and sign mo. Record each transaction in the general journal (enclosed below), using

image text in transcribed
Assignment - Include a professional title page with your name, student number and sign mo. Record each transaction in the general journal (enclosed below), using the second tide given in the question (sce Part B). Explanations are required. Post eachtraction to the general ledger Prepare a trial balance as a July 31, 2028 July 1 Purchased office equipment for $9,000 and struck for 556,000 on sccount 2 Purchased land for an office. The land was worth $124,000 which was paid with S40,800 cash and long-term note payable for the balance. The land is appraised at $140,000 3 Purchased a used portable building for $21.000. 5 Paid 59,600 cash for the premiums insurance policy commencing August 1. 9 Provided service for a customer for $3,200. 12 Purchased office equipment for $6,500 paying $700 in cash the reminder on a long term notes payable.65 15 Invoiced a customer for $3,750 for work completed, payable in 30 days. 20 Completed a job for 59,200 on credit 21 Received an invoice for $1.300 on account for rental of truck for a special job. 22 Collect $5,000 of the $9,200 from the job on July 20. 23 Paid wages to assistant in the amount of $1,600, 24 Paid the rental of truck from July 21 transaction 25 Paid $1.425 cash for repairs to trucks 26 Paid $3,875 for repairs to the owner's house 27 Paid S600 for office supplies to be use over the next 30 days. 28 Paid $800 for advertising in local paper on July 30 29 Received $1,400 from a client for service to be performed in August Part B - Part 2 - Post to general ledger. Only the transactions to Cash (101) $75,000, Accounts Payable (201) $725, Fees Eamed (401) $8,400 and Wages Expense (523) to be posted to the general ledger. Do not post all the transactions, only those denoted above. Note the items in above, are the account number for each account, the amount (if noted) represents the balance forward for those accounts nhle Pranaid Insurance: Truck Office

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

Fundamentals Of International Financial Accounting And Reporting

Authors: Roger Hussey

1st Edition

9814280232, 9789814280235

More Books

Students also viewed these Accounting questions

Question

Explain the various kinds of retirement plans.

Answered: 1 week ago

Question

Explain workplace flexibility (work-life balance).

Answered: 1 week ago

Question

Discuss global issues in employee benefits.

Answered: 1 week ago