Question
Can someone help me with creating a General Ledger using the following information? I need it to be answer in excel format (not handwritten) Thanks
Can someone help me with creating a General Ledger using the following information? I need it to be answer in excel format (not handwritten) Thanks in advance! Please show the formulas to enter into excel columns wherever needed.
Date | Account Titles | Debit | Credit |
3-Oct | Equipment | $3,456 |
|
| Cash |
| $3,456 |
| (To record purchase of Equipment) |
|
|
5-Oct | Accounts Receivables | $34,567 |
|
| Service Revenue |
| $34,567 |
| (Being customers billed for services provided) |
|
|
6-Oct | Accounts Payable | $700 |
|
| Cash |
| $700 |
| (Being partial payables paid off) |
|
|
7-Oct | Prepaid Legal Expenses | $1,200 |
|
| Cash |
| $1,200 |
| (Being retainer fees paid) |
|
|
11-Oct | Electricity Expense | $615 |
|
| Electricity Payable |
| $615 |
| (Being electricity bill received and due) |
|
|
11-Oct | Cash | $10,000 |
|
| Accounts Receivables |
| $10,000 |
| (Being cash received from debtors) |
|
|
11-Oct | Telephone Expenses | $350 |
|
| Telephone Payable |
| $350 |
| (Being telephone bill received and due) |
|
|
12-Oct | Electricity Payable | $615 |
|
| Cash |
| $615 |
| (Being electricity bill paid) |
|
|
14-Oct | Cash Dividends | $4,800 |
|
| Dividends Payable |
| $4,800 |
| (Being cash dividends declared) |
|
|
17-Oct | Legal Expenses | $800 |
|
| Prepaid Legal Expenses |
| $800 |
| (Being legal expenses adjusted) |
|
|
18-Oct | Dividends Payable | $4,800 |
|
| Cash |
| $4,800 |
| (Being dividends paid) |
|
|
25-Oct | Investment in shares of Company C | $30,000 |
|
| Cash |
| $30,000 |
| (Being 15000 shares acquired) |
|
|
31-Oct | Supplies Expense | $550 |
|
| Supplies |
| $550 |
| (Being supplies Expense recorded) |
|
|
31-Oct | Depreciation Expense | $87.67 |
|
| Accumulated Depreciation |
| $87.67 |
| (Being one month depreciation on equipment charged) |
|
|
31-Oct | Cash Dividends | $75,000 |
|
| Cash |
| $75,000 |
| (Being dividends paid) |
|
|
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