Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

General Journal Entries Diane Bernick has opened Bernick's Consulting. Journalize the following transactions that occurred during January of the current year. Use the following chart

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
General Journal Entries Diane Bernick has opened Bernick's Consulting. Journalize the following transactions that occurred during January of the current year. Use the following chart of accounts: Chart of Accounts Assets Revenues 101 401 Consulting Fees 142 Cash Office Supplies Office Equipment 181 Liabilities Expenses 511 Wages Expense 521 Rent Expense 525 Phone Expense 533 Utilities Expense 549 Miscellaneous Expense 202 Accounts Payable Owner's Equity 311 Diane Bernick, Capital Diane Bernick, Drawing 312 Jan. 1 Bernick invested cash in the business, $11,000 2 Paid office rent, $750. 3 Purchased office equipment on account, $1,200. Sarare acharner rendere con Jan. 1 Bernick invested cash in the business, $11,000. 2 Paid office rent, $750. 3 Purchased office equipment on account, $1,200. 5 Received cash for services rendered, $900. 8 Paid phone bill, $55. 10 Paid for a magazine subscription (miscellaneous expense), $15. 11 Purchased office supplies on account, $250. 15 Made a payment on account (see Jan. 3 transaction), $250. 18 Paid part-time employee, $500. 21 Received cash for services rendered, $800. 25 Paid utilities bill, $80. 27 Bernick withdrew cash for personal use, $350. 29 Paid part-time employee, $500. 1. Prepare the General Journal for January 1-10, page 1. Page: DATE ACCOUNT TITLE DOC. POST. NO. REF DEBIT CREDIT Jan. 1 1. Prepare the General Journal for January 1-10, page 1. Page: DATE ACCOUNT TITLE DOC. POST. NO. REF. DEBIT CREDIT 1 Jan. 1 1 2 2 3 3 4 Jan. 2. 4 5 5 6 7 Jan. 3 IN O 8 8 9 9 10 Jan. 5 10 11 11 11 12 12 13 Jan. 8 13 14 14 15 15 16. Jan. 10 6 17 17 DATE ACCOUNT TITLE DOC. POST. NO. REF. DEBIT CREDIT 1 Jan. 11 I 2 2 3 4 Jan. 15 4 5 | 10 7 Jan. 18 8 8 9 ai 10 Jan. 21 10 11 12 12 13 Jan. 25 13 14 14 15 15 16 Jan. 27 16 17 17 18 18 19 Jan. 29 19 20 20

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

Students also viewed these Accounting questions

Question

What is flash memory?

Answered: 1 week ago

Question

Explain methods of metal extraction with examples.

Answered: 1 week ago

Question

Does it have correct contact information?

Answered: 1 week ago