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Geo Inc. had the following account balances on January 1, Year 2: Accounts Payable $ 734 Accounts Receivable 2,500 Cash 25, eee Common Stock 25,000
Geo Inc. had the following account balances on January 1, Year 2: Accounts Payable $ 734 Accounts Receivable 2,500 Cash 25, eee Common Stock 25,000 Equipment 5, eee Notes Payable 4,800 Retained Earnings 3,866 Salaries and Wages Expense e Supplies 1,900 During January, Year 2, Geo entered into the following transactions: A. Pald $734 on account for utilities that were used during December, Year 1 B. Purchased $498 of supplies for cash. C. Signed a rental agreement for office space and paid $6,500 in advance for six months of rent beginning February 1. Year 2 D. Purchased $25,000 of new equipment, signing a promissory note E. Provided $33,500 of services $19,500 was received in cash and $14,000 was provided on credit F Paid workers $7,800 for work done in January Required: Prepare Journal entries for each of the following January activities, and post results to the relevant T-accounts. Compute the ending balance of each T-account Beginning balances have been entered (if no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Com the main antarane in that he Entry Required" in the first account field.) View transaction list Journal entry worksheet Post results to the relevant T-accounts. Compute the ending balance of each T-account. Beginning balances have been entered. Cash Accounts Receivable Beg. Bal. Beg. Bal. End. Bal. End, Bal Supplies Prepaid Rent Beg Bal. Beg. Bal 0 End, Bal End, Bal Equipment Accounts Payable Beg. Bal. Beg. Bali End. Bal. 0 End. Bal 0 Notes Payable Common Stock Beg. Bal. Beg. Bal. End, Bal. 0 End. Bal 0 Retained Earnings Service Revente Beg Bal Bog Bal Retained Earnings Service Revenue Beg. Bal Beg. Bal. 0 End. Bal 0 End. Bal. Salaries and Wages Expense Beg Bal. End. Bal. 0
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