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Geo Inc. had the following account balances on January 1, Year 2: Accounts Payable Accounts Receivable Cash Common Stock Equipment Notes Payable Retained Earnings Salaries
Geo Inc. had the following account balances on January 1, Year 2: Accounts Payable Accounts Receivable Cash Common Stock Equipment Notes Payable Retained Earnings Salaries and Wages Expense Supplies $ 731 2,400 2,400 20,000 3,300 4,600 4,661 4,900 1,780 A. Paid $731 on account for utilities that were used during December Year 1. B. Purchased $493 of supplies for cash. C. Signed a rental agreement for office space and paid $6,300 in advance for six months of rent beginning February 1, Year 2. D. Purchased $18,500 of new equipment, signing a promissory note. E. Provided $33,000 of services. $21,000 was received in cash and $12,000 was provided on credit. F. Paid workers $7,600 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.) General Journal I Accounts Prepare journal entries for each of the following January activities. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list View journal entry worksheet General Journal Credit No Transaction 1A Debit 731 Utilities Expense Cash 731 2 B 493 Supplies Cash 493 C 8,300 Prepaid Rent Cash 8,300 D 18,500 Equipment Accounts Payable 18,500 5 Cash Accounts Receivable Service Revenue 21,000 12,000 33.000 6 F 7,600 Salaries and Wages Expense Cash 7,600 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. Balo End. Bal o l Supplies Prepaid Rent Beg. Bal. Beg. Bal. End. Bal 0 End. Bal 01 Equipment Accounts Payable Beg. Bal. Beg. Bal. r End. Bal. 01 End. Bal. O Notes Payable Common Stock Beg. Bal. Beg. Bal. End. Bal. End. Bal. Retained Earnings Service Revenue Beg. Bal. Beg. Bal. End, Bal End. Bal. 0 Salaries and Wages Expense Beg. Bal. End. Bal. 0
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