Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Hello, the question is: why is the P.R. Column blank? A) we need to import that information from the chart of accounts. B)we need to

Hello, the question is: why is the P.R. Column blank? A) we need to import that information from the chart of accounts. B)we need to gather the source documents. C)it is unnecessary until doing a balance sheet. Dyed general ledger has not been made yet. Please give me correct answer and explanation. I choose A. but I don't know if it's right or wrong. The options are a little confusing between A and D. Please help.thank you .

image text in transcribed
Tom's Web Services - General Journal Page J1 Date Account Title Doc No. P.R Debit Credit June 1, 2018 Cash D1 $ 20,000.00 Owner's Equity $20,000.00 Owner started business June 1, 2018 Supplies D2 50.00 Cash $ 50.00 Bought paper and pens June 1, 2018 Equipment D3 $ 3,200.00 Cash $ 3,200.00 Bought computer systems June 1, 2018 Equipment D4 $ 4,000.00 A/P $ 4,000.00 Bought Furniture June 5, 2018| Cash DS $ 10,000.00 Long-Term Debt $ 10.000.00 Borrowed from lender June 10, 2018 A/P D6 $ 165.00 Cash Paid for phone and internet install $ 165.00 June 12, 2018 Advertising D7 Cash $ 28.00 S Took out Facebook ads 28.00 June 15, 2018 Rent D8 Cash $1 220.00 Paid Landlord $ 1,220.00 June 17, 2018 Cash D9 Sales Income S 670.00 Payment for web site work $ 670.00 June 30. 2018 Loan Payment Long Term Debt D10 Cash 215.00 Made loan payment $ 215.00

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

Ethical Obligations And Decision Making

Authors: Steven Mintz

1st Edition

0078025281, 9780078025280

More Books

Students also viewed these Accounting questions

Question

Wear as little as possible

Answered: 1 week ago

Question

Be relaxed at the hips

Answered: 1 week ago