Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

help me appropriate accounts to record to as you are analyzing and journaling transactions for this workbook. There is nothing to complete on this page;

help me appropriate accounts to record to as you are
analyzing and journaling transactions for this
workbook. There is nothing to complete on this page;
this is simply a resource for you. Journal Entry Tips
The debited account is recorded first, credited account recorded second.
Debits and credits must always equal!
There can be compound entries in which two accounts receive a debt to an equivalent credited amount to one account. Be sure to use your chart of accounts (the first page of this workbook).
Each account you will record to is already listed and organized by classification of the account.
Posting to the ledger/t accounts
Don'toverthink it!
You are just posting each debit and credit from the journal entries to the account you identified in the entry.
These accounts are set to calculate your balances for you.
Please be careful not to delete the running totals as those will calculate the ending balance.
The ending balance will transfer to the Trial Balance sheet.
If you have posted all entries and your trial balance is not in balance (total debits = total credits), this means that there is an error.
Telechone Expense
Advertising Expense
Depreciation Expense
Depreciation ExpenseA Company
Income Statement
For Month ending 06/30/20XX
Revenues
Operating Expenses:
image text in transcribed

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

Intermediate Accounting

Authors: James D. Stice, Earl K. Stice, Fred Skousen

16th Edition

324376375, 0324375743I, 978-0324376371, 9780324375749, 978-0324312140

More Books

Students also viewed these Accounting questions