Question
hi can you help me match them? Using the information given for Serious Supply Corporation , select the appropriate journal entry for each transaction. Next,
hi can you help me match them?
Using the information given for Serious Supply Corporation, select the appropriate journal entry for each transaction. Next, match all unused journal entries to "Not Used - Match all unused journal entries to this item".
DR = Debit CR = Credit
| 1. | Company purchased inventory on account |
| 2. | Company sold/provided services for cash |
| 3. | Company recorded depreciation on equipment for the period |
| 4. | Company paid NEXT YEARs insurance premium |
| 5. | Company paid vendor for a prior purchase on account |
| 6. | Company paid utility bill |
| 7. | Company received cash deposit from customer for work to be performed in the future |
| 8. | Company received payment on previous sale made on account |
| 9. | Company purchased machinery with a note |
| 10. | Company issued a bond at face value |
| 11. | Company paid interest due on bond issued at face value |
| 12. | Company issued common stock at par value |
| 13. | Company issued common stock at par value in exchange for a building |
| 14. | Company declared a dividend on common stock |
| 15. | Company paid a previously declared dividend on common stock |
| 16. | Company disposed of equipment that was fully depreciated (no residual) |
| 17. | Company uses the percent of sales method and records estimated bad debts. |
| 18. | Company recorded closing entry for revenue account |
| 19. | Company recorded closing entry for expense account |
| 20. | Companys bank statement indicated a service charge that had not previously been recorded |
| 21. | Not Used - Match all unused journal entries to this item. |
DR UNEARNED REVENUE CR CASH
DR UNEARNED REVENUE
CR CASH
DR ACCUMULATED DEPRECIATION
CR DEPRECIATION EXPENSE
DR SERVICE CHARGE EXPENSE
CR CASH
DR EXPENSE
CR RETAINED EARNINGS
DR COMMON STOCK
CR CASH
DR CASH
CR PREPAID INSURANCE
DR ACCOUNTS RECEIVABLE
CR CASH
DR CASH
CR ACCOUNTS PAYABLE
DR CASH
CR INTEREST EXPENSE
DR RETAINED EARNINGS
CR REVENUE
DR CASH
CR SERVICE REVENUE
DR BUILDING
CR COMMON STOCK
DR INTEREST EXPENSE
CR CASH
DR CASH
CR COMMON STOCK
DR NOTES PAYABLE
CR MACHINERY
DR INVENTORY
CR ACCOUNTS PAYABLE
DR RETAINED EARNINGS
CR EXPENSE
DR CASH
CR DIVIDEND PAYABLE
DR DEPRECIATION EXPENSE
CR ACCUMULATED DEPRECIATION
DR DIVIDEND PAYABLE
CR RETAINED EARNINGS
DR CASH
CR ACCOUNTS RECEIVABLE
DR PREPAID INSURANCE
CR CASH
DR DIVIDEND PAYABLE
CR CASH
DR CASH
CR SERVICE CHARGE EXPENSE
DR COMMON STOCK
CR BUILDING
DR ACCOUNTS PAYABLE
CR CASH
DR CASH
CR UTILITIES EXPENSE
DR ACCOUNTS PAYABLE
CR INVENTORY
DR CASH
CR UNEARNED REVENUE
DR SERVICE REVENUE
CR CASH
DR CASH
CR BOND PAYABLE
DR RETAINED EARNINGS
CR DIVIDEND PAYABLE
DR MACHINERY
CR NOTES PAYABLE
DR REVENUE
CR RETAINED EARNINGS
DR BAD DEBTS EXPENSE
CR ALLOWANCE FOR BAD DEBTS
DR EQUIPMENT
CR ACCUMULATED DEPRECIATION
DR UTILITIES EXPENSE
CR CASH
DR ACCUMULATED DEPRECIATION
CR EQUIPMENT
DR BOND PAYABLE
CR CASH
DR ALLOWANCE FOR BAD DEBTS
CR BAD DEBTS EXPENSE
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Wiley GAAP For Governments 2020: Interpretation And Application Of Generally Accepted Accounting Principles
Authors: Warren Ruppel
1st Edition
1119596068, 978-1119596066
