Answered step by step
Verified Expert Solution
Question
1 Approved Answer
how do i record these entries in the general ledger? Date Title Debit Credit Cash $ 16,000 Equipment $ 10,200 Capital $ 26,200 (To record
how do i record these entries in the general ledger?
Date | Title | Debit | Credit |
Cash | $ 16,000 | ||
Equipment | $ 10,200 | ||
Capital | $ 26,200 | ||
(To record receipt of cash and equipment as capital) | |||
Prepaid rent | $ 2,400 | ||
Cash | $ 2,400 | ||
(To record prepayment of rent) | |||
Office equipment | $ 12,000 | ||
Accounts payable - Lang Corp | $ 12,000 | ||
(To record purchase of office equipment on account) | |||
Supplies | $ 300 | ||
Cash | $ 300 | ||
(To record purchase of supplies for cash) | |||
Cash | $ 8,000 | ||
Service revenue | $ 8,000 | ||
(To record collection from plowing) | |||
Withdrawals | $ 8,000 | ||
Cash | $ 8,000 | ||
(To record withdrawals by owner) | |||
Accounts receivable | $ 5,000 | ||
Service revenue | $ 5,000 | ||
(To record service rendered in account) | |||
Salaries expenses | $ 2,200 | ||
Cash | $ 2,200 | ||
(To record payment of salaries expense) | |||
Accounts payable - Lang Corp ($12,000/2) | $ 6,000 | ||
Cash | $ 6,000 | ||
(To record paymentof half amount on account) | |||
Advertising expenses | $ 800 | ||
Accounts payable | $ 800 | ||
(To record advertising expense on account) | |||
Telephone expenses | $ 140 | ||
Cash | $ 140 | ||
(To record payment of telephone expenses |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started