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How to reprodecu both of these on a piece of paper such A4, ppt and etc DO IT! 2 Recording Business Activities DO IT! 3

How to reprodecu both of these on a piece of paper such A4, ppt and etc

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DO IT! 2 Recording Business Activities DO IT! 3 Posting Kate Browne engaged in the following activities in establishing her salon, Hair It Is: 1. Opened a bank account in the name of Hair It Is and deposited $20,000 of her own Kate Browne recorded the following transactions in a general journal during the month money in this account as her initial investment. of March. 2. Purchased equipment on account (to be paid in 30 days) for a total cost of $4,800. Mar. 4 Cash 2,280 2,280 3. Interviewed three people for the position of hair stylist. Service Revenue 15 400 Prepare the entries to record the transactions. Salaries and Wages Expense Cash 400 Solution 19 Utilities Expense 92 Action Plan Cash 92 The three activities would be recorded as follows. Understand which Post these entries to the Cash account of the general ledger to determine its ending 1. Cash 20,000 activities need to be recorded and which balance. The beginning balance of Cash on March I was $600. Owner's Capital 20,000 Action Plan (Owner's investment of cash in business) do not. Any that affect assets, liabilities, or Solution Recall that posting involves transferring 2. Equipment 4,800 owner's equity should Cash the journalized debits Accounts Payable 4,800 be recorded in a journal. 3/1 Bal. 600 3/15 and credits to specific (Purchase of equipment on account) 400 3/4 3/19 92 3. No entry because no transaction has occurred. Analyze the effects of 2,280 accounts in the ledger. Determine the ending transactions on asset, 3/31 Bal 2,388 balance by netting liability, and owner's the total debits and Related exercise material: BE2-3, BE2-4, BE2-5, BE2-6, E2-3, E2-5, E2-6, E2-7, and comm 2-2. equity accounts. Related exercise material: BE2-7, BE2-8, E2-8, E2-12, and Dom 2-3. credits

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