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I already have #1 done, please perform 2-5. Journal entries and trial balance Chart of Accounts Journal Ledger Unadjusted Trial Balance Final Question Instructions On
I already have #1 done, please perform 2-5.
Journal entries and trial balance Chart of Accounts Journal Ledger Unadjusted Trial Balance Final Question Instructions On November 1, 2018, Kris Lehman established an interior decorating business, Modern Designs. During the month, Kris completed the following transactions related to the business: Nov. Kris transferred cash from a personal bank account to an account to be used for the business in exchange for common stock, $36,000. 1 1 Paid rent for period of November 1 to end of month, $4,000. 6 Purchased office equipment on account, $16,000. 8 Purchased a truck for $43,000 paying $4,300 cash and giving a note payable for the remainde 10 Purchased supplies for cash, $1,860. 12 Received cash for job completed, $8,000 15 Paid annual premiums on property and casualty insurance, $2,400. 23 Recorded jobs completed on account and sent invoices to customers, $15,500 24 Received an invoice for truck expenses, to be paid in November, $1,250. Enter the following transactions on Page 2 of the two-column journal: Nov. 29 29 30 30 30 30 Paid utilities expense, $3,660 Paid miscellaneous expenses, $1,700. Received cash from customers on account, $10,500. Paid wages of employees, $4,750. Paid creditor a portion of the amount owed for equipment purchased on November 6, $4,000 Paid dividends, $1,600. Required: Journa ze each transaction in a two-column debited and credited. (Do not insert the post reference numbers until you have posted the entry to the general ledger in part 2.) Refer to the Chart of Accounts for exact wording of account titles. 1 urnal beginning on Page 1 referring to the charto accounts in selecting the accounts to be 2. Post (in chronological order) the journal to a ledger of four-column accounts, inserting appropriate posting references in both the journal and theStep by Step Solution
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