Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I am trying to figure out where i messed up on my ledger and trial balance. Please help! Thanks! William Coleman Principles of Accounting I

I am trying to figure out where i messed up on my ledger and trial balance. Please help! Thanks!image text in transcribedimage text in transcribed

William Coleman Principles of Accounting I Your Name: Date Score Points Tutor Chapter 2 (part 2 of 4) Submitted Initials Written Cycle Project Instructor: Version 21 Instructions: Record these transactions in the general journal for Bear Advertising Inc. Then post your journal entries in the t-accounts provided and prepare a trial balance. You may want to refer to Part 1 of this project where you have already analyzed these transactions, General Journal Account PR Debit Credit Date 8/1 SIDOO Cash Common Stack 11.00 6/4 Casu 3.00 Prepaid Insurance (6 montes) 3.60 8/7 3.00 3. Noves Pasure ,o 3,000 3.000 70cc 8/1 You invested $11,000 in exchange for common stock to start Bear Advertising Inc. 8/4 Purchased 6 months of insurance for $3000 cash 817 Purchased $6,000 of computer equipment by paying $3,000 in cash and signing a one year note payable for the rest 8/10 Purchased $3,000 of advertising supplies for cash 8/13 A customer paid $7,000 in cash for advertising services performed today. 8/17 Received a utility bill for $750 and decided to pay it later. 8/20 A customer paid $5000 for advertising services to be performed in the future 8/23 Paid half of the accounts payable from 8/17 8/25 Performed advertising services and charged the customer $9,000 on account (to be paid later). 8/28 Received half the balance from the 8/25 customer in cash 8/31 Paid $3,000 in dividends. 2,000 750 750 SOS 1375 18/10 Cash Advertising Supplies 8/13 Cash Advertising Revenue (8/12 Advertising Revenue Accounts Payable 8/20 Accounts Receivable voca med Revsove 18123 Cash Accounts Payable 8/25 Advertising Services vreaned Revenue 8120 Accounts Receivable Advertising Revenue 18131 Cash Dividends TOTAL: 325 q, too yo 4,500 13.000 3.000 52.625 52,625 Prepaid Insurance Bear Advertising Inc Triat Briance August 31, 2021 Credit Debir 30.375 9,500 3,000 3.000 6.000 Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accounts Payable Notes Poyare Cheamed Revenue Common Stock Dividends Advertising Cevenue #1,125 3.000 14.00 1.Dos 3,000 10,750 otes Payable Dividends Totals: 51,875 42,875

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

Accounting For Deferred Income Taxes

Authors: Bobby Carmichael

2nd Edition

1119724562, 9781119724568

More Books

Students also viewed these Accounting questions