Question
I need help with 1) general ledger T accounts and 2) financial statements for Nonprofits!? These are the journal entries- I need help with posting
I need help with 1) general ledger T accounts and 2) financial statements for Nonprofits!?
These are the journal entries- I need help with posting these journal entries to a general ledger (t accounts) that has "FUND BALANCE" instead of equity.
| Debit | Credit | |||
| General Fund | ||||
| 1 | Cash | $ 100,000.00 | ||
| grant revenue | $ 100,000.00 | |||
| 2 | Computer expenditure (5 * 2000) | $ 10,000.00 | ||
| Cash | $ 10,000.00 | |||
| 3 | Wages expenditure | $ 6,000.00 | ||
| cash | $ 6,000.00 | |||
| 4 | Cash | $ 24,000.00 | ||
| proceeds from borrowing | $ 24,000.00 | |||
| 5 | Automobile expenditure | $ 24,000.00 | ||
| cash | $ 24,000.00 | |||
| 6 | Interest expenditure | $ 200.00 | ||
| cash | $ 200.00 | |||
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Foundations Of Finance
Authors: Arthur J. Keown, John H. Martin, J. William Petty
9th Edition
9780134083285
