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I'm not understanding exercise 2-7, Could you please help me out? Brief Exercise 2-7 Selected transactions for the Joel Berges Company are presented in journal

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I'm not understanding exercise 2-7, Could you please help me out?image text in transcribed

Brief Exercise 2-7 Selected transactions for the Joel Berges Company are presented in journal form below. Date May 5 12 15 Account Titles and Explanation Ref. Accounts Receivable Service Revenue (Billed for services performed) Cash Accounts Receivable (Received cash in payment of account) Cash Service Revenue (Received cash for services performed) Debit Credit 4,100 4,100 2,400 2,400 3,000 3,000 Post the transactions to T-accounts and determine each account's ending balance. (Post entries in the order presented in the problem statement.) Cash Accounts Receivable Service Revenue Brief Exercise 2-10 An inexperienced bookkeeper prepared the following trial balance. HUEWITT COMPANY Trial Balance December 31, 2014 Cash Prepaid Insurance Accounts Payable Unearned Service Revenue Debit $10,800 Credit $3,500 3,000 2,200 Owner's Capital Owner's Drawings Service Revenue Salaries and Wages Expense Rent Expense 9,000 4,500 25,600 18,600 2,400 $31,600 $48,000 Prepare a correct trial balance, assuming all account balances are normal. HUEWITT COMPANY Trial Balance December 31, 2014 Debit Credit $ Total $ $ $ Exercise 2-7 (Part Level Submission) Kahl Enterprises had the following selected transactions. 1 . 2 . 3 . 4 . Jo Kahl invested $4,000 cash in the business. Paid office rent of $950. Performed consulting services and billed a client $5,200. Jo Kahl withdrew $750 cash for personal use. Don't show me this message again for the assignment (a) Indicate the effect each transaction has on the accounting equation, using plus and minus signs. Assets = 1. = 2. = 3. = 4. Liabilities + Owner's Equity = Exercise 2-8 Janet Miyoshi has prepared the following list of statements about the general ledger. Identify each statement as true or false. 1 The general ledger contains all the asset and liability accounts but no owner's equity . accounts. 2 The general ledger is sometimes referred to as simply the ledger. . 3 . The accounts in the general ledger are arranged in alphabetical order. 4 . Each account in the general ledger is numbered for easier identification. 5 . The general ledger is a book of original entry. Exercise 2-8 Janet Miyoshi has prepared the following list of statements about the general ledger. Identify each statement as true or false. 1 The general ledger contains all the asset and liability accounts but no owner's equity . accounts. 2 . The general ledger is sometimes referred to as simply the ledger. 3 . The accounts in the general ledger are arranged in alphabetical order. 4 . Each account in the general ledger is numbered for easier identification. 5 . The general ledger is a book of original entry. Exercise 2-10 (Part Level Submission) The T-accounts below summarize the ledger of Zimmer Landscaping Company at the end of the first month of operations. Cash No. 101 4/1 12,000 4/15 1,300 4/12 900 4/25 1,500 4/29 400 4/30 1,000 Accounts Receivable No. 112 4/7 3,200 4/29 400 Supplies No. 126 4/4 1,800 Accounts Payable No. 201 4/25 1,500 4/4 1,800 Unearned Service Revenue No. 209 4/30 1,000 Owner's Capital No. 301 4/1 12,000 Service Revenue No. 400 4/7 4/12 3,200 900 Salaries and Wages Expense No. 726 4/15 1,300 Don't show me this message again for the assignment (a) Prepare the complete general journal from which the postings to Cash were made. (Record entries in the order presented in the T-Accounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit

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