Question
Innovative Consulting Co. has the following accounts in its ledger: Cash; Accounts Receivable; Supplies; Office Equipment; Accounts Payable; Common Stock; Retained Earnings; Dividends; Fees Earned;
Innovative Consulting Co. has the following accounts in its ledger: Cash; Accounts Receivable; Supplies; Office Equipment; Accounts Payable; Common Stock; Retained Earnings; Dividends; Fees Earned; Rent Expense; Advertising Expense; Utilities Expense; Miscellaneous Expense.
Transactions | ||
Oct. | 1 | Paid rent for the month, $2,800. |
4 | Paid advertising expense, $525. | |
5 | Paid cash for supplies, $1,250. | |
6 | Purchased office equipment on account, $9,300. | |
12 | Received cash from customers on account, $16,600. | |
20 | Paid creditor on account, $3,160. | |
27 | Paid cash for miscellaneous expenses, $590. | |
30 | Paid telephone bill for the month, $275. | |
31 | Fees earned and billed to customers for the month, $50,160. | |
31 | Paid electricity bill for the month, $830. | |
31 | Paid dividends, $1,700. |
CHART OF ACCOUNTS | ||||||||||||||||||||||||||||||||||||||
Innovative Consulting Co. | ||||||||||||||||||||||||||||||||||||||
General Ledger | ||||||||||||||||||||||||||||||||||||||
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Journalize the transactions for October 20Y2 in a two-column journal. Refer to the Chart of Accounts for exact wording of account titles.
PAGE 1
JOURNAL
ACCOUNTING EQUATION
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