Question
Instruction You are doing the accounting for a nautical business, specialize in boat rental 1.Journalize each transaction 2.Post to the ledger accounts 3.Prepare a trial
Instruction
You are doing the accounting for a nautical business, specialize in boat rental
1.Journalize each transaction
2.Post to the ledger accounts
3.Prepare a trial balance
Accounts chart
Cash1001Accounts payable2001
Accounts receivable1002TPS to pay2002
Equipment1003TVQ to pay2003
Insurance prepaid1004Revenue4001
Supply1005Reparation expense5001
TPS to receive1006
TVQ to receive1007
DATE
TRANSACTIONS
01-04-2020
Issued check 102 for 3500$ as payment on account
05-04-2020
Purchased nautical equipment for 1250$ + taxes, invoice 3365, payable in 30 days
07-04-2020
Purchased supplies for 695$ + taxes, invoice 589, paid by check 101
10-04-2020
Issued check 103 for 500$ + taxes for the reparation of a boat, invoice 4456
14-04-2020
Issued invoice 87 for a boat rental; 850$ + taxes on account
21-04-2020
Issued invoice 88 for a boat rental; 350$ + taxes, paid cash
22-04-2020
Returned supplies from invoice 589, for an amount of 95$ + taxes
23-04-2020
Issued check 104 for the payment of the invoice 3365
31-08-2020
Issued invoice 89 for a boat rental; 1200$ + taxes on account
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Fundamental Accounting Principles Volume I
Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann
16th Canadian edition
978-1260305821
