Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Instructions Chart of Accounts Journal Instructions Innovative Consulting Co. has the following accounts in its ledger: Cash; Accounts Receivable, Supplies; Office Equipment; Accounts Payable; Common
Instructions Chart of Accounts Journal Instructions 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. Paid rent for the month, $2,800. 4 Paid advertising expense, $500. 5 Paid cash for supplies, $1,300. 6 Purchased office equipment on account, $9,500. 12 Received cash from customers on account, $15,500. 20 Paid creditor on account, $3,040. 27 Paid cash for miscellaneous expenses, $570. 30 Paid telephone bill for the month, $375 31 Fees eamed and billed to customers for the month, $50,540. 31 Paid electricity bill for the month, $840. 31 Paid dividends, $1,900. Joumalize the preceding selected transactions for October 2012 in a two-column joumal. Refer to the Chart of Accounts for exact wording of account bities
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started