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Instructions Chart of Accounts Journal Ledger Unadjusted Trial Balance Final Questions Instructions On June 1, 2016, Hannah Ellis established an interior decorating business, Whitworth Designs.
Instructions Chart of Accounts Journal Ledger Unadjusted Trial Balance Final Questions Instructions On June 1, 2016, Hannah Ellis established an interior decorating business, Whitworth Designs. During the month, Hannah completed the following transactions related to the business June 1 Hannah transferred cash from a personal bank account to an account to be used for the business. 1 6 8 $27,250 Paid rent for period of June 1 to end of month, $3,100. Purchased office equipment on account. $12,700 Purchased a van for $31,450 paying $6.300 cash and giving a note payable for the remainder. 10 Purchased supplies for cash, $1,060. 12 Received cash for job completed, $9,000. 15 Paid annual premiums on property and casualty insurance, $2,500. 23 Recorded jobs completed on account and sent invoices to customers, $12,440. Dad no inmunia for in a maid in lichi et 300 eBook Instructions Chart of Accounts Journal Ledger Unadjusted Trial Balance Final Questions Instructions 12 Received cash for job completed, $9,000. 15 Paid annual premiums on property and casualty insurance, $2.500. 23 Recorded jobs completed on account and sent invoices to customers, $12.440. 24 Received an invoice for van expenses, to be paid in July, $1,390 Enter the following transactions on Page 2 of the two-column journal 29 Paid utilities expense, $3,600. June 29 Paid miscellaneous expenses, $1,580. 30 Received cash from customers on account, $8,200 30 Paid wages of employees, $4,600 30 Paid creditor a portion of the amount owed for equipment purchased on June 6, $6,160. eBook Show Me How Instructions Chart of Accounts Journal Ledger Unadjusted Trial Balance Final Questions Instructions June 29 Paid utilities expense, $3.660. 29 Paid miscellaneous expenses, $1,580. 30 Received cash from customers on account, $8,200. 30 Paid wages of employees, $4,600 30 Paid creditor a portion of the amount owed for equipment purchased on June 6, $6,160. 30 Withdrew cash for personal use, $2,100. Required: 1: Journalize each transaction in a two-column journal beginning on Page 1, referring to the chart of accounts in selecting the accounts to be debited and credited. (Do not insert the post reference numbers until you have posted the entry to the general ledger in part 2.) CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered Instructions Chart of Accounts Journal Instructions Required: Ledger Unadjusted Trial Balance Final Questions 1. Joumalize each transaction in a two-column journal beginning on Page 1, referring to the chart of accounts in selecting the accounts to be debited and credited. (Do not insert the post reference numbers until you have posted the entry to the general ledger in part 2) CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered 2. Post (in chronological order) the journal to a ledger of four-column accounts, inserting appropriate posting references in both the journal and the ledger as each item is posted. Extend the balances to the appropriate balance columns after each transaction is posted. Record DATE, ITEM POST REF, a debit or credit and a debit or credit under BALANCE on every line. In CNOW, Journal pages do not begin with "J". For example journal page 10 POST. REF. is simply 10. If the ending balance is $0, at least one balance amount should be $0. 3. Prepare an unadjusted trial balance for Whitworth Designs as of June 30, 2016. 4. Determine the excess of revenues over expenses for June. 5. Can you think of any reason why the amount determined in (4) might not be the net income for June
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