Question
Journal the following transactions related to the service business Toms Tailor Shop, owned by Tom Turnbull. Start Microsoft Excel, and open the BUS113_04_06.xlsx file from
Journal the following transactions related to the service business Toms Tailor Shop, owned by Tom Turnbull.
Start Microsoft Excel, and open the BUS113_04_06.xlsx file from C:\ACTT1\Data\Unit_4.
Click the File tab, and then click Save As. Save the file to C:\ACTT1\Student\Unit_4.
October 1. Received cash from owner, Tom Turnbull, as an investment, $5,000.00. Receipt No. 1.
October 9. Paid cash for insurance, $1,200.00. Check No. 1.
October 13. Bought supplies on account from Sewing Essentials, $150.00. Memorandum No. 1.
October 21. Sold services on account to Main Street Theater, $600.00. Sales Invoice No. 1.
October 24. Paid cash for electric bill, $300.00. Check No. 2.
October 31. Paid cash to owner, Tom Turnbull, for personal use, $3,000.00. Check No. 3.
October 31. Received cash from sales, $2,352.00. Register Tape No. 1.
Total the columns and prove and rule page 1 of the journal.
Prove cash. The beginning cash balance on October 1 is zero. The balance on the next unused check stub is $2,852.00.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
To journalize these transactions for Toms Tailor Shop well create journal entries following the date sequence and using the doubleentry bookkeeping sy...Get Instant Access to Expert-Tailored Solutions
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Step: 2
Step: 3
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