Journalize the following transactions in the general journal using Form B from the graded project forms you downloaded (make as many copies as needed) Each journal entry's debits should equal its credits This is a fundamental GAAP that can't be violated (A journal entry error, such as posting $1,010 instead of $1,100, can be corrected at the adjusting correcting journal entries step ) On January 1, 2018, a payment in cash for $12,000 is made for prepaying rent for the entire year 2018 On January 4, 2018, accounting services are performed and payment is received in cash for the amount of $1,900 On January 9, 2018, a payment in cash for advertising is made in the amount of $850 On January 10, 2018, office supplies are purchased in the amount of $75 with cash On January 14, 2018, accounting services are performed and payment is received in cash for the amount of $2,725 On January 20, 2018, the telephone bill for the amount of $660 is received and paid with cash 3 Post the general journal entries from the journal to the corresponding general ledger accounts, paying particular attention to whether they're debits or credits Use the Post Ref column to ensure that each line item of the journal entries is posted correctly to each general ledger account Posting from the journal to the general ledger is simply rearranging the information If the debits equal the credits for a particular journal entry and the information is posted correctly, the total of the debits should equal the total of the credits in the general ledger 4 Calculate the balances in the general ledger accounts, running the numbers several times for accuracy Often, debits won't equal credits on the trial balance because a hand held calculator is used and the math is done only once Using a hand held calculator can introduce errors This is why an Excel spreadsheet is recommended However, if a handheld calculator is all that's available to you, be sure to do the math enough times that you know the calculations are accurate To calculate the balances in the ledger accounts, do the following Add the debits Add the credits Subtract the larger amount from the other, or, alternatively, keep the running balance of the amount in the account and whether it's a debit or credit on the ledger

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Journalize the following transactions in the general journal using Form B from the graded project forms you downloaded (make as many copies as needed). Each

Journalize the following transactions in the general journal using Form B from the graded project forms you downloaded (make as many copies as needed). Each journal entry's debits should equal its credits. This is a fundamental GAAP that can't be violated. (A journal entry error, such as posting $1,010 instead of $1,100, can be corrected at the adjusting/correcting journal entries step.)

On January 1, 2018, a payment in cash for $12,000 is made for prepaying rent for the entire year 2018.
On January 4, 2018, accounting services are performed and payment is received in cash for the amount of $1,900.
On January 9, 2018, a payment in cash for advertising is made in the amount of $850
On January 10, 2018, office supplies are purchased in the amount of $75 with cash.
On January 14, 2018, accounting services are performed and payment is received in cash for the amount of $2,725.
On January 20, 2018, the telephone bill for the amount of $660 is received and paid with cash. 3. Post the general journal entries from the journal to the corresponding general ledger accounts, paying particular attention to whether they're debits or credits. Use the Post Ref. column to ensure that each line item of the journal entries is posted correctly to each general ledger account. Posting from the journal to the general ledger is simply rearranging the information. If the debits equal the credits for a particular journal entry and the information is posted correctly, the total of the debits should equal the total of the credits in the general ledger. 4. Calculate the balances in the general ledger accounts, running the numbers several times for accuracy. Often, debits won't equal credits on the trial balance because a hand-held calculator is used and the math is done only once. Using a hand-held calculator can introduce errors. This is why an Excel spreadsheet is recommended. However, if a handheld calculator is all that's available to you, be sure to do the math enough times that you know the calculations are accurate. To calculate the balances in the ledger accounts, do the following:

Add the debits. Add the credits.
Subtract the larger amount from the other, or, alternatively, keep the running balance of the amount in the account and whether it's a debit or credit on the ledger.