Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

must use headings from this list. please answer within the hour thanks! Below are individual unrelated transactions from ABC Inc. Record each transaction in the

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed must use headings from this list. please answer within the hour thanks!
Below are individual unrelated transactions from ABC Inc. Record each transaction in the General Journal directly below it. Assume the company is using a perpetual inventory system Enter an appropriate description when entering the transactions in the journal. Dates must be entered in the format dd/mmm (ie, January 15 would be 15/Jan) a) ABC Inc. established a petty cash fund on October 1, 2014 in the amount of $120. The cheque was drawn, cashed, and its proceeds turned over to an office employee, who was designated as the petty cashier General Journal Page Gj1 Date Account/Explanation F Debit Credit b) On October 2, 2014, ABC Inc. purchased merchandise for $1,020 on credit with terms of 2/10, 1/30, and recorded this purchase. General Journal Page GJI Account/Explanation F Debit Credit Date + c) On October 4, 2014, ABC Inc. purchased supplies by paying $2,070 cash. General Journal Page 1 Date Account/Explanation F Debit Credit 1 Choose an Account or Heading gories: Accounts and Headings: Accounts Payable ts Accounts Receivable lities Accumulated Depreciation, Automobiles Accumulated Depreciation, Boats lity Accumulated Depreciation, Building wenues Accumulated Depreciation, Equipment enses Accumulated Depreciation, Furniture er Accumulated Depreciation, Land Improvements Accumulated Depreciation, Machinery Accumulated Depreciation, Trucks Advertising Expense Advertising Payable Allowance for Doubtful Accounts Auto Expense Automobiles Bad Debts Expense Bank Service Charge Expense Boats Search: Erase Cancel Choose an Account or Heading egories: Accounts and Headings: Boats ets Bonds Payable pilities Building nity Cash quity Cash Over and Short venues Commissions Earned penses Consulting Revenue Earned her Copyright Cost Of Goods Sold Credit Card Expense Delivery Expense Depreciation Expense, Automobiles Depreciation Expense, Boats Depreciation Expense, Building Depreciation Expense, Equipment Depreciation Expense, Furniture Depreciation Expense, Land Improvements Denreciation Expense Machinery Search: Erase Cancel Choose an Account or Heading tegories: Accounts and Headings: Depreciation Expense, Machinery sets Depreciation Expense, Trucks abilities Depreciation expense quity Dividends Equity Equipment Revenues Food and Drinks Expense Furniture expenses Other Income Summary Income Taxes Expense Income Taxes Payable Insurance Expense Interest Earned Interest Expense Interest Payable Interest Receivable Investment in Bonds Janitorial Expense Land Search: lity Choose an Account or Heading gories: Accounts and Headings: Land ts Land Improvements ities Long-Term Notes Payable y Long-term Investment in Shares Machinery enues Merchandise Inventory enses Mortgage Payable er Notes Receivable Office Salaries Expense Office Supplies Office Supplies Expense Patents Petty Cash Postage Expense Prepaid Advertising Prepaid Insurance Prepaid Interest Prepaid Rent Search: Erase Cancel Choose an Account or Heading gories: Accounts and Headings: Prepara interest S Prepaid Rent ties Property Taxes Expense Property Taxes Payable Rent Earned ty enues Rent Expense enses Rent Payable er Rent Receivable Rent expense, office space Rent expense, selling space Repair Expense Retained Earnings Salaries Expense Salaries Payable Sales Sales Discounts Sales Returns and Allowances Sales Salaries Expense Search: Erase Cancel Choose an Account or Heading egories: Accounts and Headings: Retained Earnings cets Salaries Expense pilities Salaries Payable uity Sales quity Sales Discounts evenues Sales Returns and Allowances xpenses Sales Salaries Expense ther Share Capital Short-Term Notes Payable Store Supplies Expense Supplies Supplies Expense Trademark Trucks Unearned Consulting Revenue Unearned Rent Unearned Revenue Utilities Expense Search

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Brazilian Economy Confronting Structural Challenges

Authors: Edmund Amann

1st Edition

0367245272, 9780367245276

More Books

Students also viewed these Accounting questions