Question
Need help creating a General Journal and a ledger Question: 1 of 2 Mini Practice Set Rich's Accounting Service Rich's Accounting ServiceChart of Accounts ASSETSOWNER'S
Need help creating a General Journal and a ledger
Question:1 of 2
Mini Practice Set
Rich's Accounting Service
Rich's Accounting ServiceChart of Accounts
ASSETSOWNER'S EQUITY
EXPENSES - Continued
111Cash
311 Rich, Capital
513 Gasoline Expense
112 Accounts Receivable
312 Rich, Drawing
514 Repairs Expense
114 Prepaid Rent
313 Income Summary
515 Telephone Expense
115 Office Supplies
516 Advertising Expense
121 Office Equipment
517 Office Supplies Expense
122Accumulated Depreciation -Office Equipment
REVENUE
518Depreciation Expense -Office Equipment
123 Automobile
519 Depreciation Expense -Automobile
124 Accumulated Depreciation -Automobile
411 Accounting Service Fees
524 Miscellaneous Expense
LIABILITIES
EXPENSES
211 Accounts Payable
511 Rent Expense
212 Salaries Payable512 Salaries Expense
On June 1, 201X,Rich opened an accountingservices office calledRich's Accounting Service. The following transactions were completed for the month of June.
June 1
Richinvested $19,000 cash in the business along with $6,000 of office equipment.
June 1
Rented an office and paid three months rent in advance to Fredericks Property Management. Check #0001 - $4,500.
June 1
Bought an automobile on account from Norm's Automotive, $27,000.
June 4
Purchased office supplies from Office Depot on account,$400.
June 5
Purchased additional office supplies from Office Depot. Paid cash, Check # 0002 - $75.
June 6
Performed accounting services for Jilian Kirby. Collected $3,500 cash.
June 8
Paid a gasoline bill to Arco. Check #0003 - $97.
June 12
Paid Janice, office secretary, two weeks salary.Check #0004 - $2,000.
June 18
Provided accounting services to Mindy's Dress Shop, $8,500. Payment to be received on July 9th.
June20
Rich withdrew $2,500 from the business to pay personal expenses. Check #0005 - $2,500.
June 21
Performed accounting services for Caden, Inc.. Collected $2,500 cash.
June 22
Paid a gasoline bill to Arco. Check #0006 - $96.
June 25
Paid Norm's Automotive for automobile repairs. Check #0007 - $625
June 26
Paid Janice, office secretary, two weeks salary.Check #0008 - $2,000.
June 27
Provided accounting services to Sarah Company $7,500. Payment to be received on July 19th.
June 29
Paid June telephone bill to Verizon. Check #0009 - $525.
June 29
Received bill from The Daily Courier for June advertising. Bill is in the amount of $1,300 and is due July 3rd.
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