Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please I want to solve the question in the same way (which is called the ledger) Another example Please I want a focused solution sactions.

image text in transcribed
Please I want to solve the question in the same way (which is called the ledger)
image text in transcribed
Another example
image text in transcribed
Please I want a focused solution
sactions. (Omit explanations.) c. On April 1, Adventures Travel Agency began operations. The following transactions were completed during the month. 1. Owner invested $24,000 in the business. 2. Obtained a bank loan for $7,000 by issuing a note payable. 3. Paid $11,000 cash to buy equipment. 4. Paid $1,200 cash for April office rent. 5. Paid $1,450 for supplies. 6. Purchased $600 of advertising in the Daily Herald, on account. 7. Performed services for $18,000: cash of $2,000 was received from customers, and the balance of $16,000 was billed to customers on account. 8. Cash withdrawal of $400 by owner for personal use. 9. Paid the utility bill for the month, $2,000. 10.Paid Daily Herald the amount due in transaction (6). 11. Paid $40 of interest on the bank loan obtained in transaction (2). 12.Paid employees' salaries and wages, $6,400. 13. Received $12,000 cash from customers billed in transaction (7). Instructions General Ledger Description Cash in Bank Balances Debit Credit loct. 1 Debit Credit 25,00 125,000 yooo 350 oc 19 Oct 14 29 21650 900 121,850 1,200 Date Assets. withdrawals. Oct. 4 Expenses + Dr -Cr Oct. 15 loct 16 Liabilities loct 28 Capital loct 29 Revenues + Cr Oct31 - Dr 123,050 700 122,350 1125 22,2251 600 21,615 500 21, 125 ACCOUNT Balance Debit Credit Post. Ref. Credit Debit Date Hem 2000 C 2000 24000 310 1000 20000 1200 8800 1450 17350 19359 Hoo 18950 2000 16950 b00 7000 [8350 6400 2850 14950 8 G 16350 Jo 11 12. 13 G Gl Kood

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Accounting

Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren

23rd Edition

978-0324662962

Students also viewed these Accounting questions