Please Read Each Transaction and Record In the General Journal to the Left. Then Post ONLY the first 4 Transactions to the General Ledger
AD AE AF AG AH 2 Date Accounts and Description: Ref Debit Credit Jousral Enti Posting Reference Please read each transacion and record in the General Journal GENERAL LEDGER 20Xe Prepaid Insurance 1 24,000 Try Again -to the left. Then post ONLY the first 4 transactions to the CHART OF ACCOUNTS DEFINITION ACCT. NO. 100 Cash Cash 24,000 Correct Try Again general ledger. Use the drop down menu to complete, it will let 100 Cash Company cash DATE DESCRIPTION REF. DEBIT CREDIT BALANCE Purchased A One-Year Insurance Policy 110 Accounts Receivable Money owed to the company 12/1/20X8 OPENING BALANCE 32,500 Don't forget to include your explanations and the date! 120 Prepaid Insurance Insurance that was paid for in advance 12/1/20X8 Purchased 1- year Insurance 12/2/20X Equipment--Kit 2 125.000 Try Again 130 Inventory--Food Food purchased but not yet cold (includes sodas and other non-alcoholic beverages] Accounts Payable #### Correct Tre Again 135 Inventory--Beverage Beverage ( only alcohol] purchased but not yet sold Purchased of new kitchen equipment on account Dec 1 The controller licy on Dec 1, 20x8. The cost was 140 Equipment--Kitchen ong term assets purchased for the kitchen $24,000. 145 Accumulated Depreciation--Kitchen The amount of the long term asset that has been consumed, based on an estimated life 1 12/5/20X Guest Supplies Expense 2.510 Try Again 200 Accounts Payable Money the company owes its vendors Accounts Payable 2,510 Correct Try Again Dec 2 The hotels bought some new kitchen equipment to replace some old equipment. The 205 Utilities Payable Utilities that have been used but no get paid ACCT. NO. 110 Accounts Receivable Purchased of quest supplies due on January total cost was $125,000 and they are supposed to have a useful life of 10 years. The 208 Payroll Payable Payroll that is owed to employees not yet paid DATE DESCRIPTION REF. DEBIT CREDIT BALANCE purchase was made on account with Houston Restaurant Supply. 210 Advanced Deposits Funds received by customers for a future service, the service has not yet been provided by the company 12/1/20X8 OPENING BALANCE 12,800 12/8/20X Inventory-Food 4 17.500 Try Again 220 Gift Certificates Funds received by customers for a future service, the service has not yet been provided by the company Accounts Payable 17,500 Correct Try Again Dec 5 The rooms Manager bought some guest supplies worth $2,510 from Houston Hotel Supply. She picked up the supplies on her way into work and gave the controller the 00 Common Stock Ownership in who have invested in the company To Record purchase of inventory on account invoice. The invoice is not due until January. These are going to be used right away, as 310 Dividend: Profits that have been shared with the owners of the company or shareholders they are expecting 390 Retained Earnings The earnings the company has kept; Net Income - Dividends or just Net Losses 12/20/20> Accounts Payable 40,000 10.000 Dec 8 Cougar Hotel bought food inventory of $17,500 on a charge account with Ben E. Keith. 391 Income Summary Only used at the end of the year to close the books 400 Room Revenue Revenue from room sales in s hotel Food Revenue 38,000 Dec 20 The Houston Law Association held its Christmas party at Cougar Hotel. The food revenue 10 Food Revenue Revenue from food sold ACCT. NO. 120 Prepaid Insurance Beverage Revenue 12,000 Try Again was 538,000 and beverage revenue was $12,000. The association had made a deposit on DATE REF. DEBIT May 20X8 of $10,000 so the controller billed the association for the remaining balance 415 Beverage Revenue Revenue from Beverage sold DESCRIPTION CREDIT BALANCE To record revenue held at Cougar Hotel. due. 500 Cost of Sales Food Cost of the food that has been cold 12/1/20X8 OPENING BALANCE 510 Cost of Sales Beverage Cost of the beverage that has been cold 12/21/20X Cach 6 10,000 Dec 21 The Houston Law Association was very pleased with the event yesterday and purchased 500 Payroll Expense The cost of payroll that has been incurred Gift Certificates 10 000 Correct $10,000 worth of gift cards to give away as gifts, they paid in cash. 700 Guest Supplies Expense Supplies for the quest ( soap, tissue , etc. ) ted from Houston Low Association for purchase Dec 21 ADR Corp. held its annual meeting and retreat at the Cougar Hotel and the group 710 Insurance Expense Cost of insurance that has been used checked out this morning. The total rooms revenue was $75,000, food revenue was 720 Utilities Expense Cost of utilities that have been used 29 12/21/20X Cash 15.000 $32,000 and beverage revenue $8,0 125 Depreciation Expense The amount of a long term azzet that has been used (offeet is accumulated depreciation] Room Revenue 75,000 Food Revenue 32,000 Dec 27 Paid payroll of $42,570 to employees. ACCT. NO. 130 Inventory Food Beverage Revenue 8,000 Correct Dec 28 Paid 25% of what is owed to Houston Restaurant Supply, and 75% owed to Ben E. Keith DATE DESCRIPTION REF DEBIT CREDIT BALANCE and Houston Hotel Supply. 12/1/20X8 OPENING BALANCE 21,000 To record cash collected from ADR Corp. 12/6/20X8 To record purchase of invents 17 500 38 500 T 35 12/27/20 Payroll Expense 8 42,570 Cash 42,570 Correct To record payment of payroll to employees 12/28/20> Accounts Payable 9,375 Accounts Payable 13 125 Try Again ACCT. NO. 135 Accounts Payable 1,883 DATE DESCRIPTION T CREDIT BALANCE Cash 46,258 REP. 12/1/20X8 OPENING BALANCE 12 500 ACCT NO. 140 REP BALANCE 12/1/20X8 OPENING BALANCE 42,000 1212/20X8 Purchased A new kitchen equipme GENERAL JOURNAL Page 1 + E + 40% Ready Accessibility: Investigate
