Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Points 50 2. Journal Entries Janold Printing Company completed these transactions during the month of August of the current year; Janold Printing Inc. began a

image text in transcribedimage text in transcribed

Points 50 2. Journal Entries Janold Printing Company completed these transactions during the month of August of the current year; Janold Printing Inc. began a printing services and the Owner Janold B invested $200,000.00 cash and an Aug. 11 industrial printing machine valued at $250,000.00 3 Purchased a Copier on credit by promised to pay sometime in the future for $10,500.00 on credit. Purchased printing supplies for $15,000; paid 10,000.00 in cash and the remaining $5,000.00 will be paid 5 at a later date. 6 Purchased inks totaling $3,500.00 with cash 7 Paid $18,000 for a six months insurance policy to be used monthly. 10 Completed work for Mrs. Manlaugh Always Inc. and immediately received a payment of $20,000 cash. 5 Purchased Materials totaling $5,000.00; paid $3,000.00 and the remaining amount of $2,000.00 will be paid later. 12 15 17 Completed work for Mr. Happy Cole Inc. on credit for $15,000.00 Paid the remaining amount for the supplies purchased on November 5 Received $10,000 as part payment from Mr. Happy Cole Inc. for the service performed om November 15. 19 25 Received $100,000 from a client for Printing services to be rendered in September. Paid $2,380 cash for the August utility bills. Paid the owner Janold $20,000 cash as dividend. 28 30 Requirements: A. Prepare the general journal entries to record these transactions, B. Post to the ledger and C. Prepare the Unadjusted Trail Balance

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

Survey Of Accounting

Authors: Carl S. Warren

1st Edition

0538870850, 9780538870856

More Books

Students also viewed these Accounting questions

Question

What is your view of spirituality in the workplace?

Answered: 1 week ago