Post the first 4 Transactions to the General Ledger Please

Page 1 hate and Descriptions Ref Debit Credit Jounral Enti Posting Reference Please read each transacion and record in the General Journal 1 24,000 Try Again CHART OF ACCOUNTS DEFINITION ACCT. NO. 100 Cash id Insurance REF. CREDIT BALANCE 24,000 Correct Try Again to the left. Then post ONLY the first 4 transactions to the general ledger. Use the drop down menu to complete, it will let 100 Cach Company cach DATE DESCRIPTION DEBIT 110 Accounts Receivable Money owed to the company 92,500 ased A One-Year Insurance Policy 12/1/20X8 OPENING BALANCE Don't forget to include your explanations and the date! 20 Prepaid Insurance Insurance that was paid for in advance 1271/20X8 Purchased 1- year Insurance 24,000 68,500 Try ipment--Kitchen 2 125,000 Try Again 130 Inventory--Food Food purchased but not yet sold (includes sodas and other non-alcoholic beverages] Accounts Payable #*## Correct Try Again 135 Inventory--Beverage Beverage fonly alcohol] purchased but not yet sold chased of new kitchen equipment on account 40 Equipment--Kitchen Long term szest purchased for the kitchen Dec 1 The controller purchas ance policy on Dec 1, 20x8. The cost was 145 Accumulated Depreciation-Kitchen The amount of the long term asset that has been consumed, based on an estimated life 2,510 Try Again $24,000. at Supplies Expense 200 Accounts Payable Money the company owes its vendors 2.510 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 yet paid ACCT. NO. 110 Accounts Receivable Accounts Payable chased 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 5 Entory--Food 4 17,500 Try Again mrs Manager bought some guest supplies wor st supplies worth $2.510 from Houston Hotel 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 ed up the supplies on her way into work and gave the controller the 300 Common Stock Ownership in the company by others who have invested in the company Record purchase of inventory on account invoice. The invoice is not due until January. These are going to be used right away, as 310 Dividends Profits that have been shared with the owners of the company or shareholders cting high volume of guests in the hotel. 390 Retained Earnings The earnings the company has kept; Net Income - Dividends or just Net Losses 19 counts Receivable 5 40,000 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 20 lanced Deposits 10,000 100 Room Revenue Revenue from room sales in a hotel 38.000 Dec 20 The Houston Law Association held its Christmas party at Cougar Hotel. The food revenue 10 Food Revenue Revenue from food cold ACCT. NO 120 Prepaid Insurance 2 Beverage Revenue 12,000 Try Again was $38,000 and bever hue was $12,000. The association had made a deposit on 415 Beverage Revenue DATE DESCRIPTION REF DEBIT CREDIT BALANCE May 20X8 of $10,000 so the contre tler billed the associ on for the remaining balance Revenue from Beverage cold 23 To record revenue held at Cougar Hotel. due. 500 Cost of Sales Food Cost of the food that has been sold 12/1/20X8 OPENING BALANCE Try Again 24 510 Cost of Sales Beverage Cost of the beverage that has been cold 25 th 6 10,000 Dec 21 The Houston Law Association was very pleased with the event yesterday and purchase 600 Payroll Expense The cost of payroll that has been incurred Gift Certificates 10,000 Correct e away as gifts, they paid in cash. $10,000 worth of gift cards to give away as gifts, 700 Guest Supplies Expense Supplies for the quest (soup, tissue, etc.) 27 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 $75,00 720 Utilities Expense Cost of utilities that have been used 29 th 7 115 000 $32,000 and beverage revenue $8,000. The group paid it in full with ponythenue was 725 Depreciation Expense The amount of a long term asset that has been used ( offact is accumulated depreciation] 0 Room Revenu 75,000 1 Food Revenue 32,000 Dec 27 Paid payroll of $42,570 to em ACCT. NO. 130 Inventory--Food 2 Beverage Revenue 8,000 Correct Dec 28 Paid 25% of what is owed to Houston Re urant Supply, and 75% owed to Ben E. Keith DATE DESCRIPTION REF DEBIT CREDIT BALANCE 33 To record cash collected from A.DR. Corp. and Houston Hotel Supply. 12/1/20X8 OPENING BALANCE 21,000 12/8/20X8 To record purchase of invente 17,500 38 500 Try Again 35 roll Expense 8 42,570 36 Cach 42,570 Correct 7 o record payment of payroll to employees Counts Payable 3 31,250 Accounts Payable 13.125 Try Again Accounts Payable ACCT. NO. 135 Inventory--Beverage 46 258 DATE DESCRIPTION REF DEBIT CREDIT BALANCE 12/1/20X8 OPENING BALANCE 12,500 ACCT. NO. 140 DATE Equipment-Kitchen 12/1/20X8 OPENING BALANCE REF DEBIT CREDIT BALANCE 42 000 Try Again > GENERAL JOURNAL Page 1 + 40%