Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

PR3 2-6A On September 1, 2015, Colton Davies established an organizing business, Get Rid of It. Journalizing and During the month, Colton completed the following

image text in transcribed

PR3 2-6A On September 1, 2015, Colton Davies established an organizing business, Get Rid of It. Journalizing and During the month, Colton completed the following transactions: posting Unadjusted trial Sep. 1. Colton deposited money into the business bank account, from his pocket, balance $300. 3. Colton borrowed $15,000 from his mother. She said that the company can owe her for the whole amount. 6. Colton purchased a one-year insurance policy, $1,200. 10. Recorded jobs completed but not yet paid and sent invoices to customers, $8,600. 12. Purchased a digital pocket camera on his own credit card as a gift for a relative in China, $750. 12. Received cash for a job to be started next month, $1,000. 20. Paid miscellaneous expenses, $315. 24. Received cash from customers on account, $3,600. 30. Paid wages of employees, $2,400. Viction 1. Journalize each transaction in a two-column journal, referring to the following chart of accounts in selecting the accounts to be debited and credited. (Do not insert the account numbers in the journal at this time.) Explanations may be omitted. 2. Post the journal to a ledger of three-column accounts, inserting appropriate posting references as each item is posted. Extend the balances after each transaction is posted, and note whether the balance is a debit or credit. 3. Prepare an unadjusted trial balance as at September 30,2015

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_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions