Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Rough and Rugged began operations on November 1, 2011. The transactions for November have already been recorded and posted to the T-Accounts Record the transactions

Rough and Rugged began operations on November 1, 2011. The transactions for November have already been recorded and posted to the T-Accounts Record the transactions in a journal using correct journal entry format. Post the journal entries to the ledger (T-Accounts).

Nov 1- Jamie contributed capital of $16,000 to begin the company.

Nov 2- signed a leased for a building and paid $1,200 for the first month's rent.

Nov 3- purchased canoes for $4,800 on account.

Nov 4-purchased office supplies on account, 750

nov 7- earned $1,400 cash for rental of canoes.

Nov 13- paid $1,500 cash for wages.

nov 15- jamie withdrew $50 cash from the business

Nov 16-received a bill for $150 for utilities (use separate payable account).

Nov 20-received a bill for $175 for cell phone expenses. (use separate payable account.)

Nov 22- rented canoes to early start daycare on account, $3,000.

Nov 26-paid $1,000 on account related to the november 3, 2018 purchase.

Nov 28- received $750 from early start daycare for canoe rental on november 22, 2018.

Nov 30- Jamie withdrew $100 cash from the business.

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

Students also viewed these Accounting questions

Question

differentiate the function ( x + 1 ) / ( x ^ 3 + x - 6 )

Answered: 1 week ago