Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Share your answer in provided table format only. NO PEN & PAPER. NO SCREENSHOTS. Extend the table if neccessary. Exercise 4-4A & 4-5A Record Jan.

Share your answer in provided table format only. NO PEN & PAPER. NO SCREENSHOTS. Extend the table if neccessary.

image text in transcribed

image text in transcribed

Exercise 4-4A & 4-5A Record Jan. 1-10 of current year transactions below. For rent and bill-payment transactions, record expenses with bill payments (assume bill is received and paid in one transaction).

ASSETS

101 Cash

142 Office Supplies

181 Office Equipment

LIABILITIES

202 Accounts Payable OWNERS EQUITY

311 Diane Bernick, Capital

312 Diane Bernick, Drawing

REVENUES

401 Consulting Fees EXPENSES

511 Wages Expense

521 Rent Expense

525 Phone Expense

533 Utilities Expense

549 Miscellaneous Expense

GENERAL JOURNAL

date

description

POST. ref.

debit

credit

1

1

2

2

3

3

4

4

5

5

E4-4A General Journal Entries (L04) Diane Bernick has opened Bernick's Consulting. Journalize the following transactions that occurred during January of the current year. Use the following journal pages: January 1-10, page 1, and January 11-29, page 2. Use the following chart of accounts: Chart of Accounts Assets 101 Cash 142 Office Supplies 181 Office Equipment Liabilities 202 Accounts Payable Owner's Equity Diane Bernick, Capital 312 Diane Bernick, Drawing 311 Revenues 401 Consulting Fees Expenses 511 Wages Expense 521 Rent Expense 525 Phone Expense 533 Utilities Expense 549 Miscellaneous Expense Jan. 1 2 3 5 8 10 11 Bernick invested cash in the business, $12,000. Paid office rent, $750. Purchased office equipment on account, $1,300. Received cash for services rendered, $950. Paid phone bill, $85. Paid for a magazine subscription (miscellaneous expense), $20. Purchased office supplies on account, $250. Made a payment on account (see Jan. 3 transaction), $200. Paid part-time employee, $600. Received cash for services rendered, $800. Paid utilities bill, $105. Bernick withdrew cash for personal use, $400. Paid part-time employee, $600. 15 18 21 25 27 29

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

Recommended Textbook for

Financial Accounting in an Economic Context

Authors: Jamie Pratt

8th Edition

9781118139424, 9781118139431, 470635290, 1118139429, 1118139437, 978-0470635292

More Books

Students also viewed these Accounting questions

Question

What are the relative advantages of RFID over bar codes?

Answered: 1 week ago