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ShareX - Image editor - 8 8 4 8 2 8 PR 2 - 3 A Journal entries and trial balance Obj. 1 , 2
ShareXImage editor PR A Journal entries and trial balance Obj. Total of Credit column: $ column: $ SHOYT ME ROW EXEET TLMPLATE A Joumal entries and trial balance During Lexi Martin establshed an interior decorating business, Heritage Designs Nov. Lexi transferred cash from a personal bank account to an account to be used for the business in exchange for common stock $ Paid rent for period of November to end of month, $ Purchased office equipment on account, $ Purchased a truck for $ paying $ cash and giving a note payable for the remainder. Purchased supplies for cash, $ Received cash for job completed, $ Paid annual premiums on property and casualty insurance, $ Recorded jobs completed on account and sent invoices to customers, $ Received an invoice for truck experises, to be paid in November, $ Enter the following transactions on Page of the twocolumn joumal: Paid utilities expense, $ Paid miscellaneous expenses, $ Recelved cash from customers on account, $ Paid wages of employees, $ Paid creditor a portion of the amount owed for equipment purchased on November $ Paid dividends, $ Instructions Journalize each transaction in a twocolumn journal beginning on Page 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 onitted Cash Accounts Recelvable Supplies Prepaid Insurance Equipment Truck Notes Payable Accounts Payable Common Stock Dividends Fees Earned Wages Expens Rent Expense Utilities Expense Truck Expense Miscellaneous Expense Post the journal to a ledger of fourcolumn accounts, inserting appropriate posting references as each item is posted. Extend the balances to the appropriate balance columns afier each transaction is posted. Prepare an unadjusted trial balance for Heritage Designs as of November Determine the excess of revenues over expenses for November. Can you think of any reason why the amount determined in might not be the net income for November?
ShareXImage editor
PR A Journal entries and trial balance
Obj.
Total of Credit column: $ column: $
SHOYT ME ROW EXEET TLMPLATE
A Joumal entries and trial balance
During Lexi Martin establshed an interior decorating business, Heritage Designs
Nov. Lexi transferred cash from a personal bank account to an account to be used for the business in exchange for common stock $
Paid rent for period of November to end of month, $
Purchased office equipment on account, $
Purchased a truck for $ paying $ cash and giving a note payable for the remainder.
Purchased supplies for cash, $
Received cash for job completed, $
Paid annual premiums on property and casualty insurance, $
Recorded jobs completed on account and sent invoices to customers, $
Received an invoice for truck experises, to be paid in November, $
Enter the following transactions on Page of the twocolumn joumal:
Paid utilities expense, $
Paid miscellaneous expenses, $
Recelved cash from customers on account, $
Paid wages of employees, $
Paid creditor a portion of the amount owed for equipment purchased on November $
Paid dividends, $
Instructions
Journalize each transaction in a twocolumn journal beginning on Page 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 onitted
Cash
Accounts Recelvable
Supplies
Prepaid Insurance
Equipment
Truck
Notes Payable
Accounts Payable
Common Stock
Dividends
Fees Earned
Wages Expens
Rent Expense
Utilities Expense
Truck Expense
Miscellaneous Expense
Post the journal to a ledger of fourcolumn accounts, inserting appropriate posting references as each item is posted. Extend the balances to the appropriate balance columns afier each transaction is posted.
Prepare an unadjusted trial balance for Heritage Designs as of November
Determine the excess of revenues over expenses for November.
Can you think of any reason why the amount determined in might not be the net income for November?
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