Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

(T-Accounts) Post the transactions to the T-Accounts, using transaction dates as posting references. Determine the ending balance in each account. Score: 0.37 of 1 pt

(T-Accounts) Post the transactions to the T-Accounts, using transaction dates as posting references. Determine the ending balance in each account. image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Score: 0.37 of 1 pt 8 of 9 (8 complete) P2-61A (similar to) During the first month of operations, Johnson Services, Inc, completed the following transactions: (Click the icon to view the transaction data.) Read the requirements Requirement 1. Record each transaction in the journal Key each transaction by date. Explanations are not required. (Record debits first, then credits. Exclude explanations from journal entri Dec 2: Johnson Services received $63,000 cash and issued common stock to the stockholders. Journal Entry Date Accounts Debit Credit Dec 2 Cash 63,000 Common Stock 63.000 Dec 3: Purchased supplies, $700, and equipment, $12,200, on account. (Prepare a single compound journal entry) Journal Entry Date Accounts Debit Credit Dec 3 Supplies 700 Equipment 12.200 Accounts Payable 12.000 Dec 4: Performed services for a customer and received cash, 55,600 Date Debit Credit Journal Entry Accounts Choose from any list or enter any number in the input fields and then click Check Answer 3 remaining parts Clear All Score: 0.37 of 1 pt plete) x P2-61A (similar to) During the first month of operations, Johnson Services, Inc., completed the following transactions: Click the icon to view the transaction data.) Read the requirements Cash 1,700 Requirement 2. Post the transactions to the T-accounts, ing transaction dates as posting references. Determine the ending balance in each account. Brow without Spare in previous sans Cash Common Stock Accounts Receivable Dividends Choose from any list or enter any number in the input fields and then click Check Answer. parts remaining Accounts Receivable Dividends Supplies Service Revenue Equipment Salary Expense Equipment Salary Expense Land Advertising Expense Accounts Payable Utilities Expense Choose from any list or enter any number in the input fields and then click Check Answer 3 parts remaining Clear All MacBook Air esc 30 000 000 FI F2 F3 F5 F6 7 # % A & ! 1 $ 4 2 3 5 6 7. Q W E R T Y b Cash III Dec 2 Dec 3 Dec 4 Dec 7 Dec 11 Dec 16 Dec 17 Accounts Receivable Dec 18 Dec 22 Dec 29 Dec 31(a) Dec 31(b) Dec 2 Johnson Services received $63,000 cash and issued common stock to the stockholders. 3 Purchased supplies, $700, and equipment, $12,200, on account. 4 Performed services for a customer and received cash, $5,600. 7 Paid cash to acquire land, $38,000. 11 Performed services for a customer and billed the customer, $3,000. Johnson expects to collect within one month. 16 Paid for the equipment purchased December 3 on account. 17 Paid for newspaper advertising, $620. 18 Received partial payment from customer on account, $900. 22 Received and paid the water and electricity bills, $450. 29 Received $2,400 cash for servicing the heating unit of a customer. 31 Paid employee salaries, $2,800. 31 Declared and paid dividends of $1,700 Del

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

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

Recommended Textbook for

Auditing Theory And Its Application

Authors: Hanson Arthur Warren, Arthur W. Hanson

1st Edition

1406753351, 978-1406753356

More Books

Students also viewed these Accounting questions

Question

When does a company record an asset retirement obligation?

Answered: 1 week ago

Question

What is meant by organisational theory ?

Answered: 1 week ago

Question

What is meant by decentralisation of authority ?

Answered: 1 week ago

Question

Briefly explain the qualities of an able supervisor

Answered: 1 week ago

Question

Define policy making?

Answered: 1 week ago

Question

Define co-ordination?

Answered: 1 week ago

Question

e. What do you know about your ethnic background?

Answered: 1 week ago

Question

b. Why were these values considered important?

Answered: 1 week ago