Question
The following invoices are being entered into the accounting system. Using the chart of accounts in Figure 2-7, determine the changes to the balance sheet,income
The following invoices are being entered into the accounting system. Using the chart of accounts in Figure 2-7, determine the changes to the balance sheet,income statement, job cost ledger,and equipment ledger as the result of entering each of the following invoices: a. A $5,000 invoice for concrete charged to job cost code 3O2.01.O2620M. b. A $2,350 invoice from a subcontracto for plumbing chargedt o job cost code 309,02.151005s Ten percent retention is withheld from the invoice. c. A $255 phone bill charged to job cost code 3 15.01.018000. d. A $1,352 bill for office rent. e. A $112 invoice for office supplies. f. A $325 invoice for repairs to Backhoe 2. g. A $ 563 invoice for nails. The nails will be placed in inventory until they are needed on the jobs, at which time they will be billed to the jobs
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