Question
The following transactions occurred for Laughton Engineering (Click the icon to view the transactions.) Read the requirements. (Click the icon to view the journal
The following transactions occurred for Laughton Engineering (Click the icon to view the transactions.) Read the requirements. (Click the icon to view the journal entries.) Requirement 1. Post the transactions to the T-accounts. Use the dates as posting references in the T-accounts. We will post to the accounts one transaction at a time. Begin by posting the event from the 2nd. Received $9,000 contribution from Brett Laughton in exchange for common stock. (We will post to the accounts one transaction at a time. Post only the transaction from July 2 in this step) Cash Accounts Payable Service Revenue Reference Date Accounts Receivable! Notes Payable Utilities Expense Jul 2 Cash Common Stock Accounts and Explanation Debit Credit 9,000 9.000 Issued common stock for cash. Office Supplies Common Stock Jul 2 Jul 4 Utilities Expense Cash 460 460 Paid cash expenses Equipment Dividends Jul 5 Equipment Accounts Payable 2,500 2,500 Purchase of equipment on account Jul 10 Accounts Receivable 2,800 More info Service Revenue 2,800 Performed services on account Jul. 2 Received $9,000 contribution from Brett Laughton in exchange for common stock. Jul. 12 Cash 6,500 Jul. 4 Paid utilities expense of $460. Notes Payable 6,500 Jul. 5 Purchased equipment on account, $2,500. Borrowed cash by signing note Jul. 12 Jul. 19 Jul. 21 Jul. 10 Performed services for a client on account, $2,800. Borrowed $6,500 cash, signing a notes payable. Cash dividends of $750 were paid to stockholders. Purchased office supplies for $750 and paid cash. Jul. 27 Paid the liability from July 5. Jul. 19 Dividends 750 Cash 750 Paid cash dividends. Jul. 21 Office Supplies Cash Purchase of office supplies with cash 750 750 answer Jul 27 Accounts Payable 2.500 Cash 2,500 Print Done Paid cash on account 1137 DLF
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