The T accounts on the next page summarize the ledger of McGregor Gardening Company, Inc. at the
Question:
The T accounts on the next page summarize the ledger of McGregor Gardening Company, Inc. at the end of the first month of operations.
Instructions(a) Prepare in the order they occurred the journal entries (including explanations) that resulted in the amounts posted to the accounts.(b) Prepare a trial balance at April 30, 2012.
Cash Unearned Service Revenue 15,000 | Аpг. 15 700 Apr. 12 800 Apr. 30 900 25 3,500 29 800 30 900 Accounts Receivable Common Stock 3,400 | Аpг. 29 Apг. 800 Apr. 15,000 Service Revenue Supplies 5,200 Apг. 4 Apr. 12 3,400 700 Accounts Payable 3,500 | Apr. 4 Salaries and Wages Expense 800 | 5,200 Apr. 15 Apr. 25
Step by Step Answer:
a General Journal Date Account Titles and Explanation Debit Credit Apr 1 Cash Common Stock Issued st...View the full answer
Financial Accounting Tools for business decision making
ISBN: 978-0470534779
6th Edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
Related Video
A journal entry is an act of keeping or making records of any transactions either economic or non-economic. Transactions are listed in an accounting journal that shows a company\'s debit and credit balances. The journal entry can consist of several recordings, each of which is either a debit or a credit
Students also viewed these Accounting questions
-
The T accounts on page 143 summarize the ledger of Sutton's Gardening Company, Inc. at the end of the first month of operations. Instructions (a) Prepare in the order they occurred the journal...
-
At the end of the first month of operations for SloMo Delivery Service, the business had the following accounts: Accounts Receivable, $11,350; Prepaid Insurance, $400; Equipment, $26,200 And Cash,...
-
Prepare journal entries using general ledger control accounts only Anticipated expenditures and encumbrances are 112 million Anticipated revenues are 87 million Anticipated transfers to other funds...
-
How is the standard form of a circles equation obtained from its general form?
-
A 10-lb block B rests as shown on a 20-lb bracket A. The coefficients of friction are (s 0.30 s and 0.25 (k = 0.25 between block B and bracket A, and there is no friction in the pulley or between the...
-
Traditionally, the Harrison Resort Hotel sponsors an annual festival, making a significant investment in marketing to attract tourists to its hotel. Julie, the manager to nearby Lakeshore Flowers,...
-
What is the normal balance for each of the following accounts? (a) Accounts Receivable, (b) Cash, (c) Dividends, (d) Accounts Payable, (e) Service Revenue, (f) Salaries Expense, (g) Common Stock.
-
You are requested by a client on September 28 to prepare an insurance claim for a theft loss which occurred on that day. You immediately take an inventory and obtain the following data: Inventory,...
-
Let f (x) = x sin - +3 if x#0 1 if x=0 Determine if this function is continuous at X = 0 Let f (x) = ex + 1 if x
-
Jessica is a U.S. Army Reservist and in 2022 traveled 130 miles each way to serve duty at a local military installation. She was required to report four times in 2022, two times before June 30 and...
-
Selected transactions for Charlotte Corporation during its first month in business are presented below. Sept. 1 Issued common stock in exchange for $20,000 cash received from investors. 5 Purchased...
-
Selected transactions from the journal of Galaxy Inc. during its first month of operations are presented here. Instructions(a) Post the transactions to T accounts.(b) Prepare a trial balance at...
-
Here are comparative balance sheets for Taguchi Company. Additional information:1. Net income for 2010 was $103,000.2. Cash dividends of $45,000 were declared and paid.3. Bonds payable amounting to...
-
Given the following information on a bond, if the interest rate decrease by 1% (that is from 4% to 3%), what is the change in the price of the bond based on duration? Current Market Price = $950...
-
A. Using the PDM shown above: Design a Star Schema for the following business objectives with the following grain: 1- "The overall monthly sales revenue achieved at each city by each selling channel'...
-
What role do collateralized mortgage obligations (CMOs) play in structuring mortgage-backed securities to meet the diverse risk and return preferences of investors, and how do tranche prioritization...
-
Let's face it frontline jobs in retail do not have the greatest reputation. For employees, these positions often combine low pay with high stress, leading to rapid burnout and frequent turnover. From...
-
You are a manager at Northern Fibre, which is considering expanding its operations in synthetic fibre manufacturing. Your boss comes into your office, drops a consultant's report on your desk, and...
-
Playing devils advocate and inviting outside experts to give feedback on group processes and proposed solutions are two ways to guard against __________. a. group collectivism b. group conflict c....
-
Consider the advantages and disadvantages of extending property rights so that everyone would have the right to prevent people imposing any costs on them whatsoever (or charging them to do so).
-
Predict the formula of the compound that forms between silicon (Si) and bromine (Br).
-
Powderhorn Corporation reported sales of $257,000, net income of $45,300, cash of $9,300, and net cash provided by operating activities of $21,200. Accounts receivable have increased at three times...
-
This information relates to Emley Co. 1. On April 5 purchased merchandise from Hatcher Company for $25,000, terms 2/10, net/30. 2. On April 6 paid freight costs of $900 on merchandise purchased from...
-
Stein Hardware Store completed the following merchandising transactions in the month of May. At the beginning of May, Steins ledger showed Cash of $8,000 and Common Stock of $8,000. May 1 Purchased...
-
On January 1 , Year 1 , Prairie Enterprises purchased a parcel of land for $ 1 3 , 2 0 0 cash. At the time of purchase, the company planned to use the land for a warehouse site. In Year 3 , Prairie...
-
Item 1 1 0 0 points Time Remaining 2 hours 5 minutes 0 2 : 0 5 : 0 0 eBookPrintReferencesCheck my workCheck My Work button is now enabled 3 Item 1 Time Remaining 2 hours 5 minutes 0 2 : 0 5 : 0 0...
-
The Adidas Corporation produces athletic apparel. Last month, it produced 6,000 units at a total cost of $45,000. When production increased to 8,000 units, the total cost rose to $56,000. i)...
Study smarter with the SolutionInn App