1 answer

On October 1, 2019, Helen Kennedy opened an advertising agency. DATE TRANSACTIONS Oct. 1 Helen Kennedy...

Question:

On October 1, 2019, Helen Kennedy opened an advertising agency. DATE TRANSACTIONS Oct. 1 Helen Kennedy invested $61,000 cash
Required: 1. Journalize the above transactions 2. Post the above transactions to the ledger accounts Analyze: What is the bal
3 Oct 05, 2019 Office equipment Accounts payable 13.000 Oct 06.2019 Art equipment Cash Oct 07, 2019 Supplies Cash Oct 10, 201
Supplies Oct 18, 2010 Office equipment Cash points Accounts payable 10 Oct 20, 2010 Accounts payable Cash eBool 11 Oct 26, 20
Journal Accounts Post the above transactions to the ledger accounts. Account No 101 Debit Credit Balance 01.000 61.000 Accoun
Journal Accounts Post the above transactions to the ledger accounts. Account No 101 Debit Credit 01.000 Accounts Receivable D
Helen Kennedy, Capital Debit Oct 01, 2010 Date Account No. 301 Credit Balance 61,000 01.000 Helen Kennedy, Drawing Date Debit
2 Post the above transactions to the ledger accounts. Analyze: What is the balance of account 202 in the general ledger? Comp
On October 1, 2019, Helen Kennedy opened an advertising agency. DATE TRANSACTIONS Oct. 1 Helen Kennedy invested $61,000 cash in the business. 2 Paid October office rent of $3,ese; issued Check 1001. 5 Purchased desks and other office furniture for $13,900 from Office Furniture Mart, Inc.; received Invoice 6704 payable in 60 days. 6 Issued Check 1ee2 for $3,25e to purchase art equipment. 7 Purchased supplies for $1,600; paid with Check 103. 10 Issued Check 1984 for $490 for office cleaning service. Performed services for $4,158 in cash and $1,958 on credit. (Use a compound entry.) 15 Returned damaged supplies for a cash refund of $299. 18 Purchased a computer for $3,250 from Office Furniture Mart, Inc., Invoice 7108 issued Check 1005 for a $1,775 down payment, with the balance payable in 30 days. (Use one compound entry.) payment on 2e Issued Check 1006 for $6,950 to Office Furniture Mart, Inc., a account for Invoice 6704. 26 Perforced services for $4,450 on credit. 2) Paid $270 for monthly telephone bill; issued Check 1007 30 Received $3,750 in cash from credit customers 30 Mailed Check 100% to pay the monthly utility bill of $345. 30 Issued Checks 100-1011 for 58,ese for salaries Required: 1. Journalize the above transactions 2. Post the above transactions to the ledger accounts Analyze: What is the balance of account 202 in the general ledger? Complete this question by entering your answers in the tabs below. New < Prey 2016
Required: 1. Journalize the above transactions 2. Post the above transactions to the ledger accounts Analyze: What is the balance of account 202 in the general ledger? Complete this question by entering your answers in the tabs below. General Journal Ledger Accounts Analyze Journalize the above transactions. View transaction list View journal entry worksheet General Journal Debit Credit Date Oct 01, 2010 Cash Helen Kennedy. Capta Oct 02. 2010 Rent expense Can Oct 05. 2010 Oice equipment OOO eu. Oct 06. 2010 2016 ! < Prev Next >
3 Oct 05, 2019 Office equipment Accounts payable 13.000 Oct 06.2019 Art equipment Cash Oct 07, 2019 Supplies Cash Oct 10, 2010 Office cleaning expense Cash Oct 12. 2019 NA Cash Accounts receivable Fees income Oct 18 2019 Cash Supplies Oct 18, 2010 Once equipment A counts paya < Prev 246 Next
Supplies Oct 18, 2010 Office equipment Cash points Accounts payable 10 Oct 20, 2010 Accounts payable Cash eBool 11 Oct 26, 2010 Accounts receivable Fees income 12 Oct 27, 2019 Telephone expense Cash References 13 Oct 30. 2010 Cash Accounts receivace Oet 30. 2010 Utes expense Oct 30.2010 Ledger Accounts >
Journal Accounts Post the above transactions to the ledger accounts. Account No 101 Debit Credit Balance 01.000 61.000 Accounts Receivable Date Debit Oct 12.2010 1950 Oct 20, 2019s 4.450 Oct 30, 2010 Account No 111 Credit Balance 1.950 .400 3.750 2.650 3.050 3.250 1.000 Cash Dale Oct 01. 2019 Oct 02.2010 Oct 08, 2010 Oct 07, 2019 Oct 10.2010 Oct 12, 2010 Oct 15, 2010 Oct 18, 2010 Oct 20, 2010 Oct 27. 2010 Oct 30, 2010 Oct 30. 2010 Oct 30, 2019 57.950 54,700 53.100 52.010 58.780 57,050 400 150 1.175 56.875 48.925 0.950 270 52.405 52.080 14.010 8.050 Account No. 121 Credit Balance 1.000 Supplies Date Debit 107. 2010 1.600 Office Equipment Date Debit Det 05. 2010 12.000 Oct 18, 2010 3.000 Account No. 141 Credit Balance 13.000 13. 2010 Account No. 202 Credit Account No. 161 Credit Accounts Payable Date Debit Oct 05.2010 2 of 6 !! < Prev Next >
Journal Accounts Post the above transactions to the ledger accounts. Account No 101 Debit Credit 01.000 Accounts Receivable Date Debit Oct 12, 2010 3 1,950 Oct 20, 2019s 4.450 Oct 30, 2010 Account No 111 Credit Balance 1.950 .400 3.750 2.650 3.050 3.250 1.800 400 6,150 Dale Oct 01. 2019 Oct 02. 2019 Oct 06, 2010 Oct 07, 2010 Oct 10. 2019 Oct 12, 2010 Oct 15, 2010 Oct 18, 2010 Oct 20, 2010 Oct 27. 2010 Oct 30. 2010 Oct 30, 2010 Oct 30. 2010 Balance 61.000 57.950 54,700 53,100 52.010 58.780 57,050 56.875 48.625 48.655 52.405 52.080 44,010 1.175 0.950 270 3.750 345 8.050 Account No. 141 Credit Balance 13.000 Supplies Date 07. 2010 Debit 1.000 Office Equipment Date Debit Det 05. 2010 12.000 Oct 16, 2010 3.000 Account No. 121 Credit Balance 1.000 1.310 13. 2010 Account No. 202 Credit Balance Account No 161 Accounts Payable Date Debit foot 05.2010 2 of 6 !! < Prev Next > © e E
Helen Kennedy, Capital Debit Oct 01, 2010 Date Account No. 301 Credit Balance 61,000 01.000 Helen Kennedy, Drawing Date Debit et 30. 2010 Account No.102 Credit Balance 16.000 16.900 eBook Fees Income Date Debit Account No. 401 Credit Balance 4.450 4.450 Office Cleaning Expense Date Debit et 10. 2010 490 Account Credit / Oct 20, 2010 Bane 4 00 Rent Expense Date Debit Oct 02, 2010 2.050 Account No. 514 Credit Balance Salaries Expense Date Debit Dot 30 201 8 .050 Account No. 617 Credit Balance Telephone Expense Account No. 620 Balance Utilities Expense Debit Account No.023 Credit Balance Date Debit Analyze> < General 2016 Nest > Baterie
2 Post the above transactions to the ledger accounts. Analyze: What is the balance of account 202 in the general ledger? Complete this question by entering your answers in the tabs below. General Journal Ledger Accounts Analyze What is the balance of account 202 in the general ledger? Balance of account 202 $ 8.825 < Ledger Accounts < Prer 2 of 6 Next 9 e

Answers

Hi,

It would have been proper if you can specify your question. I assume that you want us to verify the solution which you have calculated.

Following are my observations :

a. You have used Cash account every where even though there is transaction through cheque. So you may replace the bank account GL where transaction is through cheque

b. There is clerical error in inputting the amount for the transaction carried out on 18th Oct.

The cheque payment is 1775 however you have entered this as 1175. As a result of this the accounts payable value have also inflated by Rs.600 (The value captured in answer is 1875 instead of 1275)

c. In view of comments provided in "b" the accounts payable balance will be 8225 (In your answer it is coming to 8825 due to error commented in point "b"

Hope this is helpful and await your positive response on this.

.

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