Horngren's Accounting (11th Edition)
11th Edition
ISBN: 9780133856781
Author: Tracie L. Miller-Nobles, Brenda L. Mattison, Ella Mae Matsumura
Publisher: PEARSON
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Textbook Question
Chapter 2, Problem E2.24E
Journalizing transactions, posting
The following transactions occurred during the month lor Tori Peel. CPA:
Jun 1 Peel opened an accounting firm by contributing $13,500 cash and office furniture with a fair market value of $5,400 in exchange for capital,
5 Paid monthly rent of $ 1.300.
9 Purchased office supplies on account, $800.
14 Paid employee's salary, $ 1,700.
18 Received a bill for utilities to be paid next month, $250.
21 Paid $600 of the accounts payable created on June 9.
25 Performed accounting services on account, $5,900 28 Peel withdrew cash of $6,900
Requirements
- Open the following four-column accounts ofTori Peel, CPA: Cash. 110; Accounts Receivable. 120: Office Supplies, 130; Office Furniture, 140; Accounts Payable, 210; Utilities Payable, 220; Peel, Capital. 310; Peel, Withdrawals, 320; Service Revenue, 410; Salaries Expense, 510; Rent Expense, 520; Utilities Expense, 530.
- Journalize the transactions, and then post the journal entries to the four-column accounts. Explanations are not required for the journal entries. Keep a running balance in each account. Assume the journal entries are recorded on page 10 of the journal.
- Prepare the trial balance as ol June 30, 2016.
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The following transactions took place at the Cook Employment Agency during November 20X1.
DATE TRANSACTIONS
Nov. 5 Performed services for Job Search, Inc., for $31,000; received $14,500 in cash and the client promised to pay the balance
in 60 days.
18 Purchased a graphing calculator for $380 and some supplies for $530 from Office Supply; issued Check 1008 for the total.
23 Received Invoice 1602 for $1,650 from Automotive Technicians Repair for repairs to the firm's automobile; issued Check 1009
for half the amount and arranged to pay the other half in 30 days.
Prepare journal entries for the above transactions.
View transaction list
Journal entry worksheet
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1
2
Purchased a graphing calculator for $380 and some supplies for $530 from
Office Supply; issued Check 1008 for the total.
Date
Nov 18, 20X1
3
Note: Enter debits before credits.
Record entry
General Journal
Clear entry
Debit
Credit
View general journal
form the Journal entry of the given transaction:
date/s
transaction
debit
credit
Sep-02
Garcia invested P30,000 cash to start his business.
2
Purchased medical Supplies on account, P10,000
3
Paid monthly office rent of P4,000.
4
Recorded P5,000 revenue for service rendered to patients: received cash of P2,000 and sent bills to patients for the remainder.
10
Borrowed P50,000 from the bank, signing a note payable
15
Performed service for patients on account, P3,600
22
Received cash from patients billed on September 3, P2,000
25
Received and paid a utility bill, P200
26
Paid monthly salary to nurses, P3,000
30
Paid interest expense of P200
how do i do a journal entry for the following.
received cash from clients on account 21,000.00
recorded revenue earned billed to clients during the 1st half of the month 20,900.00
returned a portion of office supplies 50.00
owner withdrawls 10,000 for personal use
Chapter 2 Solutions
Horngren's Accounting (11th Edition)
Ch. 2 - The detailed record of the changes in a particular...Ch. 2 - Which of the following accounts is a liability?...Ch. 2 - The left side of an account is used to record...Ch. 2 - Which of the following statements is correct?...Ch. 2 - Your business purchased office supplies of $2,500...Ch. 2 - Sedlor Properties puchased office supplies on...Ch. 2 - Posting a $2,500 purchase of office supplies on...Ch. 2 - Pixel Copies recorded a cash collection on account...Ch. 2 - Which sequence correctly summarizes the accounting...Ch. 2 - Nathvile Laundry reported assets of $800 and...
Ch. 2 - Identify the three categones of the accounting...Ch. 2 - What is the purpose of the chart of accounts?...Ch. 2 - What does a ledger show? What’s the difference...Ch. 2 - Accounng uses a double-entry system. Explain what...Ch. 2 - What is T-account? On which side is the debit? On...Ch. 2 - Prob. 6RQCh. 2 - Prob. 7RQCh. 2 - Identify which types of accounts have a normal...Ch. 2 - What are source documents? Provide examples of...Ch. 2 - Prob. 10RQCh. 2 - Explain the five steps in journalizing and posting...Ch. 2 - What are the four parts of a journal entry?Ch. 2 - What is involved in the posting process?Ch. 2 - What is the purpose of the trial balance?Ch. 2 - What is the differnce between the trial balance...Ch. 2 - If total debits equal total credits on the trial...Ch. 2 - What is the calculation for the debt ratio?...Ch. 2 - Identifying accounts Learning Objective 1 Consider...Ch. 2 - Identifying increases and decreases in accounts...Ch. 2 - Identifying normal balances Learning Objective 2...Ch. 2 - i Journalizing transactions Jack Davis opened a...Ch. 2 - Journalizing transactions Arkansas Sales...Ch. 2 - (atculaiing the balance of a r-accounl Ac< ounts P...Ch. 2 - Journalizing transactions and posting io I account...Ch. 2 - Preparing a trial balance Henderson Floor...Ch. 2 - Prob. S2.9SECh. 2 - Using accounting vocabulary Learning Objectives 1,...Ch. 2 - Creating a chart of accounts Learning Objective 1...Ch. 2 - Identifying accounts, increases in accounts, and...Ch. 2 - Identifying increases and decreases in accounts...Ch. 2 - Identifying source documents Learning Objective 3...Ch. 2 - Analyzing and journalizing transactions Learing...Ch. 2 - Prob. E2.16ECh. 2 - Prob. E2.17ECh. 2 - Analyzing and journalizing transactions Learning...Ch. 2 - Posting journal entries to four-column accounts...Ch. 2 - Analyzing transactions from T-accounts Learning...Ch. 2 - Prob. E2.21ECh. 2 - Prob. E2.22ECh. 2 - Prob. E2.23ECh. 2 - Journalizing transactions, posting journal entries...Ch. 2 -
i 25 \nalyzing accounting errors
- lime ii is i...Ch. 2 - Prob. E2.26ECh. 2 - Prob. E2.27ECh. 2 - Prob. E2.28ECh. 2 - Prob. P2.29APGACh. 2 - Prob. P2.30APGACh. 2 - pj-.U A f«ornalizing transactions, posting journal...Ch. 2 - P2 U \ Jornn-d./lng i. KK.U lions, polling journal...Ch. 2 - Prob. P2.33APGACh. 2 - Prob. P2.34APGACh. 2 - P2-351' jf n,»l« *ng transaction’., posting...Ch. 2 - Prob. P2.36BPGBCh. 2 - Prob. P2.37BPGBCh. 2 - Prob. P2.38BPGBCh. 2 - Prob. P2.39BPGBCh. 2 - Prob. P2.40BPGBCh. 2 - Prob. P2.41CPCh. 2 - Prob. P2.42PSCh. 2 - Prob. 2.1DCCh. 2 - Prob. 2.1EICh. 2 - Prob. 2.1FCCh. 2 - Prob. 2.1FSC
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