Journalize and Post Ledger Accounts
Not what you're looking for?
Judi Dench is a licensed architect. During the first month of the operation of her company, Judi Dench, Inc., the following events and transactions occurred.
April
1 - Stockholders invested $25,000 cash in exchange for common stock.
1 - Hired a secretary-receptionist at a salary of $300 per week payable monthly.
2 - Paid office rent for the month $800.
3 - Purchased architectural supplies on account from Halo Company $1,500.
10 - Completed blueprints on a carport and billed client $900 for services.
11 - Received $500 cash advance from R.Welk for the design of a new home.
20 - Received $1,500 cash for services completed and delivered to P. Donahue.
30 - Paid secretary-receptionist for the month $1,500.
30 - Paid $600 to Halo Company for accounts payable due.
Judi uses the following chart of accounts: No. 101 Cash, No. 112 Accounts Receivable, No. 126 Supplies, No. 201 Accounts Payable, No. 205 Unearned Revenue, No. 311 Common Stock, No. 400 Service Revenue, No. 726 Salaries Expense, and No. 729 Rent Expense.
Instructions (Please complete using Excel):
(a) Journalize the transactions.
(b) Post to the ledger accounts.
(c) Prepare a trial balance on April 30, 2006.
Purchase this Solution
Solution Summary
Excel spreadsheets with journal entries, ledger accounts and a trial balance for Judi Dench's architecture company.
Solution Preview
Please see the attached file.
1 Journal entries are given on the first sheet for each transaction with a brief explanation. Please note that there will not be any accounting entry fore mere hiring of a secretary on the 1st ...
Purchase this Solution
Free BrainMass Quizzes
Business Processes
This quiz is intended to help business students better understand business processes, including those related to manufacturing and marketing. The questions focus on terms used to describe business processes and marketing activities.
Change and Resistance within Organizations
This quiz intended to help students understand change and resistance in organizations
Accounting: Statement of Cash flows
This quiz tests your knowledge of the components of the statements of cash flows and the methods used to determine cash flows.
Understanding the Accounting Equation
These 10 questions help a new student of accounting to understand the basic premise of accounting and how it is applied to the business world.
Organizational Leadership Quiz
This quiz prepares a person to do well when it comes to studying organizational leadership in their studies.