Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 1) journal \& ledger examples: (60 points) 1.

1) Journal \& Ledger Examples: (60 points) 1. Chip Company receixed...

90.2K

Verified Solution

Question

Accounting

image
1) Journal \& Ledger Examples: (60 points) 1. Chip Company receixed 300.000 cshh for eRprpen wock, on 01.11.2022. 2. Gbin Company purchased a building and paid 50.000 Eabh, on 05.11.2022. 3. Chir Company perforpedservices for clients on account 25.000, on 07.11.2022. 4. Cbir Company paid 2.500 sash for office rathon 08.11.2022. 5. Chir Company paid cash 6.000 for explexeesalaries on 09.11.2022. 6. Chir Company purchase, 30.000 lang on account, on 15.11.2022. 7. GhiR Company collected, 17.000 cash from client in Irapsaction 3, on 20.11.2022. 8. Chin Company paich 8.000 cah for dixiderds, on 21.11.2022. 9. Chip Company bajh 15.000 for lang from Tropaction 6, on 29.11.2022. Please do journal and ledger records of Chip Company. 2) Closing Process Example: (40 points) Lemon Company has a 53.000 credit balance in Service Revenue account, 11.000 debit balance in Rent Expense account, 3.000 debit in Utilities Expense, 25.000 debit balance in Salaries Expense account, and 6.000 debit balance in dividends account. Please do journal and ledger closing records of Lemon Company

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

A sample of 15 measurements, randomly selected from a normally distributed population, resulted in a sample...

Basic Math
Q

The primary target for glucagon is the___ Liver Pancreas Kidney Pituitary gland Hypothalamus Releasing and inhibiting hormones are produced by the ___ Hypothalamus Anterior...

Medical Sciences
Q

3 Three particles of masses 1 kg 2 kg and 3 kg are situated at...

Physics
Q

Find WX W U 8x 1 A 35 B 29 C 24 10x 5 7x...

Geometry
Q

In traveling across flat land you notice a mountain directly in front of you Its...

Calculus
Q

El Arroyo North has 20 employees within Denver City and County....

Accounting
Q

Cash collections from customers for credit sales are greater than sales revenues from credit sales...

Accounting
Q

For purposes of the related party rules, the taxpayer's parents are "related persons," but the...

Accounting
Q

Listed below are steps of procuring materials for production: 1. The receiving clerk checks the...

Accounting
Q

Glover Company makes three products in a single facility. These products have the following unit...

Accounting
Q

ABC company is thinking to change the capital structure of the firm. The Company has...

Accounting
Q

Describe each of the following ratios and explain what types of economic activity they measure....

Accounting