Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. post the transaction to the ledger. your general l

Post the transaction to the ledger. Your general ledger cash balance uses a full ledger...

50.1K

Verified Solution

Question

Accounting

Post the transaction to the ledger. Your general ledger cash balance uses a full ledger sheet; use the T Chart for all other account

  1. Borrowed $49,000 from the bank and signed a notes payable in the name of the business
  2. Paid cash of $26,500 to acquire land
  3. Performed customer service and earned revenue on account, $5,560
  4. Performed service for a customer and received cash of $5,800
  5. Purchased supplies on account, $350
  6. Paid $3,575 on accounts payable
  7. Paid cash expense for salaries ($4,500) and rent ($2,500); make a compound entry
  8. Received $3,300 on account
  9. Pays $900 in cash for a 3-month auto insurance
  10. Received a $255 utility bill that will be paid next week
  11. Harper withdrew cash of $5,575
  12. Paid maintenance expense of $23
  13. Received $1,500 cash from a customer for 3 months of service
  14. Employees are paid $2,250 every Friday for a 5-day work week. April 30, 2021 is a Wednesday.
  15. Record use of 1 months prepaid auto insurance ($900 for 3 months).
  16. On April 30, 2021, the supplies on hand is $45 (On April 1, 2021 it was $350).
  17. Depreciation for the current month includes equipment ($750) and trucks ($450). Make a compound entry.

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

The RL circuit of the figure is fed from a constant magnitude variable frequency sinusoidal...

Physics
Q

6 Five vectors X Y Z OB and AO are connected as shown in figure...

Physics
Q

25 Mr Howell teaches four geometry classes On the last fest he gave 95 of...

Geometry
Q

What is the value of the trig ratio sin A sin A B 20 C...

Geometry
Q

For the month ended May 31st, Box Etc. Provide the following information: Opening balance 1,000...

Accounting
Q

If material misstatements because of fraud is detected during the audit, how will this be...

Accounting
Q

Question 1 (10 points) A1, D1 What is the flexible budget? What are the main...

Accounting
Q

On October 1, Organic Farming purchases wind turbines for $230,000. The wind turbines are expected...

Accounting
Q

A major benefit of effective budgeting is that OA) it provides benchmarks to evaluate subsequent...

Accounting
Q

Roberts Corporation curtently has 140,000 shaves outstanding of $1 par value common stock. The stock...

Accounting
Q

Required information [The following information applies to the questions displayed below.] At the beginning of...

Accounting
Q

Walmart 2021 annual report. Q - What was the total obligation associated with operating lease?...

Accounting