Create General Ledger entries based on the information given. Chart of accounts: 1001 Cash 1006 Accounts...

Question

Expert Solution

The accounts used by Crystal Clear Cleaning are provided in the Chart of Accounts (click on “Chart of Accounts” to view). The accounts have already been opened in the General Ledger (click on “General Ledger” to view).

CHART OF ACCOUNTS Affordable Realty General Ledger ASSETS 11 Cash 12 Supplies LIABILITIES 21 Accounts Payable...

7. CHART OF ACCOUNTS Lawn Spray Inc. General Ledger ASSETS 110 Cash 120 Accounts Receivable 131...

Record the adjusting entries in the general journal and post them to the ledger accounts and...

Please use the general journal entries to create the following with the data : Ledger /...

Solve the following problem. Charts of Accounts: CHART OF ACCOUNTS Rowland Company General Ledger ASSETS 11...

A chart of accounts for a business: Select one: a. lists the accounts in the ledger....

How do I create a double ledger accounting system, with a chart of accounts, calculate my...

Complete the General Ledger for the following accounts: Cash, Building, Accounts Pay. - Highland Community Credit...

REQUIRED: Prepare General Ledger, Accounts Receivable Ledger, Accounts Payable Ledger, Trial Balance, Schedule of Accounts Receivable...

In: Accounting

Create General Ledger entries based on the information given.

Chart of accounts:

1001

Cash

1006

Accounts Receivable

1019

Merchandise Inventory

1124

Office supplies

1125

Store supplies

1128

Prepaid insurance

1163

Office equipment

1164

Accumulated Depreciation - Office equipment

1165

Store equipment

1166

Accumulated Depreciation - Store equipment

2001

Accounts payable

3001

Skip Slider, Capital

3002

Skip Slider, Withdrawals

4013

Sales

4014

Sales discounts

4015

Sales returns and allowances

5002

Cost of goods sold

6012

Depreciation expense - Office equipment

6013

Depreciation expense - Store equipment

6020

Office salaries expense

6021

Sales salaries expense

6037

Insurance expense

6041

Rent expense, office space

6042

Rent expense, selling space

6050

Office supplies expense

6051

Store supplies expense

6090

Utilities expense

9001

Income Summary

May 1	Rent Expense-selling space	6042	4000
	Rent Expense-office space	6041	1000
	Cash	1001		5000
May 2	Accounts receivable -John's hardware	1006	4500
	Sales	4013		4500
	Cost of goods sold	5002	2000
	Merchandise inventory	1029		2000
May 3	Sales returns and allowances	4015	150
	Accounts recievable-John's	1006		150
May 4	Merchandise inventory	1019	27027
	Office Supplies	1124	38
	Store Supplies	1125	754
	Accounts payable-Amy's bakery	2001		27819
May 5	Cash	1001	4410
	Sales discounts	4014	90
	Accounts receivable- amy's	1006		4500
May 8	Accounts payable-Amy's	2001	27819
	Cash	1001		27819
May 9	Cash	1001	225
	Store Supplies	6051		225
May 10	Office equipment	1163	2047
	accounts payable-jerry's	2001		2047
May 11	Merchandise inventory	1019	6200
	Accounts payable-Lukes ski shop	1001		6200
May 12	Accounts payable- amy's	2001	97
	Office equipment	1163		97
May 15	Office Salaries	6020	1510
	Sales Salaries	6021	3230
	Cash	1001		4740

	Sales revenue	4013	31280
	Cash	1001		31280
	Cost of goods sold	5002	13200
	Inventory	1019		13200
May 16	Accounts recievable- Dales bike shop	1006	3990
	Sales	4013		3990
	Cost of goods sold	5002	1890
	Merchandise inventory	1019		1890
May 17	Merchandise inventory	1019	23650
	Accounts payable-george's	2001		23650
May 19	Accounts payable-tim's	2001	6076
	Sales discounts	4014		124
	Cash	1001		6076
May 22	Accounts recievable	1006	8650
	Sales	4013		8650
	Cost of goods sold	5002	4990
	Merchandise inventory	1019		4990
May 23	Accounts Payable	2001	23177
	Inventory	1019		473
	Cash	1001		23177
May 24	Merchandise Inventory	1019	8102
	Office Supplies	1124	180
	Store supplies	1125	630
	Accounts payable	2001		9012
May 25	Merchandise inventory	1019	3080
	Accounts payable-Jackson	2001		3080
May 26	Accounts recievable	1006	21315
	Sales	4013		21315
	Cost of goods sold	5002	12230
	Merchandise inventory	1019		12230
	Utilities expense	6090	983

	Cash	1001		983
May 29	Owner withdrawls	3002	4800
	Cash	1001		4800
May 30	Cash	1001	8477
	Sales Discount	4014	173
	Accounts recievable- susan's
	Sales salaries	6021	3230
	Office Salaries	6020	1510
	Cash	1001		4740
May 31	Cash	1001	46025
	Sales	4013		46025
	Cost of goods sold	5002	22500
	Inventory	1019		22500

EX, answer in the format:

Accounts recievable- Balance 0

Office supplies balance- debit- $2430

Store Supplies Balance- debit- $ 3158

Prepaid insurance balance- debit- $6427

Office equipment balance- debit $58752

Accumulated depreciation balance- credit $19898

Store equipment balance- debit- $134960

Accumulated deprecation- store equipment- balance- $27420

Accounts payable- balance- $0

Steve anderson capital- balance- credit- $410593

Steve anderson withdrawls- balance- $0

Sales - balance 0

Sales returns and allowances- 0

Sales discounts- 0

Cost of goods sold 0

deprreciation expense office equipment- 0

depreciation expense store equipment 0

Office salaries expense 0

Insurance expense

rent expense office space

Rent expense selling space

office supplies expense

Store supplies expense

utilities expense

Income summary

Please hit LIKE button if this helped. For any further explanation, please put your query in comment, will get back to you.


Accounts	Date	Debit	Credit	Debit	Credit
Accounts payable	Beg		$ -		$ -
	4		$ 27,819		$ 27,819
	8	$ 27,819			$ -
	10		$ 2,047		$ 2,047
	11		$ 6,200		$ 8,247
	12	$ 97			$ 8,150
	17		$ 23,650		$ 31,800
	19	$ 6,200			$ 25,600
	23	$ 23,650			$ 1,950
	24		$ 8,912		$ 10,862
	25		$ 3,080		$ 13,942

Cash	Beginning	$ 88,900		$ 88,900
	1		$ 5,000	$ 83,900
	5	$ 4,410		$ 88,310
	8		$ 27,819	$ 60,491
	9	$ 225		$ 60,716
	15		$ 36,020	$ 24,696
	19		$ 6,076	$ 18,620
	23		$ 23,177		$ 4,557
	26		$ 983		$ 5,540
	29		$ 4,800		$ 10,340
	30	$ 8,477	$ 4,740		$ 6,603
	31	$ 46,025		$ 39,422

Cost of goods sold	2	$ 2,000		$ 2,000
	15	$ 13,200		$ 15,200
	16	$ 1,890		$ 17,090
	22	$ 4,990		$ 22,080
	26	$ 12,230		$ 34,310
	31	$ 22,500		$ 56,810




Merchandise inventory	2		$ 2,000		$ 2,000
	4	$ 27,027		$ 25,027
	11	$ 6,200		$ 31,227
	15		$ 13,200	$ 18,027
	16		$ 1,890	$ 16,137
	17	$ 23,650		$ 39,787
	19		$ 124	$ 39,663
	22		$ 4,990	$ 34,673
	23		$ 473	$ 34,200
	24	$ 8,102		$ 42,302
	25	$ 3,080		$ 45,382
	26		$ 12,230	$ 33,152
	31		$ 22,500	$ 10,652

Office equipment	Beginning	$ 58,752		$ 58,752
	10	$ 2,047		$ 60,799
	12		$ 97	$ 60,702

Office Salaries	15	$ 1,510		$ 1,510
	30	$ 1,510		$ 3,020

Office Supplies	Beginning	$ 2,430		$ 2,430
	4	$ 38		$ 2,468
	24	$ 180		$ 2,648

Owner withdrawls	29	$ 4,800		$ 4,800

Rent Expense-office space	1	$ 1,000		$ 1,000

Rent Expense-selling space	1	$ 4,000		$ 4,000

Sales	2		$ 4,500		$ 4,500
	15		$ 31,280		$ 35,780
	16		$ 3,990		$ 39,770
	22		$ 8,650		$ 48,420
	26		$ 21,315		$ 69,735
	31		$ 46,025		$115,760

Sales Discount	30	$ 173		$ 173
	5	$ 90		$ 178

Sales returns and allowances	3	$ 150		$ 150



Sales Salaries	15	$ 3,230		$ 3,230
	30	$ 3,230		$ 6,460

Store Supplies	Beginning	$ 3,158		$ 3,158
	4	$ 754		$ 3,912
	9		$ 225	$ 3,687
	24	$ 630		$ 4,317

Utilities expense	26	$ 983		$ 983

Accounts receivable	2	$ 4,500		$ 4,500
	3		$ 150	$ 4,350
	5		$ 4,500		$ 150
	16	$ 3,990		$ 3,840
	22	$ 8,650		$ 12,490
	26	$ 21,315		$ 33,805
	30		$ 8,650	$ 25,155

ekkarill92 answered 3 years ago

12/02/2017 Purchased 475 units of inventory for $2,850 on account from Sparkle, Co. on terms, 3/10, n/20. 12/05/2017 Purchased 600 units of inventory from Borax on account with terms 2/10, n/30. The total invoice was for $4,500, which included a $150 freight charge. 12/07/2017 Returned 75 units of inventory to Sparkle from the December 2 purchase. 12/09/2017 Paid Borax. 12/11/2017 Sold 285 units of goods to Happy Maids for $3,990 on account with terms 3/10, n/30. 12/12/2017 Paid Sparkle. 12/15/2017...

CHART OF ACCOUNTS Affordable Realty General Ledger ASSETS 11 Cash 12 Supplies LIABILITIES 21 Accounts Payable EQUITY 31 Common Stock 33 Dividends REVENUE 41 Sales Commissions EXPENSES 51 Rent Expense 52 Office Salaries Expense 53 Automobile Expense 54 Supplies Expense 55 Miscellaneous Expense On October 1, 20Y6, Jay Crowley established Affordable Realty, which completed the following transactions during the month: Oct. 1 Jay Crowley transferred cash from a personal bank account to an account to be used for the business...

7. CHART OF ACCOUNTS Lawn Spray Inc. General Ledger ASSETS 110 Cash 120 Accounts Receivable 131 Notes Receivable 132 Interest Receivable 141 Merchandise Inventory 145 Office Supplies 151 Prepaid Insurance 181 Land 193 Equipment 194 Accumulated Depreciation-Equipment LIABILITIES 210 Accounts Payable 221 Notes Payable 226 Interest Payable 231 Cash Dividends Payable 241 Salaries Payable 261 Mortgage Note Payable EQUITY 311 Common Stock 312 Paid-In Capital in Excess of Par-Common Stock 315 Treasury Stock 321 Preferred Stock 322 Paid-In Capital in...

Record the adjusting entries in the general journal and post them to the ledger accounts and include narrations and dates. Then prepare the adjusted trial balance. On August 2, Paid $2200 cash for August salon rent. On August 4, Incurred $380 of advertising costs due in 20 days On August 5, Purchased salon equipment for $120 On August 7, Paid for supplies (shampoos, creams, and gels) $350 On August 8, received $280 for selling gels On August 12, paid $180...

Please use the general journal entries to create the following with the data : Ledger / T-accounts showing posting of journal entries. Unadjusted Trial Balance Journal entries: Date Description debit Credit 1 Cash Common stock 1,500 1500 2 Properties Common stock 300 300 3 Loan Note Payable 1000 1000 4 Rent Expense Cash 16 16 5 Property Cash 600 600 5 Rent Expense Cash 24 24 6 Property Cash 200 200 6 Land Cash 400 400 7 Rent Expense Cash...

Solve the following problem. Charts of Accounts: CHART OF ACCOUNTS Rowland Company General Ledger ASSETS 11 Cash 12 Accounts Receivable 13 Prepaid Insurance 14 Supplies 15 Land 16 Building 17 Accumulated Depreciation-Building 18 Equipment 19 Accumulated Depreciation-Equipment LIABILITIES 21 Accounts Payable 22 Unearned Rent 23 Salaries and Wages Payable EQUITY 31 Common Stock 32 Retained Earnings 33 Dividends REVENUE 41 Fees Earned 42 Rent Revenue EXPENSES 51 Salaries and Wages Expense 52 Utilities Expense 53 Advertising Expense 54 Repairs Expense...

A chart of accounts for a business: Select one: a. lists the accounts in the ledger. b. shows the balance of each account in the general ledger. c. is a graph. d. indicates the amount of profit or loss for the period.

How do I create a double ledger accounting system, with a chart of accounts, calculate my fixed and variable costs to ultimately verify estimated profits for an estimated job quote?

Complete the General Ledger for the following accounts: Cash, Building, Accounts Pay. - Highland Community Credit Union, Jackson, Capital. 8/1/2016 Lucas Jackson opened his own landscapping firm called, Jackson's Landscape Design. He invested $120,000 capital into the company from his own personal bank account. 8/3/2016 Lucas Jackson purchased a building for $50,000 building with a mortgage from Highland Community Credit Union, with a 20% downpayment 8/4/2016 Lucas Jackson purchasd a lawmower on credit from Michael's Lawn Equipment for $2,500 8/5/2016...

Date (CASH 1001)

April 30 Balance

REQUIRED: Prepare General Ledger, Accounts Receivable Ledger, Accounts Payable Ledger, Trial Balance, Schedule of Accounts Receivable and Schedule of Accounts Payable from the following information and Journals using T Accounts with a balance column. Grassley Company completes these transactions during November of the current year (terms for all its credits sales are 2/10, n/30). Nov.1 Purchased $5,058 of office equipment on credit from Brun supply, invoice dated November 1, terms n/10 EOM. 2 Borrowed $88, 500 cash from Wisconsin Bank...