Question

Record below listed transactions under the appropriate General Ledger accounts. Be sure to list the Posting Reference number in the space provided under the General Ledger account for each transaction. Remember, each transaction should affect at LEAST two seperate General Ledger accounts.

Posting Reference Date Transaction PR 1 1/1/2020 Record owner's investment of $10,000 cash.

PR 2 1/1/2020 Purchased equipment at a total cost of $6,000. $1,000 of purchase paid with cash and the remainder paid with note payble in the amount of $5,000.

PR 3 1/3/2020 Prepaid three months of insurance expense in the amount of $900 with cash.

PR 4 1/15/2020 Deposited $2,000 for services provided.

PR 5 1/22/2020 Purchased $500 in office supplies with cash.

PR 6 1/31/2020 Deposited $2,500 for services provided.

AJE 1 1/31/2020 Record depreciation for equipment purchased at beginning of January. Equipment total cost was $6,000 with estimate life of 5 years. Record one month of depreciation.

AJE 2 1/31/2020 Record one month of insurance expense for the month of January 2020.

PR 7 2/4/2020 Paid January rent expense of $1,000 with cash.

PR 8 2/7/2020 Received January electricity bill in the amount of $232 to be paid later.

PR 9 2/7/2020 Received January telephone bill in the amount of $85 to be paid later.

PR 10 2/14/2020 Provided $500 in services; payment to be received later.

PR 11 2/25/2020 Paid January electricity bill with cash.

PR 12 2/25/2020 Paid January telephone bill with cash.

PR 13 2/25/2020 Paid $100 on Equipment Note Payable with cash; $84 toward princple and $16 toward interest expense.

PR 14 2/28/2020 Deposited $1,000 from services provided.

AJE 3 2/28/2020 Record depreciation for equipment purchased at beginning of January. Equipment total cost was $6,000 with estimate life of 5 years. Record one month of depreciation.

AJE 4 2/28/2020 Record one month of insurance expense for the month of February 2020.

PR 15 3/4/2020 Paid February rent expense of $1,000 with cash.

PR 16 3/4/2020 Prepaid March 2020 rent expense of $1,000 with cash.

PR 17 3/6/2020 Received February electricity bill in the amount of $200 to be paid later.

PR 18 3/6/2020 Received February telephone bill in the amount of $85 to be paid later.

PR 19 3/9/2020 Received payment for $500 of previously provided services.

PR 20 3/12/2020 Deposited $1,250 for services provided.

PR 21 3/16/2020 Paid $450 in professional fees for legal services with cash.

PR 22 3/25/2020 Paid February electricity bill with cash.

PR 23 3/25/2020 Paid February telephone bill with cash.

PR 24 3/25/2020 Paid $100 on Equipment Note Payable with cash; $84 toward princple and $16 toward interest expense.

PR 25 3/27/2020 Paid $75 for advertising expenses.

PR 26 3/27/2020 Provided $1,200 in services; payment to be received later.

PR 27 3/31/2020 Deposited $2,300 from services provided.

PR 28 3/31/2020 Received bill of $367 for maintenance services provided on equipment to be paid later.

PR 29 3/31/2020 Prepaid $3,000 for three months of rent expense.

PR 30 3/31/2020 Prepaid three months of insurance expense in the amount of $900 with cash.

AJE 5 3/31/2020 Record depreciation for equipment purchased at beginning of January. Equipment total cost was $6,000 with estimate life of 5 years. Record one month of depreciation.

AJE 6 3/31/2020 Record one month of insurance expense for the month of March 2020.

AJE 7 3/31/2020 Record March 2020 rent expense.

AJE 8 3/31/2020 Record March 2020 interest expense on Equipment Note Payable of $16.

AJE 9 3/31/2020 Record March 2020 electricity bill in the amount of $245 to be paid later.

AJE 10 3/31/2020 Record March 2020 telephone bill in the amount of $85 to be paid later.

Answer 1

deposited of service provided , assume that directly depositedcin bank . Hence Seprate Bank Ledger Created. Alternatively its effect can be taken in Cash Ledger account.