In: Accounting
Problem
1. Journalize the following selected transactions for April 2013 in a two-column journal. Journal entry explanations may be omitted.
April 1 |
Received cash from stockholder, Kevin Marks, in return for stock, $14,000. |
2 |
Received cash for providing accounting services, $9,500. |
3 |
Billed customers on account for providing services, $4,200. |
4 |
Paid advertising expense, $700. |
5 |
Received cash from customers on account, $2,500. |
6 |
Dividends paid, $1,010. |
7 |
Received telephone bill, $900. |
8 |
Paid telephone bill, $900. |
Date |
Description |
Post Ref |
Debit |
Credit |
2. Journalize in a two column journal the adjusting entries required at August 31, 2013. Omit explanations.
1. Fees accrued but unbilled are $4,500.
2. The supplies account balance on December 31 is $5,250. The supplies on hand are $1,015.
3. Wages accrued but not paid are $3,500.
4. Depreciation of office equipment is $2,200.
5. Rent expired during year, $7,800.
Date |
Description |
Post Ref |
Debit |
Credit |