Question

Attached is an Income statement for Fleming Company. Your office burned down. You found the following date: Fleming Income Statement: Revenue $20,980 Rent Expense $2,400 Depreciation Expense $ 2,200 Supplies Expense $ 960 Office Expense $1,240 total $ 6,800 Net income $ 14,100

And the following Notes The company paid $15,600 in cash dividends. Accounts receivables decreased by $ 1,480 during the course of the year. Accounts payable increased by $ 380 when they purchased supplies. Total cash increased from $ 460 to $ 3100 Prepare the journal entries that occurred during the year. use T account for each account.

Answer 1

Journal Enteries
Serial No	Particulars	Debit	Credit
1	Accounts Recievables	20980
	To Revenue Ac		20980
2	Supplies Ac	960
	To Accounts Payables Ac		960
3	Cash Ac	22460
	To Accounts Recievables Ac		22460
4	Accounts Payables Ac	580
	To Cash Account		580
5	Rent Account	2400
	Office Expenses Account	1240
	To Cash Account		3640
6	Dividend Paid Ac	15600
	To Cash Account		15600
7	Non Operating Exp	80
	To Expense Payable		80