how would I post this to question to a general journal; June 25:
Collection from credit-card companies Received a check from the
credit card company (American Credit Card Company) for the June 17
balance of its account, minus the 4% collection fee. Click on
Journals/Ledgers/Statement, select General Ledger, and click on
Ledger Card. From the textbox select the Accounts Receivable –
Credit Card Companies account, then click on Show Ledger Card.
Examine the account to determine the balance on June...
Part 1 – General Journal – Post the following
journal entries to the general journal.
Trans.
Date
Description
1
May 1
Sell 50,000 shares of common stock for $50,000 to obtain the
funds necessary to start your business.
2
May 1
Borrow $20,000 from the local bank and sign a note promising to
repay the full amount of the debt in 5 years.
3
May 1
Issue 1,500 shares of $2 par value preferred stock at
$30/share.
4
May...
Prepare General Journal Entries for the following
transactions. Then post the journal entries to the General Ledger
provided and then prepare an Unadjusted Trial Balance. March
1Dunlop invested $30,000 cash and buildings worth $150,000 in the
company March 2The company rented equipment by paying $2,000 cash
for the first month’s (March) rent. March 5The company purchased
$2,400 of office supplies for cash. March 10The company paid
$7,200 cash for the premium on a 12-month insurance policy.
Coverage begins on March...
Part 2 – General Journal (LO3-2) – Post the following journal
entries to the general journal. ?
Trans:
May 1 Sell 100,000 shares of common stock for $100,000 to obtain
the funds necessary to start your business. ?
May 1 Borrow $50,000 from the bank and sign a note promising to
repay the full amount of the debt in 5 years. ?
May 1 Issue 1,000 shares of $2 par value preferred stock at
$30/share. ?
May 1 ? Purchase...
GENERAL JOURNAL
1)Post the transactions from the general journal to the general
ledger accounts. To confirm that the posting has been performed, a
posting reference is recorded in the Post Ref. column in the
general journal.
Date
Account and Explanation
Post
Ref.
Debit
Credit
Jun
1
Cash
104,000
Jun
1
Capital
104,000
(capital contribution)
Jun
1
Music Equipment
48,000
Jun
1
Cash
48,000
(cash purchase of equipment)
Jun
1
Cash
186,000
Jun
1
Bank Loan Payable
186,000
(received cash loan)...
1.) Record February and March transactions in the General
Journal and post to the General Ledger.
2.) Record adjusting entries for February and March in the
General Journal and post to the General Ledger.
3.) Prepare the adjusted trial balance as of February 28 and
March 31.
4.) Prepare the following February and March financial
statements:
a) Income Statement for month ended February 28 and March 31
b) Statement of Stockholders Equity for month ended February 28
and March 31...
Record February transactions in the General Journal and post to
the General Ledger.
Record adjusting entries for February in the General Journal
and post to the General Ledger.
Prepare the adjusted trial balance as of February 28
Prepare the following February financial statements:
a) Income Statement for month ended February 28
b) Statement of Stockholders Equity for month ended February
28
c) Balance Sheet as of February 28
d) Statement of Cash Flows for month ended February 28
Record February...
1. Record January transactions in the General Journal and post
to the General Ledger.
2. Record adjusting entries for January in the General Journal
and post to the General Ledger.
3. Prepare the adjusted trial balance as of January 31.
January Transactions
1-Jan
Performed car repair services
and received cash at the time of sale, $4,990.
2-Jan
Paid for the car parts
purchased on account last year, $1,170.
4-Jan
Paid wages and salaries for
$3,190, part of which was accrued...