Class 10 Activities (1)

2. Journalize the entries to record the transactions, and post to the eight selected accounts. Assume that the closing entry for revenues and expenses has been made and post net income of $1,196,500 to the retained earnings account. Refer to the Chart of Accounts for exact wording of account titles. When required, round your answers to the nearest dollar. PAGE 10   JOURNAL ACCOUNTING EQUATION     DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY 1                 2                 3                 4                 5                 6                 7                 8                 9                 10                 11                 12                 13                 14…

1.  Journalize each transaction in a two-column journal starting on Page 1, referring to the chart of accounts in selecting the accounts to be debited and credited. (Do not insert the account numbers in the journal at this time.) Note: Scroll down to access pages 2 through 4 of the journal. PAGE 1   JOURNAL ACCOUNTING EQUATION     DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY 1                 2                 3                 4                 5                 6                 7                 8                 9                 10                 11                 12                 13                 14                 15                 16…

1a. Journalize the entries to record the 20Y1 transactions. Round all amounts to the nearest dollar. Refer to the Chart of Accounts for exact wording of account titles.     JOURNAL ACCOUNTING EQUATION     DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY 1                 2                 3                 4                 5                 6                       1b. Journalize the entries to record the 20Y2 transactions. Refer to the Chart of Accounts for exact wording of account titles. Round all amounts to the nearest dollar.     JOURNAL ACCOUNTING EQUATION     DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY 1                 2                 3                 4                 5…

Post these transactions from each General Journal into the General Ledger accounts. When posting transactions to the general ledger, use the transaction letters a, b, c, d, or e as the description for each entry. Also, the dates must be entered in the format dd/mmm (ie, 15/Jan).

Journalize the transactions. Refer to the Chart of Accounts for exact wording of account titles. PAGE 10   JOURNAL ACCOUNTING EQUATION     DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY 1                 2                 3                 4                 5                 6                 7                 8                 9                 10                 11                 12                 13                 14                 15                 16                 17                 18                 19                 20                 21…

Transaction 1: Received interest of $200 cash from bonds held as an investmentPlease fill all the T - Accounts for this transaction as shown (GL) General Ledger (T-Accounts) complete the general journal entry as well as complete the general ledger t account

Greg Thomas purchased one-half of lan Hamilton's interest in the Freidman and Hamilton partnership for $35,250. Prior to the investment, land was revalued to a market value of $146,000 from a book value of $88,000. Adam Freidman and lan Hamilton share net income equally. Hamilton had a capital balance of $27,800 prior to these transactions. Required: a. On December 31, provide the journal entry for the revaluation of land.* b. On December 31, provide the journal entry to admit Thomas.*

JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY 1 2 3 4 5 6 7 8 9 10 11 12 13

DIRECTION: In bond/yellow paper or columnar pad, a. Journalize the transactions b. Post the transactions to the T-account c. Prepare a trial balance d. Prepare the financial statements Mr. Uzumaki Naruto invested for an IT business in July 1, 2022. The following transactions took place during the month. July 01 July 02 July 04 July 05 July 10 July 15 July 17 July 20 July 21 July 23 July 24 July 27 July 27 July 29 July 30 July 30 U. Naruto invested for an IT business in cash. Purchased computer in cash. Purchased supplies on account. Purchased printer on account. Paid partial to supplier payable on supplies. Sold payroll program on account. Did service to computer for cash. Partial collection of accounts receivable. Paid electrical bill in cash. Paid rental space for the month. Paid payable to suppliers on supplies. Paid salaries to employees. Paid telephone bills. Acquire loan from the bank payable in two years. U. Naruto withdraws cash. Made partial payment to bank loan. P 150,000.00…

The following transaction has been recorded in the general journal: Account Title Credit Interest Expense Interest Payable 150 How will this transaction affect the company's financial statements after it is posted to the ledger accounts? Multiple Choice Debit 150 Increases Retained Earnings Decreases Stockholders' Equity Decreases Total Liabilities Decreases Total Assets

(a) On March 1, journalize the entry to record the write-off, assuming that the direct write-off method is used. Refer to the Chart of Accounts for exact wording of account titles.PAGE 1JOURNALACCOUNTING EQUATIONDATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY12(b) On March 1, journalize the entry to record the write-off, assuming that the allowance method is used. Refer to the Chart of Accounts for exact wording of account titles.PAGE 1JOURNALACCOUNTING EQUATIONDATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY12

Match each account or description on the left with the appropriate classification on the right. v Discount on bonds payable A. Expense v Common stock B. Owners' equity v Prepaid insurance C. Contra-liability v Retained earnings D. Asset v Income taxes owed but not yet paid E. Liability v Cost of goods sold v Prepaid insurance that is used up during a period v Amounts deposited in a checking account v Inventory v Bonds payable arch

Requirement No. General Journal No. Date July 01 Date June 30 General Ledger Each journal entry is posted automatically to the general ledger. Think of the general ledger as sorting all of your journal entries by account title. Click on any of the individual amounts to return to the underlying journal entry. Cash Debit Common stock Debit Trial Balance Credit Credit 000 Schedule of Receivables General Ledger Account Balance 27,000 Balance 1 of 1 Income Statement MacBook Air F6 Merchandise Inventory Debit Impact on Income Next F7 Credit DII FO Balance 13,000