Having trouble understanding a general ledger. I need a visualization of how to do a general ledger. I am the type of person who learns with examples at hand. Here is the information that I’m working with Accounting ProblemINSTRUCTIONS1 Journal the following entries2 Post the entries to the General ledger3 Prepare a Trial Balance4 Prepare the Financial StatementsJanet Younger started a business using $100,000 of her own money. Younger opened a checking1 accounting and deposited all the funds there.2 Younger purchased $5,000 of equipment and paid cashYounger purchased $6,000 more equipment on account. Office plus extended her credit for thenew computer.4 Younger hired two new employees at a salary of $48,000 each.Younger purchased supplies for $500 in cash.6 Younger paid $2,500 in cash to Office Plus for the computer.7 Younger rented office space paying $6500 in rent for January8 Received $36,000 in cash for services provided to clients.9 Performed more services for $11,000 and agreed the customer, Moe, could pay in two weeks.10 Moe sent in a check for $6,000 on the balance he owned.The firm paid salaries of $8000 for the month.1112 The firm paid utilities of $65013 Janet Younger took a draw of $5000 for personal use.1 Journal the Entries use the lines below to complete the journal entriesDebitCreditAccounts23

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1 Journal the following entries 2 Post the entries to the General ledger 3 Prepare a Trial Balance 4 Prepare the Financial Statements Janet Younger started a business using $100,000 of her own money. Younger opened a checking 1 accounting and deposited all the funds there. 2 Younger purchased $5,000 of equipment and paid cash Younger purchased $6,000 more equipment on account. Office plus extended her credit for the 3 new computer. 4 Younger hired two new employees at a salary of $48,000 each. Younger purchased supplies for $500 in cash. 6 Younger paid $2,500 in cash to Office Plus for the computer. 7 Younger rented office space paying $6500 in rent for January 8 Received $36,000 in cash for services provided to clients. 9. Performed more services for $11,000 and agreed the customer, Moe, could pay in two weeks. 10 Moe sent in a check for $6,000 on the balance he owned. 11 The firm paid salaries of $8000 for the month. 12 The firm paid utilities of $650 13 Janet Younger took a draw of $5000 for personal use.

1 Journal the following entries 2 Post the entries to the General ledger 3 Prepare a Trial Balance 4 Prepare the Financial Statements Janet Younger started a business using $100,000 of her own money. Younger opened a checking 1 accounting and deposited all the funds there. 2 Younger purchased $5,000 of equipment and paid cash Younger purchased $6,000 more equipment on account. Office plus extended her credit for the 3 new computer. 4 Younger hired two new employees at a salary of $48,000 each. Younger purchased supplies for $500 in cash. 6 Younger paid $2,500 in cash to Office Plus for the computer. 7 Younger rented office space paying $6500 in rent for January 8 Received $36,000 in cash for services provided to clients. 9. Performed more services for $11,000 and agreed the customer, Moe, could pay in two weeks. 10 Moe sent in a check for $6,000 on the balance he owned. 11 The firm paid salaries of $8000 for the month. 12 The firm paid utilities of $650 13 Janet Younger took a draw of $5000 for personal use.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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