Homework Help is Here – Start Your Trial Now!
Business
Accounting
1. Use the Following Balance Sheet and Journal Entries to create a Ledger for DR Accounts and Explanations Drawings Ref CR Date 08-Jan Cash 15.000 Balance Sheet for V's Violins As of January 1st, 2020 Assets Cash Accounts Receivable Supplies Prepaid Rent Equipment 15,000 Mr. V withdrew Money 27000 4000 2500 7000 Cash Uneamed Revenue Customer Deposit 1,700 11-Jan 1,700 5500 Accounts Receivable 2,300 2,300 17-Jan Revenue Account Total Asset 46000 Liabilities Accounts Payable Unearned Revenue Bank Loan 900 2500 25000 Accounts Payable 18-Jan Bank Loan Cash Paid off amounts owing 1,500 7,500 9,000 Total Liabilities 36500 Equity Mr. V Capital Equipment 22-Jan Credit Card Payable account 2,500 9500 2,500 V's Violins Total Liabilities · Equity 46000 Food Expense 27-Jan Credit Card Payable Bought Coffee 300 300 Cash 3,000

1. Use the Following Balance Sheet and Journal Entries to create a Ledger for DR Accounts and Explanations Drawings Ref CR Date 08-Jan Cash 15.000 Balance Sheet for V's Violins As of January 1st, 2020 Assets Cash Accounts Receivable Supplies Prepaid Rent Equipment 15,000 Mr. V withdrew Money 27000 4000 2500 7000 Cash Uneamed Revenue Customer Deposit 1,700 11-Jan 1,700 5500 Accounts Receivable 2,300 2,300 17-Jan Revenue Account Total Asset 46000 Liabilities Accounts Payable Unearned Revenue Bank Loan 900 2500 25000 Accounts Payable 18-Jan Bank Loan Cash Paid off amounts owing 1,500 7,500 9,000 Total Liabilities 36500 Equity Mr. V Capital Equipment 22-Jan Credit Card Payable account 2,500 9500 2,500 V's Violins Total Liabilities · Equity 46000 Food Expense 27-Jan Credit Card Payable Bought Coffee 300 300 Cash 3,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question
answer quickly
1. Use the Following Balance Sheet and Journal Entries to create a Ledger for Accounts and Explanations Drawings Ref DR CR 15.000 Date 08-Jan Cash Balance Sheet for V's Violins As of January 1st, 2020 Assets Cash Accounts Receivable Supplies Prepaid Rent Equipment 15,000 Mr. V withdrew Money 27000 4000 2500 7000 Cash Uneamed Revenue Customer Deposit 1,700 11-Jan 1,700 5500 Accounts Receivable 2,300 17-Jan Revenue Account Total Asset 46000 2,300 Liabilities Accounts Payable Unearned Revenue Bank Loan 9000 2500 25000 Accounts Payable 1,500 7.500 18-Jan Bank Loan Cash Paid off amounts owing 9,000 Total Liabilities 36500 Equity Mr. V Capital Equipment 22-Jan Credit Card Payabie account 2,500 9500 2,500 46000 V's Violins Total Liabilities + Equity Food Expense 27-Jan Credit Card Payable Bought Coffee 300 300 Cash 28-Jan Capital 3,000 3,000 Mr. V invested Cash Cash 30-Jan Accounts Receivable Received amount owing 1,500 1,500
Transcribed Image Text:1. Use the Following Balance Sheet and Journal Entries to create a Ledger for Accounts and Explanations Drawings Ref DR CR 15.000 Date 08-Jan Cash Balance Sheet for V's Violins As of January 1st, 2020 Assets Cash Accounts Receivable Supplies Prepaid Rent Equipment 15,000 Mr. V withdrew Money 27000 4000 2500 7000 Cash Uneamed Revenue Customer Deposit 1,700 11-Jan 1,700 5500 Accounts Receivable 2,300 17-Jan Revenue Account Total Asset 46000 2,300 Liabilities Accounts Payable Unearned Revenue Bank Loan 9000 2500 25000 Accounts Payable 1,500 7.500 18-Jan Bank Loan Cash Paid off amounts owing 9,000 Total Liabilities 36500 Equity Mr. V Capital Equipment 22-Jan Credit Card Payabie account 2,500 9500 2,500 46000 V's Violins Total Liabilities + Equity Food Expense 27-Jan Credit Card Payable Bought Coffee 300 300 Cash 28-Jan Capital 3,000 3,000 Mr. V invested Cash Cash 30-Jan Accounts Receivable Received amount owing 1,500 1,500
Expert Solution
steps

Step by step

Solved in 2 steps with 1 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS