4. Paid rent for period of October 4 to end of month, $2,630. 10. Purchased a used truck for $23,000, paying $2,000 cash and giving a note payable for the remainder 13. Purchased equipment on account, $10,570. 4. Purchased supplies for cash, $1,820. 5. Paid annual premiums on property and casualty insurance, $4,070. Received cash for job completed, $11,380. following transactions on Page 2 of the two-column journal Paid creditor a portion of the amount owed for equipment purchased on October 13, $3,770. Recorded jobs completed on account and sent invoices to customers, $12,950.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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5:06 1
Journal Entries and Trial Balance
2OY4, lav Pryor established an interior decorating business, Pioneer Designs. During the month, Jay completed the folowing transactions relat to
Your story 5s
Oct.
nsferred cash from a personal bank account to an acceunt to be used for the business in exchange for common stock, $27,100.
Paid rent for period of October 4 to end of month, $2.630,
10. Purchased a used truck for $23,000, paying $2,000 cash and giving a note payable for the remainder.
13. Purchased equipment on account, $10,570.
14. Purchased supplies for cash, $1,820.
15. Paid annual premiums on property and casualty insurance, $4,070.
15. Received cash for job completed, $11,380.
ter the following transactions on Page 2 of the two-column journal:
21. Paid creditor a portion of the amount owed for equipment purchased on October 13. $3.770.
24. Recorded jobs completed on account and sent invoices to customers, $12.950.
26. Received an invoice for truck expenses, to be paid in November, $1.190.
27. Paid utilities expense, $1,360.
27 Paid miscellaneous expenses, $490.
29. Recelved cash from customers on account, $5,420.
bo. Paid wages of employees, $3,600.
1. Paid dividends, $3,010.
1. and insert the Pesting References for each transaction in a twcolumn joumal beginng on Page 1, referng to the following chat ofaccounts in selecting the ounts to be debited
and credited If an amount bos does not require an entry, leave t blank
11 Cash
31 Common Stock
12 Acceunts Receivable
33 Dividends
13 Supples
41 Fees taned
14 Prepaid Insurance
Si Wages Expense
16 Equipmene
53 Rent Expense
18 Truck
54 Ue Expense
21 Notes Pavabie
55 Truck Expense
22 Accounts Payable
59 Miscelianeous Epense
General Journal
Page 1
Date
Descriptien
Post. Ref.
Debit
Credit
2014,
Oct 1
Oct. 4
Oct. 10
Oct. 13
Oct. 14
Oct. 15-Insurance
Oct. 15-Fees
General Journal
Page 2
Date
Description
Post. Ref.
Debit
Credi
2014,
Oct 21
oct. 24
Oct. 26
Oct. 27-Utes
Oct. 27-Msc.
Oct. 29
oct. 30
...
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Transcribed Image Text:5:06 1 Journal Entries and Trial Balance 2OY4, lav Pryor established an interior decorating business, Pioneer Designs. During the month, Jay completed the folowing transactions relat to Your story 5s Oct. nsferred cash from a personal bank account to an acceunt to be used for the business in exchange for common stock, $27,100. Paid rent for period of October 4 to end of month, $2.630, 10. Purchased a used truck for $23,000, paying $2,000 cash and giving a note payable for the remainder. 13. Purchased equipment on account, $10,570. 14. Purchased supplies for cash, $1,820. 15. Paid annual premiums on property and casualty insurance, $4,070. 15. Received cash for job completed, $11,380. ter the following transactions on Page 2 of the two-column journal: 21. Paid creditor a portion of the amount owed for equipment purchased on October 13. $3.770. 24. Recorded jobs completed on account and sent invoices to customers, $12.950. 26. Received an invoice for truck expenses, to be paid in November, $1.190. 27. Paid utilities expense, $1,360. 27 Paid miscellaneous expenses, $490. 29. Recelved cash from customers on account, $5,420. bo. Paid wages of employees, $3,600. 1. Paid dividends, $3,010. 1. and insert the Pesting References for each transaction in a twcolumn joumal beginng on Page 1, referng to the following chat ofaccounts in selecting the ounts to be debited and credited If an amount bos does not require an entry, leave t blank 11 Cash 31 Common Stock 12 Acceunts Receivable 33 Dividends 13 Supples 41 Fees taned 14 Prepaid Insurance Si Wages Expense 16 Equipmene 53 Rent Expense 18 Truck 54 Ue Expense 21 Notes Pavabie 55 Truck Expense 22 Accounts Payable 59 Miscelianeous Epense General Journal Page 1 Date Descriptien Post. Ref. Debit Credit 2014, Oct 1 Oct. 4 Oct. 10 Oct. 13 Oct. 14 Oct. 15-Insurance Oct. 15-Fees General Journal Page 2 Date Description Post. Ref. Debit Credi 2014, Oct 21 oct. 24 Oct. 26 Oct. 27-Utes Oct. 27-Msc. Oct. 29 oct. 30 ... Facebook Highlight More
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