After journalizing entries, information can be entered into T-Accounts and/or the four-column ledger. Enter the information from the T- Account and calculate the running balance in the appropriate place in the four-column ledger to review the similarities between the two formats. Nov. 1 Nov. 8 Nov. 22 Dec. 21 Dec. 28 Cash 41,000 17,500 29,200 15,100 14,000 6,100 Nov. 2 3,600 Nov. 15 3,900 Nov. 21 8,000 Nov. 25 3,300 1,500 Dec. 1 Dec. 3 Cash Date 2016 Nov. 1 Nov. 2 Nov. 8 Item Post. Ref. J1 J1 J1 Debit Credit Account No. 101 Balance Debit Credit

After journalizing entries, information can be entered into T-Accounts and/or the four-column ledger. Enter the information from the T- Account and calculate the running balance in the appropriate place in the four-column ledger to review the similarities between the two formats. Nov. 1 Nov. 8 Nov. 22 Dec. 21 Dec. 28 Cash 41,000 17,500 29,200 15,100 14,000 6,100 Nov. 2 3,600 Nov. 15 3,900 Nov. 21 8,000 Nov. 25 3,300 1,500 Dec. 1 Dec. 3 Cash Date 2016 Nov. 1 Nov. 2 Nov. 8 Item Post. Ref. J1 J1 J1 Debit Credit Account No. 101 Balance Debit Credit

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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