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Can you show me what the general ledgers would look like. I have them done just want to double check my work

Can you show me what the general ledgers would look like. I have them done just want to double check my work

FINANCIAL ACCOUNTING
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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Can you show me what the general ledgers would look like. I have them done just want to double check my work
Journal Date Post Description Ref. Debit Credit 101 301 capital snck I barker chail#l Ear ber chMI#2 casn 40,000 110 112 ToT 3,000 S400 INGIrand 3,300 3,300 101 2 orenaia rent cach 8400 8400 supplres 410 201 40 101 2,880 Fers earnd 2,e80 19aanes ex Eense 5ol 50 956 2| accounts Receivalble Fees eamed (00 Cash Fees 101 40 31 carned 3,144 3744 Salarus Ex ben se casn 3000 31 3000 31 dividenas 303 125 125 lation Ex pen se - BC # beoneciation Expence- BCH 2 1-31 SOy 20 2. 22 sa larces exbense salanes payale 31 900 supplies expense suppeces 200 31 300 1 ADJUSTME 1. re 3. A
Transcribed Image Text:Journal Date Post Description Ref. Debit Credit 101 301 capital snck I barker chail#l Ear ber chMI#2 casn 40,000 110 112 ToT 3,000 S400 INGIrand 3,300 3,300 101 2 orenaia rent cach 8400 8400 supplres 410 201 40 101 2,880 Fers earnd 2,e80 19aanes ex Eense 5ol 50 956 2| accounts Receivalble Fees eamed (00 Cash Fees 101 40 31 carned 3,144 3744 Salarus Ex ben se casn 3000 31 3000 31 dividenas 303 125 125 lation Ex pen se - BC # beoneciation Expence- BCH 2 1-31 SOy 20 2. 22 sa larces exbense salanes payale 31 900 supplies expense suppeces 200 31 300 1 ADJUSTME 1. re 3. A
Name АССТ2401 Billy Bob's Barber Shop Project Transactions for January 2020 Use the following transactions to complete the first month of the Billy Bob's Barber Shop. Jan. .1 Billy Bob Caroll organized the barber shop as a corporation and invested his savings of $40,000 cash in the business in return for capital stock. 1 Paid cash for two barber chairs. The first chair (Barber Chair #1) cost $3,000. The second chair (Barber Chair #2) cost $2,400. *See ledger for account titles. Paid cash for a one-year insurance policy $3,300. Paid cash for a help wanted advertisement in the local newspaper, $110. Signed a contract to lease a building for $2,100 per month. Billy paid cash for the first four months in advance. Purchased supplies on account, $410. The barber shop provided haircuts to a total of 240 customers at $12/haircut during the first two weeks of business. The customers paid cash. 12 12 17 19 Paid worker (hair stylist) cash of $750 for the first two weeks of wages. 21 Provided haircuts for a family of five for $60. The family did not have the cash but agreed to pay at the beginning of next month. 31 The barber shop provided haircuts to a total of 312 customers at $12/haircut during the last two weeks of business. The customers paid cash. The barber shop paid Billy a salary of $3,000 for the month. 31 The barber shop paid Billy a dividend of $125. 31 ADJUSTMENT INFORMATION at January 31, 2020 1. Record one month of depreciation on the fixed assets. The fixed assets are depreciated using the straight-line depreciation method AND have the following residual values and useful lives: Residual Value $600 $0 Useful Life 10 years 10 years Barber Chair #1 Barber Chair #2 2. The hair stylist had worked for 9 days at $100 per day, but will not be paid until next month. 3. A physical count of supplies revealed that $110 remains in supplies. 4. Utility bills that have been received but not paid totaled $405. 5. Don't forget to record the adjusting entries for the amount of expired insurance and rent.
Transcribed Image Text:Name АССТ2401 Billy Bob's Barber Shop Project Transactions for January 2020 Use the following transactions to complete the first month of the Billy Bob's Barber Shop. Jan. .1 Billy Bob Caroll organized the barber shop as a corporation and invested his savings of $40,000 cash in the business in return for capital stock. 1 Paid cash for two barber chairs. The first chair (Barber Chair #1) cost $3,000. The second chair (Barber Chair #2) cost $2,400. *See ledger for account titles. Paid cash for a one-year insurance policy $3,300. Paid cash for a help wanted advertisement in the local newspaper, $110. Signed a contract to lease a building for $2,100 per month. Billy paid cash for the first four months in advance. Purchased supplies on account, $410. The barber shop provided haircuts to a total of 240 customers at $12/haircut during the first two weeks of business. The customers paid cash. 12 12 17 19 Paid worker (hair stylist) cash of $750 for the first two weeks of wages. 21 Provided haircuts for a family of five for $60. The family did not have the cash but agreed to pay at the beginning of next month. 31 The barber shop provided haircuts to a total of 312 customers at $12/haircut during the last two weeks of business. The customers paid cash. The barber shop paid Billy a salary of $3,000 for the month. 31 The barber shop paid Billy a dividend of $125. 31 ADJUSTMENT INFORMATION at January 31, 2020 1. Record one month of depreciation on the fixed assets. The fixed assets are depreciated using the straight-line depreciation method AND have the following residual values and useful lives: Residual Value $600 $0 Useful Life 10 years 10 years Barber Chair #1 Barber Chair #2 2. The hair stylist had worked for 9 days at $100 per day, but will not be paid until next month. 3. A physical count of supplies revealed that $110 remains in supplies. 4. Utility bills that have been received but not paid totaled $405. 5. Don't forget to record the adjusting entries for the amount of expired insurance and rent.
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