Can you show me what the general ledgers would look like. I have them done just want to double check my work JournalDatePostDescriptionRef.DebitCredit101301capital snckI barker chail#lEar ber chMI#2casn40,000110112ToT3,000S400INGIrand3,3003,3001012 orenaia rentcach84008400supplres410201401012,880Fers earnd2,e8019aanes ex Eense5ol509562| accounts ReceivalbleFees eamed(00CashFees1014031carned3,1443744Salarus Ex ben secasn300031300031dividenas303125125lation Ex pen se - BC #beoneciation Expence- BCH 21-31SOy202.22sa larces exbensesalanes payale31900supplies expensesuppeces200313001ADJUSTME1.re3. A NameАССТ2401Billy Bob's Barber Shop ProjectTransactions for January 2020Use the following transactions to complete the first month of the Billy Bob's Barber Shop.Jan..1Billy Bob Caroll organized the barber shop as a corporation and invested hissavings of $40,000 cash in the business in return for capital stock.1Paid cash for two barber chairs. The first chair (Barber Chair #1) cost $3,000. Thesecond 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 thefirst four months in advance.Purchased supplies on account, $410.The barber shop provided haircuts to a total of 240 customers at $12/haircut duringthe first two weeks of business. The customers paid cash.12121719 Paid worker (hair stylist) cash of $750 for the first two weeks of wages.21Provided haircuts for a family of five for $60. The family did not have the cash butagreed to pay at the beginning of next month.31The barber shop provided haircuts to a total of 312 customers at $12/haircut duringthe 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 $125.31ADJUSTMENT INFORMATION at January 31, 20201. Record one month of depreciation on the fixed assets. The fixed assets aredepreciated using the straight-line depreciation method AND have the followingresidual values and useful lives:Residual Value$600$0Useful Life10 years10 yearsBarber Chair #1Barber Chair #22. The hair stylist had worked for 9 days at $100 per day, but will not be paid untilnext 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 insuranceand rent.

Answered: Can you show me what the general…

Business

Accounting

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

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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