Journalize the October transactions (Credit account titles are automatically indented when amount is entered. Do not indentmanually no entry is required, select "No Entry for the account titles and enter for the amounts. Record journal entries in the apresented in the problem List all debit entries before credit entries)DateAccount TitlesTa recard the rent expense)Ta recard the salaris expere)DebitICredit Clark Ca's ledger is as follows:Oct 1 1,290 Oct 3500Oct10Cash15 2,8402185025 1,550Oct 4Accounts Receivable20 ୨୨୦6 1,070 Oct 21 8.50Supplies870EquipmentOct 3 5,350Notes PayableOctOct 12 400 OctAccounts Payable12Oct 30 53030 5303128031 590A. Clark, CapitalOct 28 350A. Clark, DrawingsOct 31 280Service RevenueOct3 5,02028Oct 31 590Salaries Exper|330400Oct 1 1,28025 1,550Advertising ExpenseRent Expense8703506 1,0701015 2,94020500890

The journal entries are prepared to record the transactions on a regular basis. The T-accounts are…

Clark Ca's ledger is as follows: Oct 1 1,280 Oct 3 Oct 10 Oct Cash 15 2,840 21 850 25 1,550 500 Oct 6 1,070 Oct 21 4 Accounts Receivable 20 890 Oct 12 Supplies 870 Equipment 3 5,350 12 400 30 530 31 280 31 590 Notes Payable Oct Accounts Payable Oct 30 530 3 5,020 A. Clark, Capital 330 400 Oct 4 870 28 350 A. Clark, Drawings 850 Oct 1 1,280 25 1,550 Service Revenue 10 Oct 6 1,070 500

Clark Ca's ledger is as follows: Oct 1 1,280 Oct 3 Oct 10 Oct Cash 15 2,840 21 850 25 1,550 500 Oct 6 1,070 Oct 21 4 Accounts Receivable 20 890 Oct 12 Supplies 870 Equipment 3 5,350 12 400 30 530 31 280 31 590 Notes Payable Oct Accounts Payable Oct 30 530 3 5,020 A. Clark, Capital 330 400 Oct 4 870 28 350 A. Clark, Drawings 850 Oct 1 1,280 25 1,550 Service Revenue 10 Oct 6 1,070 500

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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Requlred Informetion [The following information applies to the questions displayed below.] The December bank statement and cash T-account for Stewart Company follow: BANK STATEMENT Checks Deposits Balance $ 48,000 40, 380 67,830 53,930 ৪9, 938 88,970 88,470 88,520 88,370 Date Other Dec. 1 $ 7,620 558 $28, 000 13,900 11 17 23 36, e00 26 960 30 NSF* $300 50 19, 200 19, e00 31 Interest earned 31 Service charge 150 NSF check from J. Left, a customer. Cash (A) Dec. 1 Balance 48, e00 Deposits Dec. 11 23 Checks written during December: 7,620 28, 800 36, ee0 19,e00 13,e00 550 30 13,900 960 31 150 19,200 4,500 Dec. 31 Balance 97,120 There were no deposits in transit or outstanding checks at November 30. Requlred: 1. Identify and list the deposits in transit at the end of December. (Select all that apply.) $28,000 $36,000 $19,000 $13,000 2. [dentify and list the outstanding checks at the end of December (Select all that apply.) $7,620 $550 $13,900 $880 $150 $19,200 $4,500 OOUI
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Madison Company's cash ledger reports the following for the month ending March 31. Date Amount No. Date Amount Deposits: 3/4 $ 1,400 Checks: 541 3/2 $ 5,700 3/11 1,700 542 3/8 700 3/18 3,700 543 3/12 3,000 3/25 3,500 544 3/19 1,500 Cash receipts: 3/26-3/31 2,100 545 3/27 700 $ 12,400 546 3/28 800 547 3/30 1,200 Balance on March 1 $ 6,100 $ 13,600 Receipts 12,400 Disbursements (13,600 ) Balance on March 31 $ 4,900 Information from March's bank statement and company records reveal the following additional information: The ending cash balance recorded in the bank statement is $6,970. Cash receipts of $2,100 from 3/26–3/31 are outstanding. Checks 545 and 547 are outstanding. The deposit on 3/11 included a customer's check for $410 that did not clear the bank (NSF check). Check 543 was written…
how do you do the IF formula?
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