Post these transactions from each General Journal into the General Ledger accounts.When posting transactions to the general ledger, use the transaction letters a, b, c, d, or e as the description for each entry. Also, the dates must be entered in the format dd/mmm (ie, 15/Jan). Date1/Jul CashShare Capital(a)2/Jul CashGeneral JournalAccount/ExplanationConsulting Revenue Earned(b)7/Jul Utilities ExpenseCash(c)11/Jul Accounts ReceivableConsulting Revenue Earned(d)16/Jul CashAccounts Receivable(e)F Debit90,0009001501,500900Page GJ9Credit90,0009001501,500900Cash Account No. 101Date Desc. F Debit Credit BalanceAccounts Payable Account No. 201Date Desc. F Debit Credit BalanceShare Capital Account No. 301Date Desc. F Debit Credit BalanceAccounts Receivable Account No. 106Date Desc. F Debit Credit BalanceConsulting Revenue Earned Account No. 403Date Desc. F Debit Credit BalanceUtilities Expense Account No. 690Date Desc. F Debit Credit Balance

The ledger accounts are prepared by posting the journal entries to the specific accounts. The trial…

Date 1/Jul Cash Share Capital (a) 2/Jul Cash Account/Explanation Consulting Revenue Earned (b) 7/Jul Utilities Expense Cash (c) 11/Jul Accounts Receivable Consulting Revenue Earned (d) 16/Jul Cash Accounts Receivable F Debit 90,000 900 150 1,500 900 Credit 90,000 900 150 1,500 900 Date Desc. F Debit Credit Balance Accounts Payable Account No. 201 Date Desc. F Debit Credit Balance Share Capital Account No. 301 Date Desc. F Debit Credit Balance

Date 1/Jul Cash Share Capital (a) 2/Jul Cash Account/Explanation Consulting Revenue Earned (b) 7/Jul Utilities Expense Cash (c) 11/Jul Accounts Receivable Consulting Revenue Earned (d) 16/Jul Cash Accounts Receivable F Debit 90,000 900 150 1,500 900 Credit 90,000 900 150 1,500 900 Date Desc. F Debit Credit Balance Accounts Payable Account No. 201 Date Desc. F Debit Credit Balance Share Capital Account No. 301 Date Desc. F Debit Credit Balance

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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