DATE TRANSACTIONS October 1 Shonna Pumphrey invested $90,000 cash in the business October 2 Paid October office rent of $6,000; issued Check 1001. October 5 Purchased desks and other office furniture for $22,800 from Hudson's Furniture; received Invoice 4067 payable in 60 days. October 6 Issued Check 1002 for $8,200 to purchase art equipment. October 7 Purchased supplies for $3,340; paid with Check 1003. October 10 Issued Check 1004 for $1,250 for office cleaning service. October 12 Performed services for $8,400 in cash and $2,200 on credit. (Use a compound entry.) October 15 Returned damaged supplies for a cash refund of $750. October 18 Purchased a computer for $4,490 from Tolliver's Office Supply, Invoice 8017; issued Check 1005 for a $1,490 down payment, with the balance payable in 30 days. (Use one compound entry.) October 20 Issued Check 1006 for $12,800 to Hudson's Furniture as payment on account for Invoice 4067. October 26 Performed services for $9,600 on credit. October 27 Paid $575 for monthly telephone bill; issued Check 1007. October 30 Received $8,400 in cash from credit customers. October 30 Issued Check 1008 to pay the monthly utility bill of $1,260. October 30 Issued Checks 1009-1011 for $18,000 for monthly salaries. A Required: 1. Journalize the above transactions. 2. Post the above transactions to the ledger accounts. Analyze: What is the balance of account 202 in the general ledger?
DATE TRANSACTIONS October 1 Shonna Pumphrey invested $90,000 cash in the business October 2 Paid October office rent of $6,000; issued Check 1001. October 5 Purchased desks and other office furniture for $22,800 from Hudson's Furniture; received Invoice 4067 payable in 60 days. October 6 Issued Check 1002 for $8,200 to purchase art equipment. October 7 Purchased supplies for $3,340; paid with Check 1003. October 10 Issued Check 1004 for $1,250 for office cleaning service. October 12 Performed services for $8,400 in cash and $2,200 on credit. (Use a compound entry.) October 15 Returned damaged supplies for a cash refund of $750. October 18 Purchased a computer for $4,490 from Tolliver's Office Supply, Invoice 8017; issued Check 1005 for a $1,490 down payment, with the balance payable in 30 days. (Use one compound entry.) October 20 Issued Check 1006 for $12,800 to Hudson's Furniture as payment on account for Invoice 4067. October 26 Performed services for $9,600 on credit. October 27 Paid $575 for monthly telephone bill; issued Check 1007. October 30 Received $8,400 in cash from credit customers. October 30 Issued Check 1008 to pay the monthly utility bill of $1,260. October 30 Issued Checks 1009-1011 for $18,000 for monthly salaries. A Required: 1. Journalize the above transactions. 2. Post the above transactions to the ledger accounts. Analyze: What is the balance of account 202 in the general ledger?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Transcribed Image Text:DATE
TRANSACTIONS
October 1 Shonna Pumphrey invested $90,000 cash in the business
October 2 Paid October office rent of $6,000; issued Check 1001.
October 5 Purchased desks and other office furniture for $22,800 from Hudson's Furniture; received Invoice 4067 payable in 60
days.
October 6 Issued Check 1002 for $8,200 to purchase art equipment.
October 7 Purchased supplies for $3,340; paid with Check 1003.
October 10 Issued Check 1004 for $1,250 for office cleaning service.
October 12 Performed services for $8,400 in cash and $2,200 on credit. (Use a compound entry.)
October 15 Returned damaged supplies for a cash refund of $750.
October 18 Purchased a computer for $4,490 from Tolliver's Office Supply, Invoice 8017; issued Check 1005 for a $1,490 down
payment, with the balance payable in 30 days. (Use one compound entry.)
October 20 Issued Check 1006 for $12,800 to Hudson's Furniture as payment on account for Invoice 4067.
October 26 Performed services for $9,600 on credit.
October 27 Paid $575 for monthly telephone bill; issued Check 1007.
October 30 Received $8,400 in cash from credit customers.
October 30 Issued Check 1008 to pay the monthly utility bill of $1,260.
October 30 Issued Checks 1009-1011 for $18,000 for monthly salaries.
A
Required:
1. Journalize the above transactions.
2. Post the above transactions to the ledger accounts.
Analyze:
What is the balance of account 202 in the general ledger?
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