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/Nov SuppliesGeneral JournalAccount/ExplanationShare Capital(a)6/Nov SuppliesAccounts Payable(b)11/Nov CashRent Earned(c)14/Nov Accounts PayableCash(d)15/Nov Accounts PayableSupplies(e)F Debit95,0003001,30010377Page GJ7Credit95,0003001,30010377Cash 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 BalanceSupplies Account No. 126Date Desc. F Debit Credit BalanceRent Earned Account No. 406Date Desc. F Debit Credit Balance

After posting each journal entry in respective ledgers, we will get closing balance of all the…

General Journal Account/Explanation Date 1/Nov Supplies Share Capital (a) 6/Nov Supplies Accounts Payable (b) 11/Nov Cash Rent Earned (c) 14/Nov Accounts Payable Cash F Page GJ7 Debit Credit 95,000 300 1,300 103 95,000 300 1,300 103 Cash Account No. 101 Date Desc. F Debit Credit Balance Accounts Payable Account No. 201 Date Desc. F Debit Credit Balance

General Journal Account/Explanation Date 1/Nov Supplies Share Capital (a) 6/Nov Supplies Accounts Payable (b) 11/Nov Cash Rent Earned (c) 14/Nov Accounts Payable Cash F Page GJ7 Debit Credit 95,000 300 1,300 103 95,000 300 1,300 103 Cash Account No. 101 Date Desc. F Debit Credit Balance Accounts Payable Account No. 201 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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