Homework Help is Here – Start Your Trial Now!
Business
Accounting
mart of Accounts X Instructions Garcia Associates Co. On February 14, Garcia Associates Co. paid $2,150 to repair the transmission on one of its delivery vans. In addition, Garcia paid $400 to install a GPS system in General Ledger ASSETS REVENUE Journalize the entries for the transmission and GPS system. Refer to the Chart of Accounts for exact wording of account titles. 110 Cash 410 Sales 111 Petty Cash 610 Interest Revenue 112 Accounts Receivable 620 Gain on Sale of Delivery 114 Interest Receivable Truck 115 Notes Receivable 621 Gain on Sale of Equipment 116 Merchandise Inventory 117 Supplies EXPENSES Journal 510 Cost of Merchandise Sold 119 Prepaid Insurance 120 Land 520 Salaries Expense Journalize the entries for the transmission and GPS system. Refer to the Chart of Accounts for exact wording of account titles. 123 Delivery Van 521 Advertising Expense 124 Accumulated Depreciation- 522 Depreciation Expense- Delivery Van Delivery Truck 125 Equipment 523 Delivery Expense JOURNAL 524 Repairs and Maintenance ACCOUNTING FOU ASSETS 126 Accumulated Depreciation- DATE DESCRIPTION POST. REF. DEBIT CREDIT LIABILITIES Equipment Expense 130 Mineral Rights 529 Selling Expenses 531 Rent Expense 131 Accumulated Depletion 132 Goodwill 532 Depreciation Expense- Equipment 133 Patents 533 Depletion Expense

mart of Accounts X Instructions Garcia Associates Co. On February 14, Garcia Associates Co. paid $2,150 to repair the transmission on one of its delivery vans. In addition, Garcia paid $400 to install a GPS system in General Ledger ASSETS REVENUE Journalize the entries for the transmission and GPS system. Refer to the Chart of Accounts for exact wording of account titles. 110 Cash 410 Sales 111 Petty Cash 610 Interest Revenue 112 Accounts Receivable 620 Gain on Sale of Delivery 114 Interest Receivable Truck 115 Notes Receivable 621 Gain on Sale of Equipment 116 Merchandise Inventory 117 Supplies EXPENSES Journal 510 Cost of Merchandise Sold 119 Prepaid Insurance 120 Land 520 Salaries Expense Journalize the entries for the transmission and GPS system. Refer to the Chart of Accounts for exact wording of account titles. 123 Delivery Van 521 Advertising Expense 124 Accumulated Depreciation- 522 Depreciation Expense- Delivery Van Delivery Truck 125 Equipment 523 Delivery Expense JOURNAL 524 Repairs and Maintenance ACCOUNTING FOU ASSETS 126 Accumulated Depreciation- DATE DESCRIPTION POST. REF. DEBIT CREDIT LIABILITIES Equipment Expense 130 Mineral Rights 529 Selling Expenses 531 Rent Expense 131 Accumulated Depletion 132 Goodwill 532 Depreciation Expense- Equipment 133 Patents 533 Depletion Expense

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
icon
Concept explainers
Question
Instructions Chart of Accounts Journal Instructions Chart of Accounts Garcia Associates Co. On February 14, Garcia Associates Co. paid $2,150 to repair the transmission on one of its delivery vans. In addition, Garcia paid $400 to install a GPS system in its van. General Ledger Journalize the entries for the transmission and GPS system. Refer to the Chart of Accounts for exact wording of account titles. ASSETS REVENUE 110 Cash 410 Sales 111 Petty Cash 610 Interest Revenue 112 Accounts Receivable 620 Gain on Sale of Delivery 114 Interest Receivable Truck 115 Notes Receivable 621 Gain on Sale of Equipment 116 Merchandise Inventory 117 Supplies EXPENSES Journal 510 Cost of Merchandise Sold 119 Prepaid Insurance 120 Land 520 Salaries Expense Journalize the entries for the transmission and GPS system. Refer to the Chart of Accounts for exact wording of account titles. 123 Delivery Van 521 Advertising Expense 124 Accumulated Depreciation- 522 Depreciation Expense- PAGE 1 Delivery Van Delivery Truck 125 Equipment 523 Delivery Expense JOURNAL 126 Accumulated Depreciation- 524 Repairs and Maintenance ACCOUNTING FOLUATION. EQUITY DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES Equipment Expense 1 130 Mineral Rights 529 Selling Expenses 2 131 Accumulated Depletion 531 Rent Expense 132 Goodwill 532 Depreciation Expense- 4 Equipment 133 Patents 533 Depletion Expense 3.
Transcribed Image Text:Instructions Chart of Accounts Journal Instructions Chart of Accounts Garcia Associates Co. On February 14, Garcia Associates Co. paid $2,150 to repair the transmission on one of its delivery vans. In addition, Garcia paid $400 to install a GPS system in its van. General Ledger Journalize the entries for the transmission and GPS system. Refer to the Chart of Accounts for exact wording of account titles. ASSETS REVENUE 110 Cash 410 Sales 111 Petty Cash 610 Interest Revenue 112 Accounts Receivable 620 Gain on Sale of Delivery 114 Interest Receivable Truck 115 Notes Receivable 621 Gain on Sale of Equipment 116 Merchandise Inventory 117 Supplies EXPENSES Journal 510 Cost of Merchandise Sold 119 Prepaid Insurance 120 Land 520 Salaries Expense Journalize the entries for the transmission and GPS system. Refer to the Chart of Accounts for exact wording of account titles. 123 Delivery Van 521 Advertising Expense 124 Accumulated Depreciation- 522 Depreciation Expense- PAGE 1 Delivery Van Delivery Truck 125 Equipment 523 Delivery Expense JOURNAL 126 Accumulated Depreciation- 524 Repairs and Maintenance ACCOUNTING FOLUATION. EQUITY DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES Equipment Expense 1 130 Mineral Rights 529 Selling Expenses 2 131 Accumulated Depletion 531 Rent Expense 132 Goodwill 532 Depreciation Expense- 4 Equipment 133 Patents 533 Depletion Expense 3.
Expert Solution
steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Receivables Management
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS