Mastery Problem Journalizing transactions and posting to a generalledger LO3, 4, 5, 6Brian Ford owns a service business called Ford Lawn and Garden. FordLawn and Garden's general ledger accounts are given in the WorkingPapers. Transactions:Feb. 1. Received cash from owner as an investment, $11,000.00. R1. 3. Paid cash for supplies, $800.00. C1.5. Received cash from sales, $1,800.00. T5.6. Sold services on account to Clara Walthers, $560.00. $1. 9. Paid cash for rent, $1,200.00. C2.11. Paid cash for miscellaneous expense, $100.00. C3.13. Bought supplies on account from Corner Supplies, $480.00. MI.13. Received cash from sales, $860.00. T13.16. Paid cash for advertising, $286.00. C4. 18. Paid cash on account to Corner Supplies, $280.00. C5.20. Paid cash for electric bill, $460.00. C6.20. Received cash on account from Clara Walthers, $300.00. R2. 25. Paid cash for supplies, $300.00. C7.27. Paid cash for supplies, $160.00. C8. 27. Received cash from sales,$4,200.00. T27.28. Paid cash to owner for a withdrawal of equity, $1,000.00. C9.28. Received cash from sales, $220.00. T28. Instructions:1. Open an account for Utilities Expense. Use the 3-digit numberingsystem described in the chapter. 2. Journalize the transactions completed during February of the currentyear. Use page 1 of a journal. Source documents are abbreviated asfollows: check, C; memorandum, M; receipt, R; sales invoice; S; calculator tape, T.3. Prove the journal.4. Prove cash. The beginning cash balance on February 1 is zero. Thebalance on the next unused check stub is $13,794.00.5. Rule the journal. 6. Post from the journal to the general ledger.

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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Mastery Problem Journalizing transactions and posting to a general
ledger LO3, 4, 5, 6
Brian Ford owns a service business called Ford Lawn and Garden. Ford
Lawn and Garden's general ledger accounts are given in the Working
Papers.

Transactions:
Feb. 1. Received cash from owner as an investment, $11,000.00. R1.

3. Paid cash for supplies, $800.00. C1.
5. Received cash from sales, $1,800.00. T5.
6. Sold services on account to Clara Walthers, $560.00. $1.

9. Paid cash for rent, $1,200.00. C2.
11. Paid cash for miscellaneous expense, $100.00. C3.
13. Bought supplies on account from Corner Supplies, $480.00. MI.
13. Received cash from sales, $860.00. T13.
16. Paid cash for advertising, $286.00. C4.

18. Paid cash on account to Corner Supplies, $280.00. C5.
20. Paid cash for electric bill, $460.00. C6.
20. Received cash on account from Clara Walthers, $300.00. R2.

25. Paid cash for supplies, $300.00. C7.
27. Paid cash for supplies, $160.00. C8. 27. Received cash from sales,
$4,200.00. T27.
28. Paid cash to owner for a withdrawal of equity, $1,000.00. C9.
28. Received cash from sales, $220.00. T28.

Instructions:
1. Open an account for Utilities Expense. Use the 3-digit numbering
system described in the chapter.

2. Journalize the transactions completed during February of the current
year. Use page 1 of a journal. Source documents are abbreviated as
follows: check, C; memorandum, M; receipt, R; sales invoice; S; calculator tape, T.
3. Prove the journal.
4. Prove cash. The beginning cash balance on February 1 is zero. The
balance on the next unused check stub is $13,794.00.
5. Rule the journal. 6. Post from the journal to the general ledger.

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