No. Accounts Title & Explanation Debit Credit 1 Prepaid Insurance 5,400 Cash 5,400 2 Uniform Inventory 146,000 Accounts Payable 146,000 3e Account Receivable 193,800 Sales Revenue 193,800 (To record the sale of goods) 3b Cost of Good Sold 100,000 Inventory 100,000 (To record the cost) 4 Cash 134,625 Accounts Receivable 403,875 Service Revenue 538,500 5 Accounts Payable 137,100 Cash 137,100 6 Cash 246,000 Accounts Receivable 246,000 7 Advertising Expense 13,700 Cash 13,700 8 Interest expense 10,500 Bank Loan Payable 30,000 Cash 40,500 9 Cash 3,000 Dividend Revenue 3,000 10 Utility Expense 16,600 Cash 16,600 11 Dividends Declared 14,400 Cash 14,400 12s Wages Expense 94,000 Wage Payable 8,000 Cash 102,000 (To record accrued wages) 12b Wages Expense 2000 Wage Payable 2000 13 Depreciation Expense 30,000 Accumulated Depreciation Equipment 30,000 14 Insurance expense 1,800 Prepaid Insurance 1,800 Enter the beginninin belances from 2023, post the 2024 journal entries and determine the ending balances for 2024 ( Post entries in the order of jounel entries presented in the previous part. If beginning is zero, enter in the column for the normal balance for that account
No. Accounts Title & Explanation Debit Credit 1 Prepaid Insurance 5,400 Cash 5,400 2 Uniform Inventory 146,000 Accounts Payable 146,000 3e Account Receivable 193,800 Sales Revenue 193,800 (To record the sale of goods) 3b Cost of Good Sold 100,000 Inventory 100,000 (To record the cost) 4 Cash 134,625 Accounts Receivable 403,875 Service Revenue 538,500 5 Accounts Payable 137,100 Cash 137,100 6 Cash 246,000 Accounts Receivable 246,000 7 Advertising Expense 13,700 Cash 13,700 8 Interest expense 10,500 Bank Loan Payable 30,000 Cash 40,500 9 Cash 3,000 Dividend Revenue 3,000 10 Utility Expense 16,600 Cash 16,600 11 Dividends Declared 14,400 Cash 14,400 12s Wages Expense 94,000 Wage Payable 8,000 Cash 102,000 (To record accrued wages) 12b Wages Expense 2000 Wage Payable 2000 13 Depreciation Expense 30,000 Accumulated Depreciation Equipment 30,000 14 Insurance expense 1,800 Prepaid Insurance 1,800 Enter the beginninin belances from 2023, post the 2024 journal entries and determine the ending balances for 2024 ( Post entries in the order of jounel entries presented in the previous part. If beginning is zero, enter in the column for the normal balance for that account
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Transcribed Image Text:No. Accounts Title & Explanation Debit Credit
1 Prepaid Insurance 5,400
Cash 5,400
2 Uniform Inventory 146,000
Accounts Payable 146,000
3e Account Receivable 193,800
Sales Revenue 193,800
(To record the sale of goods)
3b Cost of Good Sold 100,000
Inventory 100,000
(To record the cost)
4 Cash 134,625
Accounts Receivable 403,875
Service Revenue 538,500
5 Accounts Payable 137,100
Cash 137,100
6 Cash 246,000
Accounts Receivable 246,000
7 Advertising Expense 13,700
Cash 13,700
8 Interest expense 10,500
Bank Loan Payable 30,000
Cash 40,500
9 Cash 3,000
Dividend Revenue 3,000
10 Utility Expense 16,600
Cash 16,600
11 Dividends Declared 14,400
Cash 14,400
12s Wages Expense 94,000
Wage Payable 8,000
Cash 102,000
(To record accrued wages)
12b Wages Expense 2000
Wage Payable 2000
13 Depreciation Expense 30,000
Accumulated Depreciation Equipment 30,000
14 Insurance expense 1,800
Prepaid Insurance 1,800
Enter the beginninin belances from 2023, post the 2024 journal entries and determine the ending balances for 2024 (
Post entries in the order of jounel entries presented in the previous part. If beginning is zero, enter in the column for
the normal balance for that account
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