Parrish 3-4 Pg. 61 Please prepare the transactions listed below in 1) the general journal entries and 2) transfer these to the proper general ledger account. Cash In Bank #120 Accounts Receivable #130 Repair Parts Inventory #135 Equipment #150 Accounts Payable #210 Rex Jones, Capital #310 Ronald Jones, Capital #320 Rex Jones, Drawing #330 Ronald Jones, Drawing #340 Lawn Mowing Revenue #420 Landscape Designe Revenue #430 Gasoline and Oil Expense #520 Transactions 1) 6/1 Rex Jones and his son Ronald start their partnership. Rex contributes $5000 cash and Ronald contributes $3000 cash. They open a partnership checking account at Community Bank 2) 6/2 The partnership buys $2000 in equipment at King Lawnmower Co. King gives the partnership 30 days' credit. The partnership assigns King Account #52 in the accounts payable subsidiary ledger 3) 6/3 The partnership buys $100 of repair parts and pays cash 4) 6/4 Rex meets with Jan Jackson and prepares a landscape plan. He gives the client an invoice for $200. The invoice is due in 30 days. The partnership assigns Jackson account #1 in the accounts receivable subsidiary ledger 5) 6/4 Ronald buys gasoline and oil for the lawnmowers pay $50 cash 6) 6/5 Ronald mows three lawns and receives $250 in cash from customers 7) 6/15 Rex withdraws $500 from the partnership. Ronald withdraws $400 from the partnership 8) 6/20 Ronald mows four lanws and receives $325 cash from customers 9) 6/25 Rex meets with Rob Hudson and prepares landscape plan. He gives the client an invoice for $250. The invoice is due in 30 days. The partnership assigns Hudson account #2 in the accounts receivable subsidiary ledger 10) 6/29 Jan Jackson sends check for $200 in payment of her June 4 invoice
Parrish 3-4 Pg. 61
Please prepare the transactions listed below in 1) the general
Cash In Bank #120
Repair Parts Inventory #135
Equipment #150
Accounts Payable #210
Rex Jones, Capital #310
Ronald Jones, Capital #320
Rex Jones, Drawing #330
Ronald Jones, Drawing #340
Lawn Mowing Revenue #420
Landscape Designe Revenue #430
Gasoline and Oil Expense #520
Transactions
1) 6/1 Rex Jones and his son Ronald start their
2) 6/2 The partnership buys $2000 in equipment at King Lawnmower Co. King gives the partnership 30 days' credit. The partnership assigns King Account #52 in the accounts payable subsidiary ledger
3) 6/3 The partnership buys $100 of repair parts and pays cash
4) 6/4 Rex meets with Jan Jackson and prepares a landscape plan. He gives the client an invoice for $200. The invoice is due in 30 days. The partnership assigns Jackson account #1 in the accounts receivable subsidiary ledger
5) 6/4 Ronald buys gasoline and oil for the lawnmowers pay $50 cash
6) 6/5 Ronald mows three lawns and receives $250 in cash from customers
7) 6/15 Rex withdraws $500 from the partnership. Ronald withdraws $400 from the partnership
8) 6/20 Ronald mows four lanws and receives $325 cash from customers
9) 6/25 Rex meets with Rob Hudson and prepares landscape plan. He gives the client an invoice for $250. The invoice is due in 30 days. The partnership assigns Hudson account #2 in the accounts receivable subsidiary ledger
10) 6/29 Jan Jackson sends check for $200 in payment of her June 4 invoice
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