PR 2-3-1 - Journalize/Post/Trial Balance - Goldwin Financial Consulting Below is the chart of accounts for Goldwin Financial Consulting with the account balances for March 10 of the current year. 117,000 14,000 101 Cash 301 Common Stock 100,000 110 Accounts Receivable 320 Dividends -0- 21,000 1,500 120 Prepaid Insurance -0- 401 Fees Earned 130 Office Supplies 610 Advertising Expense 630 Salaries Expense 1,000 160 Land -0- 3,500 201 Accounts Payable 16,000 Instructions: 1. Journalize the transactions for March in a two-column journal beginning on Page 3. Journal entry explanations may be omitted. 2. In the General Ledger, open the T-accounts with the account name, number, and balance. (See GL tab below) 3. Post the journal entries to T-accounts, inserting appropriate posting references in the General Journal as each item is posted. After all transactions are posted, determine the account balances.

PR 2-3-1 - Journalize/Post/Trial Balance - Goldwin Financial Consulting Below is the chart of accounts for Goldwin Financial Consulting with the account balances for March 10 of the current year. 117,000 14,000 101 Cash 301 Common Stock 100,000 110 Accounts Receivable 320 Dividends -0- 21,000 1,500 120 Prepaid Insurance -0- 401 Fees Earned 130 Office Supplies 610 Advertising Expense 630 Salaries Expense 1,000 160 Land -0- 3,500 201 Accounts Payable 16,000 Instructions: 1. Journalize the transactions for March in a two-column journal beginning on Page 3. Journal entry explanations may be omitted. 2. In the General Ledger, open the T-accounts with the account name, number, and balance. (See GL tab below) 3. Post the journal entries to T-accounts, inserting appropriate posting references in the General Journal as each item is posted. After all transactions are posted, determine the account balances.

Name: PR 2-3-1 - Journalize/Post/Trial Balance - Goldwin Financial Consulti
Uploaded: 2024-03-04T10:43:15.000Z
Channel: Bartleby
Description: PR 2-3-1 - Journalize/Post/Trial Balance - Goldwin Financial ConsultingBelow is the chart of accounts for Goldwin Financial Consulting with the account balances for March 10 of the current year.117,00014,000101 Cash301 Common Stock100,000110 Account

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Question Required information Skip to question [The following information applies to the questions displayed below.] The general ledger of Jackrabbit Rentals at January 1, 2021, includes the following account balances: Accounts Debits Credits Cash $ 47,500 Accounts Receivable 31,700 Land 116,800 Accounts Payable 15,900 Notes Payable (due in 2 years) 36,000 Common Stock 106,000 Retained Earnings 38,100 Totals $ 196,000 $ 196,000 The following is a summary of the transactions for the year: 1. January 12 Provide services to customers on account, $68,400. 2. February 25 Provide services to customers for cash, $78,300. 3. March 19 Collect on accounts receivable, $46,300. 4. April 30 Issue shares of common stock in exchange for $36,000 cash. 5. June 16 Purchase supplies on account, $13,300. 6. July 7 Pay on…
Consider the following account balances of Evan McGruder, Incorporated, as of December 31, Year 3: Accounts Payable $ 113,420 Retained Earnings $ 56,000 Equipment 422,900 Notes Payable, due Year 5 344,500 Common Stock 206,500 Accounts Receivable 203,800 Income Tax Payable 4,030 Cash 97,750 Required:Prepare a classified balance sheet at December 31, Year 3.
oking.com ework 8 McAfee Security ... LastPass password... Cash Accounts receivable Supplies Equipment Accounts payable Common stock Required information [The following information applies to the questions displayed below.] As of December 31 of the current year, Armani Company's records show the following. Rental revenue Salaries expense Retained earnings, December 31, prior year Retained earnings, December 31, current year Dividends Consulting revenue Rent expense Selling and administrative expenses Revenues Amazon.com - Onli... ... LastPass Common stock ARMANI COMPANY Income Statement For Current Year Ended December 31 Saved $ 15,000 Help
Please do not give solution in image format thanku
Date Mar 01 Cash Office equipment Common stock Mar 02 Prepaid rent Cash General Journal Debit Credit 150,000 22,000 Mar 19 Prepaid insurance 5,000 172,000 Cash 5,000 6,000 Mar 22 Cash 3,500 6,000 Accounts receivable 3,500 Mar 03 Office equipment 3,000 Mar 25 Accounts receivable 3,820 Office supplies 1,200 Services revenue 3,820 Accounts payable 4,200 Mar 29 Dividends 5,100 Mar 06 Cash 4,000 Cash 5,100 Services revenue 4,000 Mar 30 Office supplies 600 Mar 09 Accounts receivable 7,500 Accounts payable 600 Services revenue 7,500 Mar 31 Utilities expense 500 500 Mar 12 Accounts payable Cash 4,200 4,200 Cash 500 Please post the account to the ledger account (T-account)
Explain how knowledge of managerial accounting can assist a manager with regard to the following concerns: He is deciding whether to push through with a project. He is determining whether a branch is profitable or not. He is deciding whether to process a certain product further before selling. He would like to show to the Board of Directors how the business is financially performing and how cash is being used. He would like to plan for the year so that he will be prepared to deal with shortage of cash fund.
Courses =HCS380 Week 1 Terminology Matching Accounts Receivable Terminology Matching Note Payable Bonds Payable Common Stock Income Statement Balance Sheet Retained Earnings Statement Statement of Cash Flow Basic Accounting Equation multimedia.phoenix.edu Annual Report View Assessment HCS/380: Week 1 - Terminology Matching - Academic Resources Owed to a bank for the money borrowed Bill customer/patient for services HCS Debt securities sold to investors that must be repaid at a particular date in the future A AOL PASSV REQUIRED Enter your password for "kaylakı Accounts. Prepared by corporate management to present financial information, management discussion, notes, and auditor's report Used by creditors to determine if they will be paid Assets Liabilities+Stockholder's Equity Used by creditors and investors to analyze the organization's cash position Used by investors to evaluate the organization's history of paying high dividends The total amount paid in by stockholders for the share…
ss.
CHART OF ACCOUNTS Norwegian Medical Co. General Ledger C. e. 110 Cash f. 111 Petty Cash 1. ASSETS 120 Accounts Receivable 131 Notes Receivable 141 Merchandise Inventory 145 Office Supplies 146 Store Supplies 151 Prepaid Insurance 181 Land 191 Office Equipment 192 Accumulated Depreciation-Office Equipment 193 Store Equipment 194 Accumulated Depreciation-Store Equipment LIABILITIES 211 Accounts Payable-Universal Supply Co. 221 Notes Payable 222 Interest Payable 231 Salaries Payable 241 Sales Tax Payable EQUITY Owner, Capital 311 Owner, Drawing REVENUE 410 Sales 610 Interest Revenue 510 The cash account for Norwegian Medical Co. at April 30 indicated a balance of $93,115. The bank statement indicated a balance of $125,800 on April 30. Comparing the bank statement and the accompanying canceled checks and memos with the records revealed the following reconciling items: a. Checks outstanding totaled $30,060. Cost of Merchandise Sold 515 Credit Card Expense 516 Cash Short and Over 520…
Journalize the entries for the following transactions: a. Sold merchandise for cash, 25400. The cost of the merchandise was 15240. (Record the sale first.) b. Sold merchandise on account, 10610. The cost of merchandise sold was 6370. (Record the sale first.) c. Sold merchandise to customers who used MasterCard and Visa, $117,060. The cost of the merchandise sold was $70,240. (Record the sale first.) d. Sold merchandise to customers who used American Express, $40,890. The cost of the merchandise sold was $24,530. (Record the sale first.) e. Paid $7,870 to National Clearing House Credit Co. for service fees for processing Mastercard, Visa, and American Express sales.