Task 4 Agatha Feeling is the owner and manager of the Good Night B&B, which caters to family travellers. She has hired you to do her bookkeeping. The following transactions occurred in August: a. Cash of £1,000 was paid on August 15 for September's rent. b. b. Cash room sales of £9,400. C. c. Cash F&B sales of £5,600 d. d. Room sales on account, £250. e. e. Purchase of cleaning supplies for cash, £290. f. f. Purchase of office supplies on account from Bing's Office Supply, £150. g. g. New investment by owner of £1,000. h. h. Payment on account (Bing's), £50. i. i. Rental income from vending machines, £75. j. j. Payment of wages with cash, £5,700. k. k. Food & Beverage expense purchase on account from Market Food Supply £1500 Further, he has account balances for the beginning of August as follows: Cash £ 3120 £ 200 £ 30 £ 100 £ 50 £ 400 £ 3000 Accounts Receivable Cleaning Supplies Office Supplies Accounts Payable, Bing's Office Supply Hut Notes Payable Jack Wicks, Capital 1. Enter the transactions into the general journal, showing debits and credits, and an explanation for eac 2. Open T-accounts for each balance sheet account as well as for the revenue and expense accounts. Enter the beginning balances. 3. Post the August transactions to the T-accounts. Determine the ending balance for each account.
Task 4 Agatha Feeling is the owner and manager of the Good Night B&B, which caters to family travellers. She has hired you to do her bookkeeping. The following transactions occurred in August: a. Cash of £1,000 was paid on August 15 for September's rent. b. b. Cash room sales of £9,400. C. c. Cash F&B sales of £5,600 d. d. Room sales on account, £250. e. e. Purchase of cleaning supplies for cash, £290. f. f. Purchase of office supplies on account from Bing's Office Supply, £150. g. g. New investment by owner of £1,000. h. h. Payment on account (Bing's), £50. i. i. Rental income from vending machines, £75. j. j. Payment of wages with cash, £5,700. k. k. Food & Beverage expense purchase on account from Market Food Supply £1500 Further, he has account balances for the beginning of August as follows: Cash £ 3120 £ 200 £ 30 £ 100 £ 50 £ 400 £ 3000 Accounts Receivable Cleaning Supplies Office Supplies Accounts Payable, Bing's Office Supply Hut Notes Payable Jack Wicks, Capital 1. Enter the transactions into the general journal, showing debits and credits, and an explanation for eac 2. Open T-accounts for each balance sheet account as well as for the revenue and expense accounts. Enter the beginning balances. 3. Post the August transactions to the T-accounts. Determine the ending balance for each account.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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