Homework Help is Here – Start Your Trial Now!
Business
Accounting
The following transactions octurted for London Engineering July Owner contributed 55.000 in business Paid utiities expense of 5400 Purchased equlpment on account, 52.100 Performed service for a cient on account, $2,000 Borrowed $7,000 cash, signing a note pavable Sold for $29,000 land that had cost this same amount Purchased supplies for S800 and paid in cash Paid the liability from JulS Owner withdrew $2.000 form business 10 12 19 21 27 Use me folowing nccour Cesn Accounts Receivable Supplies Equipment Land Accounts payable Notes Pavable Owners Capital Owner Withdrewal Sevice Revenue utilities espense Journalice the above transactidn

The following transactions octurted for London Engineering July Owner contributed 55.000 in business Paid utiities expense of 5400 Purchased equlpment on account, 52.100 Performed service for a cient on account, $2,000 Borrowed $7,000 cash, signing a note pavable Sold for $29,000 land that had cost this same amount Purchased supplies for S800 and paid in cash Paid the liability from JulS Owner withdrew $2.000 form business 10 12 19 21 27 Use me folowing nccour Cesn Accounts Receivable Supplies Equipment Land Accounts payable Notes Pavable Owners Capital Owner Withdrewal Sevice Revenue utilities espense Journalice the above transactidn

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question
Date Accounts Debit Credit The following transactions octurted for London Engineering July an/2 ccou Receivable Owner contributed 55,000 in business Pala utiities expense of $400 Purchased equipment on account, 52.100 Pertormed service for a client on account, $2,000 Borrowed $7,000 cash, signing a note pavatble Sold for $29.000 land that had cosr this same amount Purchased supplies for 5800 and paid in cash Paid the linbility from Jul S Owner withdrew $2.000 form business Supplies 10 19 Koviemert 21 27 Land Use the following accoui Cesn Accounts Receivable Suppies Equipment Land Accounts poyable Notes Pavable Acents Pable Nots Payble Owners Capital Owners Capital Owrier Withdtewal Sevice Revenue Utilities nupente Service Revenue Journalice the above transactide Sheet1
Transcribed Image Text:Date Accounts Debit Credit The following transactions octurted for London Engineering July an/2 ccou Receivable Owner contributed 55,000 in business Pala utiities expense of $400 Purchased equipment on account, 52.100 Pertormed service for a client on account, $2,000 Borrowed $7,000 cash, signing a note pavatble Sold for $29.000 land that had cosr this same amount Purchased supplies for 5800 and paid in cash Paid the linbility from Jul S Owner withdrew $2.000 form business Supplies 10 19 Koviemert 21 27 Land Use the following accoui Cesn Accounts Receivable Suppies Equipment Land Accounts poyable Notes Pavable Acents Pable Nots Payble Owners Capital Owners Capital Owrier Withdtewal Sevice Revenue Utilities nupente Service Revenue Journalice the above transactide Sheet1
nsactions occurred for London Engineering: Date Accounts Debit Credit 7/1/21 Accounts Receivable Owner contributed $5,000 in business Paid utilities expense of $400 Purchased equipment on account, $2,100 Performed service for a client on account, $2,000 Borrowed $7,000 cash, signing a note payable Sold for $29,000 land that had cost this same amount. Purchased supplies for $800 and paid in cash 7/2/21 Supplies 10 12 19 7/5/21 Equipment 21 27 Paid the liability from Jul 5 31 Owner withdrew $2,000 form business. 7/10/21 Land ng accoui Cash Accounts Receivable 7/12/21 Accounts Payable Supplies Equipment Land 7/19/21 Notes Payable Accounts payable Notes Payable Owners Capital 7/21/21 Owners Capital Owner Withdrawal Service Revenue 7/27/21 Service Revenue Utilities expense above transaction. 7/31/21 Utilities Expense
Transcribed Image Text:nsactions occurred for London Engineering: Date Accounts Debit Credit 7/1/21 Accounts Receivable Owner contributed $5,000 in business Paid utilities expense of $400 Purchased equipment on account, $2,100 Performed service for a client on account, $2,000 Borrowed $7,000 cash, signing a note payable Sold for $29,000 land that had cost this same amount. Purchased supplies for $800 and paid in cash 7/2/21 Supplies 10 12 19 7/5/21 Equipment 21 27 Paid the liability from Jul 5 31 Owner withdrew $2,000 form business. 7/10/21 Land ng accoui Cash Accounts Receivable 7/12/21 Accounts Payable Supplies Equipment Land 7/19/21 Notes Payable Accounts payable Notes Payable Owners Capital 7/21/21 Owners Capital Owner Withdrawal Service Revenue 7/27/21 Service Revenue Utilities expense above transaction. 7/31/21 Utilities Expense
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Accounting for Notes
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS