Use the journal to plug into the needed information.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Topic Video
Question

Use the journal to plug into the needed information. 

1-Feb Inventory
Cash
4-Feb Supplies
Accounts payable
4-Feb Utilities payable
Cash
6-Feb Accounts payable
cash
12-Feb Salaries payable
Salaries expense
Cash
8-Feb Cash
Sales revenue
8-Feb Cost of goods sold
Inventory
10-Feb Inventory
Cash
14-Feb Cash
15-Feb Cash
1350
24-Feb Cash
4500
Accounts receivable
Service revenue
5900
26-Feb Inventory
Unearned service revenue
1230
Sales revenue
24-Feb Cost of goods sold
Inventory
26-Feb Salaries expenses
Cash
600
600
500
Accounts payable
300
300
330
1000
1200
550
550
1200
360
330
200
1350
450
450
500
6400
1230
436
436
1200
500
360
4500
27-Feb Cash
Sales revenue
27-Feb Cost of goods sold
Inventory
28-Feb Cash
580
28-Feb Cash
Accounts receivable
Service revenue
5560
960
Accounts receivable
28-Feb Salary expenses
Dividend
Cash
Adjustments
28-Feb Depreciation expenses
3800
600
4400
28-Feb Salary expenses
Salary payables
28-Feb Supplies expenses
Supplies payable
28-Feb Utilities expenses
Utilities payable
28-Feb Cost of goods sold
Inventory
28-Feb Rent expenses
Prepaid rent
28-Feb Insurance expenses
Prepaid insurance
28-Feb Service revenue
Service revenue
1950
580
336
336
Accumulated depreciation expenses
200
200
1132
630
660
6220
45
386
386
206
206
1950
250
630
960
1132
250
45
Transcribed Image Text:1-Feb Inventory Cash 4-Feb Supplies Accounts payable 4-Feb Utilities payable Cash 6-Feb Accounts payable cash 12-Feb Salaries payable Salaries expense Cash 8-Feb Cash Sales revenue 8-Feb Cost of goods sold Inventory 10-Feb Inventory Cash 14-Feb Cash 15-Feb Cash 1350 24-Feb Cash 4500 Accounts receivable Service revenue 5900 26-Feb Inventory Unearned service revenue 1230 Sales revenue 24-Feb Cost of goods sold Inventory 26-Feb Salaries expenses Cash 600 600 500 Accounts payable 300 300 330 1000 1200 550 550 1200 360 330 200 1350 450 450 500 6400 1230 436 436 1200 500 360 4500 27-Feb Cash Sales revenue 27-Feb Cost of goods sold Inventory 28-Feb Cash 580 28-Feb Cash Accounts receivable Service revenue 5560 960 Accounts receivable 28-Feb Salary expenses Dividend Cash Adjustments 28-Feb Depreciation expenses 3800 600 4400 28-Feb Salary expenses Salary payables 28-Feb Supplies expenses Supplies payable 28-Feb Utilities expenses Utilities payable 28-Feb Cost of goods sold Inventory 28-Feb Rent expenses Prepaid rent 28-Feb Insurance expenses Prepaid insurance 28-Feb Service revenue Service revenue 1950 580 336 336 Accumulated depreciation expenses 200 200 1132 630 660 6220 45 386 386 206 206 1950 250 630 960 1132 250 45
4
5
6
Cash
7 Accounts Receivable
8 Inventory
9 Supplies
10 Prepaid Rent
11 Prepaid Insurance
12 Barber Chair #1
13 Accum Depr - Barber Chair #1
14 Barber Chair #2
15 Accum Depr - Barber Chair #2
16 Accounts Payable
17 Salaries Payable
18 Unearned Fees
19 Utilities Payable
20 Capital Stock
21 Retained Earnings
22 Dividends
23 Fees Earned
24 Gain (or Loss) on Sale
25 Sales
26 Cost of Merchandise Sold
27 Salaries Expense
28 Rent Expense
Account
29 Supplies Expense
30 Depreciation Expense
31 Insurance Expense
32 Utilities Expense
33 Advertising Expense
34 Legal Expense
35 Miscellaneous Expense
36
37
38
39
40
Dr
Trial Balance
Cr
Dr
Adjustments
Cr
Adjusted Trial Balance
Dr
Cr
Income Statement
Dr
Cr
Dr
Balance Sheet
Cr
Transcribed Image Text:4 5 6 Cash 7 Accounts Receivable 8 Inventory 9 Supplies 10 Prepaid Rent 11 Prepaid Insurance 12 Barber Chair #1 13 Accum Depr - Barber Chair #1 14 Barber Chair #2 15 Accum Depr - Barber Chair #2 16 Accounts Payable 17 Salaries Payable 18 Unearned Fees 19 Utilities Payable 20 Capital Stock 21 Retained Earnings 22 Dividends 23 Fees Earned 24 Gain (or Loss) on Sale 25 Sales 26 Cost of Merchandise Sold 27 Salaries Expense 28 Rent Expense Account 29 Supplies Expense 30 Depreciation Expense 31 Insurance Expense 32 Utilities Expense 33 Advertising Expense 34 Legal Expense 35 Miscellaneous Expense 36 37 38 39 40 Dr Trial Balance Cr Dr Adjustments Cr Adjusted Trial Balance Dr Cr Income Statement Dr Cr Dr Balance Sheet Cr
Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Accounting Equation
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.
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