Wildhorse, Inc. had the following transactions during the first month of business as a proprietorship. Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem.) Mar. 1   Invested $25,000 cash.   3   Purchased $7,800 of equipment for the business with cash.   6   Purchased supplies on account for $420 (Debit asset account).   15   Paid March rent of $2,300.   28   Performed engineering services for clients, for which $2,300 was collected in cash and $6,200 was billed to the clients.

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Wildhorse, Inc. had the following transactions during the first month of business as a proprietorship. Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem.)

Mar. 1   Invested $25,000 cash.
  3   Purchased $7,800 of equipment for the business with cash.
  6   Purchased supplies on account for $420 (Debit asset account).
  15   Paid March rent of $2,300.
  28   Performed engineering services for clients, for which $2,300 was collected in cash and $6,200 was billed to the clients.

 

Date
Account Titles and Explanation
Debit
Credit
choose a transaction date                                                           Mar. 1Mar. 3Mar. 6Mar. 15Mar. 28
enter an account title
enter a debit amount
enter a credit amount
 
enter an account title
enter a debit amount
enter a credit amount
choose a transaction date                                                           Mar. 1Mar. 3Mar. 6Mar. 15Mar. 28
enter an account title
enter a debit amount
enter a credit amount
 
enter an account title
enter a debit amount
enter a credit amount
choose a transaction date                                                           Mar. 1Mar. 3Mar. 6Mar. 15Mar. 28
enter an account title
enter a debit amount
enter a credit amount
 
enter an account title
enter a debit amount
enter a credit amount
choose a transaction date                                                           Mar. 1Mar. 3Mar. 6Mar. 15Mar. 28
enter an account title
enter a debit amount
enter a credit amount
 
enter an account title
enter a debit amount
enter a credit amount
Mar 28.
enter an account title for the journal entry on March 28

List of Accounts

Assistance Used

 
 
  • Accounts Payable
  • Accounts Receivable
  • Accumulated Depreciation-Buildings
  • Accumulated Depreciation-Equipment
  • Administrative Expenses
  • Admissions Revenue
  • Advertising Expense
  • Allowance for Doubtful Accounts
  • Bad Debt Expense
  • Buildings
  • Cash
  • Common Stock
  • Cost of Goods Sold
  • Current Maturity of Long-Term Debt
  • Delivery Expense
  • Depreciation Expense
  • Dividends
  • Dues Revenue
  • Equipment
  • Green Fees Revenue
  • Income Summary
  • Income Tax Expense
  • Insurance Expense
  • Interest Expense
  • Interest Payable
  • Interest Receivable
  • Interest Revenue
  • Inventory
  • Land
  • Maintenance and Repairs Expense
  • Mortgage Payable
  • No Entry
  • Notes Payable
  • Notes Receivable
  • Office Expense
  • Owner's Capital
  • Owner's Drawings
  • Prepaid Advertising
  • Prepaid Insurance
  • Prepaid Rent
  • Property Tax Expense
  • Property Tax Payable
  • Rent Expense
  • Rent Receivable
  • Rent Revenue
  • Retained Earnings
  • Salaries and Wages Expense
  • Salaries and Wages Expense-Administrative
  • Salaries and Wages Expense-Sales
  • Salaries and Wages Payable
  • Sales
  • Sales Discounts
  • Sales Returns and Allowances
  • Sales Revenue
  • Selling Expenses
    • Service Revenue
    • Subscription Revenue
    • Supplies
    • Supplies Expense
    • Telephone and Internet Expense
    • Utilities Expenses
    • Unearned Admissions Revenue
    • Unearned Dues Revenue
    • Unearned Service Revenue
    • Unearned Rent Revenue
    • Unearned Subscriptions Revenue
     
     
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