Your activity: Posting to the ledger The following journal entries were found in the books of Lagumang Pagsusulit Photocopying Services in the month of January 2019: January 2019 1 Cash on Hand Php 30,000.00 Machines 450,000.00 Building Granfon, Capital 500,000.00 Php 980,000.00 Permits and Licenses Cash on Hand 3 7,500.00 7,500.00 4 Cash on hand 5,500.00 Service Revenue 5,500.00

Your activity: Posting to the ledger The following journal entries were found in the books of Lagumang Pagsusulit Photocopying Services in the month of January 2019: January 2019 1 Cash on Hand Php 30,000.00 Machines 450,000.00 Building Granfon, Capital 500,000.00 Php 980,000.00 Permits and Licenses Cash on Hand 3 7,500.00 7,500.00 4 Cash on hand 5,500.00 Service Revenue 5,500.00

Name: Repairs and MaintenanceCash on Hand191,000.001,000.0022Cash on Hand7,
Uploaded: 2024-03-04T10:43:15.000Z
Channel: Bartleby
Description: Repairs and MaintenanceCash on Hand191,000.001,000.0022Cash on Hand7,000.00Service Revenue7,000.0024Supplies ExpenseSupplies3,000.003,000.0027Cash on Hand6,500.00Service Revenue6,500.0030Granfon, Drawing5,000.00Cash on Hand5,000.00 Your activity: Po

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: Need your help please. Thank you

A: Since in part b and part c, requirement is not displaying, I am answering for part a only.

Q: The General Journal Chart of accounts unt Account Name Date Accounts Dr Cr 101 Cash 102 Accounts…

Q: Perform the following accounting tasks for the receivables of Freeman and Jones, a law firm, at…

A: Ledger: It implies to the posting of the journal entries to the principal accounting book in a…

Q: se Worksheet 2.1. Sadie Richardson’s banker has asked her to submit a personal balance sheet as of…

A: BS termed as Balance Sheet which is one of the vital financial statement among the cash flow…

Q: Journalize the transactions for July 2020 in a two-column journal (general journal) page1. Just…

A: Journal Entry:- These are prepared by the companies with debit and credit sides in order to match…

Q: The ledgers of Gerry's Photo Mart showed the following balances October 31, 2020: General Ledger:…

A: Trial Balance - After transferring all the transactions into Ledgers Company closes the accounts and…

Q: Questions to answer: 1. Is Manny behaving ethically by reporting the loan to Tom as a trade account…

A: The ethic in business is a very important concept which must be followed by each and every…

Q: Knowledge Check Tri Golf Course purchased a golf cart at a cash price of $14,000. Related cash…

A: Cost of an asset is the amount paid for an asset and for expenses incurred in putting the asset in…

Q: 1. Prepare the journal entries for the following transactions of Sun and Moon Resort for the month…

A: 1. Journal Entries - Journal Entries are the records of the transactions entered into by the…

Q: ege Problem 8-03A a-b (Part Level Submission) (Video) Waterway Comany maintains a petty cash fund…

A: Petty Cash Book record all the small amount of huge transactions.

Q: Activity 1-4 Journalizing Transactions The transactions for March 2021 of Lightning Package Delivery…

A: Journal entries (JE) refer to reposting of the transactions into the entity or company books of…

Q: CHECK FIGURES: Jan 10, 2021 Cash $15,060 80. Mar 29, 2021 Cash - $4.507.09 Required Prepare…

A: Journal entries in accounting are the primary means by which financial transactions are recorded in…

Q: ACTIVITY I. Below are transactions of Lea Beauty Salon for the month of July 2020. 2020 5 Lea…

Q: Required information On January 1, 2021, the general ledger of Dynamite Fireworks includes the…

A: Closing Entry: Closing entries are passed at the end of accounting period to close the balances of…

Q: 1. Study carefully the balances of the different accounts of Malabo Photocopying Center on December…

A: Trial balance: The trial balance is a list of all the ledger accounts with their closing balances…

Q: Tony and Suzie are ready to expand Great Adventures even further in 2025. Tony believes that many…

A: The foundational elements of the double-entry bookkeeping system in accounting are journal entries.…

Q: LESSON 8: REVIEW OF JOURNAL ENTRIES, T-ACCOUN LEDGER, AND TRIAL BALANCE ACTIVITY I. Below are…

A: Trial balance is the worksheet in which all ledger balance are compiled and the debit balance equals…

Q: Billy Bob's Barber Shop Project Transactions for January 2020 Use the following transactions to…

A: This is a comprehensive question in which journal entries have been asked for the transactions…

Q: Using the following information, prepare the journal entries to: a. Establish a $200 petty cash…

A: a.

Q: Can you show me what the general ledgers would look like. I have them done just want to double check…

A: Required ledger accounts are shown below

Q: 9. Enter the following transaction in a Petty Cash Book (attached), with analysis columns: postag…

A: A petty cash book is maintained to record small expenses incurred for running the office. These…

Concept explainers

Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is

Topic Video

Question

Repairs and Maintenance
Cash on Hand
19
1,000.00
1,000.00
22
Cash on Hand
7,000.00
Service Revenue
7,000.00
24
Supplies Expense
Supplies
3,000.00
3,000.00
27
Cash on Hand
6,500.00
Service Revenue
6,500.00
30
Granfon, Drawing
5,000.00
Cash on Hand
5,000.00

Your activity: Posting to the ledger
The following journal entries were found in the books of Lagumang Pagsusulit
Photocopying Services in the month of January 2019:
January 2019
Cash on Hand
Php
30,000.00
Machines
450,000.00
Building
Granfon, Capital
500,000.00
Php 980,000.00
3
Permits and Licenses
7,500.00
Cash on Hand
7,500.00
4
Cash on hand
5,500.00
Service Revenue
5,500.00
5
Cash on Hand
4,650.00
2,300.00
Accounts Receivable
Service Revenue
6,950.00
6
12,000.00
Prepaid Insurance
Cash on hand
12,000.00
9
Supplies
10,000.00
Accounts Payable
10,000.00
13
Cash on Hand
15,500.00
Service Revenue
15,500.00
15
Accounts Receivable
8,000.00
Service Revenue
8,000.00
Salaries Expense
Cash on Hand
16
3,000.00
3,000.00

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1 Introduction

VIEW

Step 2 Solution

VIEW

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

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

Forward solutions has the following balances as at September 30 2019
Recreational Active Club was established in 2021 to handle recreational activities for Taiping residents. The following information is related to the club: 1 Jan 2022 31 December 2022 1 Jan 31 Dec hbo Additional information: Chapter 1 Balance b/d Entrance fees Members fees: 2021 2022 2023 Contest fees Required: Prepare, Stationeries Accrual (RM) O 3,696 3,780 O Recreational Active Club Receipts and Payments Account for the year ended 31 December 2022 7,595 Stationeries 3,894 Salaries 462 Sport equipment Utilities Accrued Member Fees (RM) 16,860 663 4,686 34,160 462 546 On 1 January 2022, the club owned the following assets: Sports equipment RM9,000 Furniture RM2,970 O Office Equipment RM6,148 . Sports equipment in 1 January 2022 will be depreciated 10% per year. Utilities Payable (RM) 561 528 Rent Balance c/d 4,719 6,072 3,800 4,587 6,930 8,052 34,160 a. Income and expenditure account for the year ended 31 December 2022. b. Statement of financial position as at 31 December 2022. 17…
answer in text with all work
Hespeler services financial accounting information for the year ending October 2019 is presented below , assume all accounts have a normal balance
A Pre-Closing Trial Balance for Shady Lane Senior Living Center is listed below. From the list of accounts provided, prepare an activity statement. In this instance, there are no assets released from restrictions. Download the excel file provided. Prepare the activity statement, save it on your computer, and upload your response in the drop box below. Cash $121,000 Pledges Receivable 50,240 Interest Income Receivable 500 Inventory 1,000 Investments – long term 492,600 Land 42,000 Building 162,800 Vintage Car Collection 60,000 Allowance for Uncollectible Pledges 1,000 Accumulated Depreciation 22,600 Accounts Payable 600 Notes Payable 1,000 Deferred Revenue 400 Long Term Loans Payable 100,000 Mortgage Payable 14,000 Net Assets: UR Undesignated 100,000 Net Assets: UR Designated 60,000 Net Assets: TR 100,000 Net Assets: PR 200,000 Program Expenses 42,300 SS: Mgt & Genl Exp 9,600 SS: Fundraising Exp 3,600 Reclassifications OUT-TR 44,200 Loss on Disposal of equipment 600 Revenue:…
REQUIRED: • JOURNAL ENTRIES • T-Accounts Note: PLEASE NO TO HANDWRITTEN. Make it TYPEWRITTEN thank you!
hi how do we record this in MYOB. Please help me Transactions from early January 2021 2 Obtained a loan of $14,000 from Uncle Oliver (a family relative of Beatrice Reed) at a simple interest rate of 10% per year, Cheque No. 145, ID #CR000001. The principal and interest on the loan are payable in six months time. 3 Received Cheque No. 227 from Pikea for the full amount outstanding on their account, ID #CR000002. 4 Issued Cheque No. 4098 for $10,065 to Mega Tech in payment of Purchase #303 (Supplier Inv#230). 4 Purchased 9 units MePod multimedia players from Pony at $979 each (includes 10% GST), Purchase #306, Supplier Inv#328. Issued Cheque No. 4099 for $3,900 to this supplier for this particular invoice at the time of the purchase. 4 Issued Cheque No. 4100 for $1,320 (includes 10% GST) to Discount Office Supplies for the cash purchase of office supplies. 6 Sold the following items on credit to Jerry Technology, Invoice #3284: 3 units BG90 plasma televisions for…
*Required: Record the transactions using a general journal. Create your own account titles that will appropriately describe the exchanges of values. Post in T-accounts and compute the total assets, liabilities, and equity.
Requirements 1. Journalize the transactions in the Johnson Pharmacies general journal. Round to the nearest dollar. Explanations required. 2. Prepare the liabilities section of the balance sheet for Johnson Pharmacies on March 1, 2019 after all the journal entries are recorded.