Principles of Accounting
12th Edition
ISBN: 9781133626985
Author: Belverd E. Needles, Marian Powers, Susan V. Crosson
Publisher: Cengage Learning
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Chapter 2, Problem 7SE
To determine
Prepare a
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Additional Activities
Directions: Do the task listed bélow using the transacions of Matapang Company
for Deccmber 2019. Writc your answers on a separate sheet of paper.
1. Prepare the journal entries.
2. Post each transaction to its ledger account.
3. Prepare the trial balance.
4. Use the provided account numbers.
Ralph Matapang cstablishcd Happy Repair Busincss. The following are the
transactions for the montb of Decembocr 2019.
Dec.
He invested P150,000 in the firm.
He paid P8,000 for monthly rent.
He bought supplies on account amounting to P7,200.
He purchascd office equipment amounting to P75,000. paid
P37,000 and the balance on account.
2.
2.
3.
He paid accounts payable for supplies purchased worth P7,200.
He paid P6,000 for the salary of an employec.
He received P20,000 for services rendered.
He billed clients P48,000 for services on account.
8.
14.
20.
28.
31.
Matapang withdrew P12,000 for his personal use.
302 Matapang, Drawings
401 Service Revenue
101 Cash
102 Accounts…
Post these transactions from each General Journal into the General Ledger accounts.
When posting transactions to the general ledger, use the transaction letters a, b, c, d, or e as the description for each entry. Also, the dates must be entered in the format dd/mmm (ie, 15/Jan).
)
Prepare the journal entry on February 5, 2025, for Cullumber when the wiring base is delivered to the customer. (Credit account
titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the
account titles and enter O for the amounts. List all debit entries before credit entries.)
Date
Feb. 5, 2025
Feb. 5, 2025
Account Titles and Explanation
(To record sales)
(To record cost of goods sold)
Debit
Credit
Chapter 2 Solutions
Principles of Accounting
Ch. 2 - A company incurs a cost for a part that is needed...Ch. 2 - Prob. 2DQCh. 2 - Prob. 3DQCh. 2 - Prob. 4DQCh. 2 - How are assets and expenses related, and why are...Ch. 2 - Prob. 6DQCh. 2 - Prob. 7DQCh. 2 - Prob. 8DQCh. 2 - Tell whether each of the following accounts is an...Ch. 2 - Prob. 2SE
Ch. 2 - Prob. 3SECh. 2 - Prob. 4SECh. 2 - Prob. 5SECh. 2 - Prob. 6SECh. 2 - Prob. 7SECh. 2 - Prepare a general journal form like the one in...Ch. 2 - Prepare three ledger account forms like the one in...Ch. 2 - Prob. 10SECh. 2 - Prob. 11SECh. 2 - Prob. 12SECh. 2 - Which of the following events would be recognized...Ch. 2 - You are given the following list of accounts with...Ch. 2 - The following ledger accounts are for Afocentric...Ch. 2 - Prob. 4EACh. 2 - The accounts that follow are applicable to Harolds...Ch. 2 - Prob. 6EACh. 2 - Prob. 7EACh. 2 - Prob. 8EACh. 2 - After recording the transactions in E6A, prepare a...Ch. 2 - The list that follows presents Shah Companys...Ch. 2 - Which of the following errors would cause a trial...Ch. 2 - Prob. 12EACh. 2 - Record the transactions in E6A in the general...Ch. 2 - Prob. 14EACh. 2 - Prob. 15EACh. 2 - Prob. 16EACh. 2 - Highland Design Company creates radio and...Ch. 2 - The following accounts are applicable to Georges...Ch. 2 - Jennifer Lopez opened a school for administrative...Ch. 2 - Sid Patel bid for and won a concession to rent...Ch. 2 - Nordtown Company is a marketing firm. The companys...Ch. 2 - Prob. 6APCh. 2 - The following accounts are applicable to Raymonds...Ch. 2 - Prob. 8APCh. 2 - David Roberts began an upholstery cleaning...Ch. 2 - Prob. 10APCh. 2 - Prob. 1CCh. 2 - Prob. 2CCh. 2 - Prob. 3CCh. 2 - Prob. 4CCh. 2 - Prob. 5CCh. 2 - Prob. 6CCh. 2 - Prob. 7C
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