Zenith Consulting Co. has the following accounts in its ledger: Cash: Accounts R

Question

Zenith Consulting Co. has the following accounts in its ledger: Cash: Accounts Recelvable: Supplies; Office Equipment; Accounts Payable; Common Stock Retained Earnings; Dividends; Fees Earned; Rent Expense; Advertising Expense; Utilities Expense; Miscellaneous Expense. 1 3 Paid advertising expense, $700. 5 Pald cash for supplies, $1,250 6 Purchased office equipment on account, $9,600. 10 Recelved cash from customers on account, $17,000 15 Paid creditor on account, $3,050. 27 Paid cash for miscellaneous expenses, $560. 30 Paid telephone bill for the month, $300. 31 Fees earned and billed to customers for the month, $51,470 31 Pald electricity bill for the month, $810 31 Paid dividends, $1,750. Mar. Pald rent for the month, $2,300.

Explanation / Answer

General Journal Accounting Equation Date Account Tittle & Explanation Debit Credt Asset Liability Equities Mar-01 Rent expenses $2,300 -$2,300 -$2,300 Cash $2,300 (To record Rent paid Mar-03 Advertising expenses $700 -$700 -$700 Cash $700 (To record advertisement expense paid Mar-05 Supplies $1,250 $1,250 Cash $1,250 -$1,250 (To record payment for supplies) Mar-06 Office equipment $9,600 $9,600 $9,600 Accounts payable $9,600 (To record purchase office equipmen) Mar-10 Cash $17,000 $17,000 Accounts receivable $17,000 -$17,000 (To record cash receipt from customers) Mar-15 Accounts payable $3,050 -$3,050 -$3,050 Cash $3,050 (To record payment to creditors on account) Mar-27 Misc. expenses $560 -$560 -$560 Cash $560 (To record Misc Expense Paid Mar-30 Utilities expenses $300 -$300 -$300 Cash $300 (To record telephone expenses paid ) Mar-31 Accounts receivable $51,470 $51,470 $51,470 Fees earned $51,470 (To record fee earned and billed to customer for the month) Mar-31 Utilities expenses $810 -$810 -$810 Cash $810 (To record paymentElectricity bill paid Mar-31 Dividends $1,750 -$1,750 -$1,750 Cash $1,750 (To record dividend paid $51,600 $6,550 $45,050

Related Questions

Navigate

• Browse (All)
• Browse Z
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.