ools Weygandt, Financial Accounting, 10e December 31, 2018 Debit Credit Cash Acc
ID: 2607481 • Letter: O
Question
ools Weygandt, Financial Accounting, 10e December 31, 2018 Debit Credit Cash Accounts Receivable Supplies Prepaid Rent Equipment Accounts Payable Common Stock Retained Earnings $9,000 15,100 12,700 2,800 19,300 $16,500 31,000 11.400 $58,900 $58,900 Summarized transactions for January 2019 were as follows. 1. Advertising costs, paid in cash, $1,120. 2. Additional supplies acquired on account $4,150. 3. Miscellaneous expenses, paid in cash, $2,020. 4. Cash collected from customers in payment of accounts receivable $12,340. 5. Cash paid to creditors for accounts payable due $12,840. 6. Repair services performed during January: for cash $6,850; on account $8,540. 7. Wages for January, paid in cash, $2,410. 8. Dividends during January were $2,550.Explanation / Answer
Trial Balance
Explanation
debit
credit
cash
advertising expense
1120
balance
9000
advertising expense
1120
Misc. expenses
2020
accounts receivables
12340
Misc.expenses
2020
service revenue
15390
service revenue
6850
accounts payable
12840
salaries and wages expenses
2410
salaries expense
2410
dividend
2550
dividend
2550
cash
7250
7250
accounts receivable
11300
28190
28190
supplies
16850
prepaid rent
2800
accounts receivables
equipment
19300
balance
15100
cash
12340
accounts payable
7810
service revenue
8540
balance
11300
common stock
31000
retained earning
11400
total
23640
23640
total
65600
65600
accounts payable
cash
12840
balance
16500
balance
7810
supplies
4150
total
20650
total
20650
supplies
balance
12700
balance
16850
accounts payable
4150
total
16850
total
16850
Trial Balance
Explanation
debit
credit
cash
advertising expense
1120
balance
9000
advertising expense
1120
Misc. expenses
2020
accounts receivables
12340
Misc.expenses
2020
service revenue
15390
service revenue
6850
accounts payable
12840
salaries and wages expenses
2410
salaries expense
2410
dividend
2550
dividend
2550
cash
7250
7250
accounts receivable
11300
28190
28190
supplies
16850
prepaid rent
2800
accounts receivables
equipment
19300
balance
15100
cash
12340
accounts payable
7810
service revenue
8540
balance
11300
common stock
31000
retained earning
11400
total
23640
23640
total
65600
65600
accounts payable
cash
12840
balance
16500
balance
7810
supplies
4150
total
20650
total
20650
supplies
balance
12700
balance
16850
accounts payable
4150
total
16850
total
16850
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