Record each transaction in the journal. Be sure to record the date in each entry
ID: 2609812 • Letter: R
Question
Record each transaction in the journal. Be sure to record the date in each entry. Explanations are not required.
2.
Post the transactions to the T-accounts, using transaction dates as posting references. Label the ending balance of each account Bal.
3.
Wortham ServicesWortham Services,
OctoberOctober
4.
MarkMark
WorthamWortham,
OctoberOctober
OctOct 2
Wortham ServicesWortham Services
$ 64 comma 000$64,000
3
$ 600$600,
$ 11 comma 900$11,900,
4
$ 5 comma 700$5,700.
7
$ 34 comma 000$34,000.
11
$ 3 comma 500$3,500.
WorthamWortham
16
OctoberOctober
17
$ 560$560.
18
$ 1 comma 400$1,400.
22
$ 390$390.
29
$ 2 comma 300$2,300
31
$ 2 comma 800$2,800.
31
$ 2 comma 700$2,700.
Journal Entry
Date
Accounts
Debit
Credit
Oct
Record each transaction in the journal. Be sure to record the date in each entry. Explanations are not required.
2.
Post the transactions to the T-accounts, using transaction dates as posting references. Label the ending balance of each account Bal.
3.
Prepare the trial balance ofWortham ServicesWortham Services,
Inc., atOctoberOctober
31 of the current year.4.
MarkMark
WorthamWortham,
the manager, asks you how much in total resources the business has to work with, how much it owes, and whetherOctoberOctober
was profitable (and by how much)Explanation / Answer
Journal entry :
Date accounts & explanation debit credit Oct 2 Cash a/c 64000 common stock 64000 Oct 3 Supplies 600 Equipment 11900 Account payable 12500 Oct 4 Cash 5700 Service revenue 5700 Oct 7 Land 34000 Cash 34000 Oct 11 Account receivable 3500 Service revenue 3500 Oct 16 Account payable 11900 Cash 11900 Oct 17 Advertising exp 560 Cash 560 Oct 18 Cash 1400 Account receivable 1400 Oct 22 Water and electricity exp 390 Cash 390 Oct 29 Cash 2300 Unearned service revenue 2300 Oct 31 Salaries exp 2800 Cash 2800 Oct 31 Dividend a/c 2700 Cash 2700Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.