39. The Posting Reference column of the journal provides a cross-reference between the a ledger and…
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Question “39. The Posting Reference column of the journal provides a cross-reference between the a ledger and…”
39. The Posting Reference column of the journal provides a cross-reference between the a ledger and accounts. b. journal and ledger. c. ledger and financial statements. d journal and financial statements. 40. If cash is paid for office rent, the transaction includes 2. debiting Rent Expense and crediting Cash. b. debiting Rent Expense and crediting Accounts Payable. c. debiting Rent Expense and crediting Capital. d. debiting Cash and crediting Rent Expense. 41. Tom Edwards opened an auto repair business on Apr. 1, 20. During the first month of operations, the fir had the following transactions. Record these transactiobs on page 1 of the general journal. Omit explanations Post appropriate transactions to the general ledger and complete a trail balance. DO NOT FORGET POST REFERNECES. Apr. 1 Tom Edwards invested $30,000 cash in the business. I 2 Paid rent for April, S2,100. & Bought equipment for $12,000 and issued a check for $3,000 as a down payment. 12 Performed services for $3,200 in cash, and S1,200 on credit. 19 Paid electric bill, S225. 25 Received 5900 on account from credit customers. Page 1 JOURNAL Post Ref. Description Debit Date Credit CANE
GENERAL LEDGER Account Cash Post Ref. Account No. 101 Balance Debit Credit Date Item Debit Credit Account Accounts Receivable Account No. 122 Balance Debit Credit Post Ref. Date Item Debit Creditt Account Equipment Post Ref. Account No. 181 Balance Debit Credit Date Item Debit Credit Account Accounts Payable Post Ref. Account No. 202 Balance Debit Credit Date Item Debit Credit Account Tom Edwards. Capital Post Date Item Ref. Account No. 311 Balance Debit Credit Debit Credit Account Service Tees Post Ref. Account No. 401 Balance Debit Credit Date Item Debit Credit
Page 5 Account Electricity Expense Account No. 533 Balance Debit Credit Post Ref. Date Item Debit Credit + 5 English (United States) AM
Answer
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Particulars | Ref. | Credit | |||
April | 1 | Cash account | 101 | 30,000 | |
To capital | 311 | 30,000 | |||
2 | Rent exepenses account | 2100 | |||
To cash | 101 | 2,100 | |||
8 | Equipment account | 181 | 12,000 | ||
To bank | 101 | 3000 | |||
To Account payable | 202 | 9000 | |||
12 | Cash account | 101 | 3,200 | ||
Account Receiviable | 122 | 1,200 | |||
To service fees | 401 | 4,400 | |||
19 | Cash account | 101 | 225 | ||
To electric exepenses | 533 | 225 | |||
25 | Cash account | 101 | 900 | ||
To Account Receiviables | 122 | 900 | |||
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K N R Account CASH 101). Balances Date Debit Credit Credit Credit Post ref J1 debit 30,000 April 1 2,100,225 J1 600 900 34.100 5325 Balance 28,775Account Account Receivables 1221 Account Date Item Credit April J1 1,200 Credit J1 1,200 Credit J1 1,200 Credit J1 1,200 Credit J1 1,200 Credit J1 300 Equipment 181) Date Item Credit Debit Balances April 3,000 J1 8 To cash Balance 3,000 9000 J1 122,000 i 12,000
J K L N O R Account Account Account Payable 220 Balances Debit Card Debit Credit Item 8 by Equipment Post ref J1 Apr 9,000 9,000, 0 9000 Balance Account Tom Capital 311 balances Date Item Post ref Credit Debit April J1 By cash J1 130,000 0 30,000 (30,000) Account Service Fees 411 Balances Date Date Item Post ref Credit Debit April J1 12 Cash By Account receivable Credit 3,200 3,200 1200 0, 4,400 Balance 4400
Account Electricty 5331 Credit Balances Credit Post ref J1 April 19 To Cash 225225225225 0 Balance 225. Account Rent Balances Date Post ref Credit Debit Credit Item 2 To Cash April J1 2,100 2,100, 2,100 01 Balance 2.100
Trial Balance Cash Account Receviable Equipment Total Debit Credit 28,775 300 12,000 9,00 4,400 225 2,100 43.400 43.400
Conclusion
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