Class Exercise-Chap 2-Solutions(1).xls - GENERAL JOURNAL Date Aug Account Titles and Explanation 1 Cash PR Debit 191 165 307 3,000 15,000 2 Furniture

Class Exercise-Chap 2-Solutions(1).xls - GENERAL JOURNAL...

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GENERAL JOURNAL Date Account Titles and Explanation PR Debit Aug 1 Cash 191 3,000 Store Equipment 165 15,000 Common Stock 307 Owner's investment 2 Furniture 161 600 Cash 101 Purchased furniture for cash 3 Rent Expense 640 500 Cash 101 Paid rent for August 4 Store Equipment 165 1,200 Note Payable 240 Purchased additional equipment on credit 15 Cash 101 825 Haircutting Services Revenue 403 Cash receipts from first half of August 15 Accounts Receivable 102 100 Haircutting Services Revenue 403 To record revienue for services provided on account 17 Cash 101 100 Accounts Receivable 102 To record cash recived as payment on account 17 Wages Expense 623 125 Cash 101 Paid wages to assistant 31 Cash 101 930 Haircutting Services Revenue 403 Cash receipts from second half of August 31 Note Payable 240 400 Cash 101 Paid an installment on the note payable 31 Dividends 319 900 Cash 101 Cash withdrawal by owner
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