Solution to Homework 2.pdf - Solution to Homework 2 Transaction Analysis and Trial Balance(LO4 LO5 LO6 a 1 Rent Expense Cash To record payment of rent

Solution to Homework 2.pdf - Solution to Homework 2...

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Solution to Homework 2 Transaction Analysis and Trial Balance (LO4, LO5, LO6) a. 1) Rent Expense 510 Cash 510 To record payment of rent expense 2) Cash 7,100 Accounts Receivable 7,100 To record collections from customers 3) Notes Payable 1,800 Cash 1,800 To record payment of notes payable 4) Accounts Receivable 16,550 Service Fees Earned 16,550 To record customer billings 5) Cash 1,200 Sevice Fees Earned 1,200 To record service fees rendered and collected 6) Accounts Payable 1,400 Cash 1,400 To record payments to creditors 7) Cash 12,750 Accounts Receivable 12,750 To record collections from customers 8) Delivery Expense 650 Cash 650 To record payment of delivery expense 9) Salaries Expense 4,600 Cash 4,600 To record salaries expense 10) Advertising Expense 600 Accounts Payable 600 To record advertising expense to be paid following month 11) Utilities Expense 250 Cash 250 To record payment of salaries expense 12) Dividends 2,000 Cash 2,000 To record payment of dividends 13) Supplies Expense 2,260 Accounts Payable 2,260
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To record supplies expense for the month
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  • Spring '08
  • Davis
  • Trial Balance, Expense, Generally Accepted Accounting Principles, invoice, Accounting software

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