Classify Statement Accounts Cheat Sheet 2.docx - Owner...

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Owner deposited $31,000 in business bank account. Rogers Company purchased land for $410,000 on account.
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Martin Company received $6,900 for services performed. Phillips Company paid current utility bill of $1,900. Parker Company purchased equipment on account, $4,300.
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Richardson Company paid current month's rent, $2,000. Harris Company placed an ad in the local paper for the current month to be paid next month, $1,400. June 24 Ramirez Company pays $1,600 for monthly advertising expenses. November 26 Ramirez Company receives and pays a bill for a two-year insurance policy premium, $3,600. The policy begins on December 1.
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April30Harris Company pays $2,900 of monthly salaries. September 28 Harris Company receives $2,600 payment from a customer on account. May 23 Mitchell Company receives $6,900 payment from a customer on account. October 19 Mitchell Company purchases equipment costing $5,200, paying 40% down and the rest on account. April 2 Long Company receives and pays a bill for a two-year insurance policy premium, $3,300. The policy begins on May 1.
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August 17 Long Company pays balance due of $2,600 on tools previously purchased. March 25 Coleman Company purchases equipment costing $5,900, paying 40% down and the rest on account. September 24 Coleman Company receives utility bill of $2,000 and pays it.
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April 19 Owner withdraws $2,600 of cash for personal use. September 18 Torres Company purchases equipment costing $5,300, paying 40% down and the rest on account. June 27 Wright Company pays balance due of $3,500 on tools previously purchased. September 30 Wright Company receives $7,000 payment from a customer on account. March 7 Owner deposits $41,000 in business bank account as an initial investment. August 10 Butler Company pays current month's rent, $1,700.
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On October 1, Ross Company received $13,800 for six months of rent in advance. Ross Company recorded the transaction by debiting Cash and crediting Unearned Rent Revenue . Required: Journalize the adjusting entry on December 31.
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  • Fall '19
  • 1979, 1973, 1970

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