Acct 2301 Chap 2B Excel

Acct 2301 Chap 2B Excel - Given Data Chap 2B VENTURE...

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Unformatted text preview: Given Data Chap 2B VENTURE CONSULTANTS Mar 1 Invested cash $150,000 Invested office equipment 22,000 2 Prepaid six months' rent 6,000 3 Purchased office equipment on credit 3,000 Purchased office supplies on credit 1,200 6 Completed services and received cash 4,000 9 Completed services for account receivable 7,500 in 30 days 12 Paid account payable created March 3 4,200 19 Paid cash for annual insurance premium 5,000 22 Received for March 9 work 3,500 25 Completed services on credit 3,820 29 Withdrew cash for personal use 5,100 30 Purchased office supplies on credit 600 31 Paid cash for month's utility bill 500 Check figures: (2) Ending balances Cash $136,700 Accounts Receivable 7,820 Accounts Payable 600 (3) Total debits $187,920 Kasey Reese opens a consulting business. 1. Open the general ledger accounts Cash and Office Equipment before doing the general journals Cash $150,000 Office Equipment $22,000 Capital $172,000 2. Prepare general journal entries to record the above transactions (See page 55-68 for examples)...
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This note was uploaded on 06/30/2011 for the course ACCOUNTING 2301 taught by Professor Sarah during the Fall '10 term at HCCS.

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Acct 2301 Chap 2B Excel - Given Data Chap 2B VENTURE...

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