Pos t eac h trans ac tion to the appropriate ledger

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Unformatted text preview: h trans ac tion to the appropriate ledger ac c ounts . (Leave no cells blank ­ be certain to enter "0" wherever required. Om it the "$" sign in your response.) Cas h Date 2011 J une 1 2 4 15 18 25 30 Debit 60,000 0 0 0 0 4,910 0 Credit 0 40,000 2,500 5,800 1,890 0 6,000 Balanc e 60,000 20,000 17,500 11,300 0 0 0 Ac c ounts Rec eiv able Date 2011 J une 15 25 30 Debit 8,320 0 0 Credit 0 0 0 Balanc e 8,320 0 0 0 Balanc e 0 0 Balanc e Balanc e 0 0 Balanc e 0 Balanc e 0 Balanc e 0 Balanc e 0 Balanc e 0 0 Balanc e 0 Balanc e 0 Balanc e 0 0 Balanc e 0 Airc raft Date 2011 J une 2 Debit Date 2011 J une 2 Credit Debit 0 Notes Pay able Credit Debit Credit 0 Ac c ounts Pay able Date 2011 J une 30 Debit Credit 0 Div idends Pay able Debit Credit 0 0 Date 2011 J une 30 Capital Stoc k Date 2011 J une 1 Debit Date 2011 J une 30 Credit Debit 0 0 Div idends Credit 0 0 Aerial Photography Rev enue Date 2011 J une 15 30 Debit Date 2011 J une 18 Debit Credit Credit 0 0 0 0 Maintenanc e Ex pens e 0 0 Fuel Ex pens e Date 2011 J une 30 Debit Credit Date 2011 J une 15 30 Debit Date 2011 J une 4 Debit Credit 0 0 Salaries Ex pens e Credit 0 0 0 0 Rent Ex pens e 0 0 d. Prepare a trial balanc e dated J une 30, 2011. (Om it the "$" sign in your response.) AERIAL VIEWS Trial Balanc e J une 30, 2011 Dividends payable Aerial photography revenue Notes payable Aircraft $ 0 0 0 e z to.mhe c loud.mc gr a w- hill.c om/hm_a c c ounting.tpx? todo= pr intvie w $ 0 2/7 11/18/13 Assignme nt Pr int Vie w $ 0 0 0 0 0 0 0 0 0 $ 4,000 Aircraft Fuel expense Fuel expense Cash Cash Aerial photography revenue Accounts receivable Capital stock Maintenance expense Notes receivable Fuel expense $ 0 0 0 e. Us ing figures from the trial balanc e prepared in part d, c ompute total as s ets , total liabilities , and owners ’ equity . (Om it the "$" sign in your response.) Total as s ets Total liabilities Total owners ' (s toc k holders ') equity $ 8,000 $ 4,000 $ 4,000 Worksheet Learning Objective: 03­04 Explain the double­entry system of accounting. Learning Objective: 03­08 Understand how revenue and expense transactions are recorded in an accounting system. Learning Objective: 03­01 Identify the steps in the accounting cycle and discuss the role of accounting records in an organization. Learning Objective: 03­05 Explain the purpose of a journal and its relationship to the ledger. Learning Objective: 03­09 Prepare a trial balance and explain its uses and limitations. Learning Objective: 03­02 Describe a ledger account and a Learning Objective: 03­06 Explain the nature of net income, Learning Objective: 03­10 Distinguish between accounting l e d g e r. revenue, and expenses. cycle procedures and the knowledge of accounting. Learning Objective: 03­03 Understand how balance sheet accounts are increased or decreased. Learning Objective: 03­07 Apply the realization and matching principles in recording revenue and expenses. In J une 2011, Wendy Winger organi...
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This document was uploaded on 03/03/2014 for the course MGMT ACCOU 2300 at Rensselaer Polytechnic Institute.

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