Exercise 4.2 Recording transactions in the general journal. LO 1
Selected accounts from the general ledger of Vinzant Consulting Services follow. Record
the general journal entries that would be made to record the following transactions.
Arrange the steps in accounting cycle in the proper sequence.
Analyze transactions .
Journalize the transactions .
Post the journal entries .
Prepare a worksheet .
Prepare financial statements .
Record adjusting entries .
Setting up T accounts.
Williams Cleaning Service has the following account balances on December 31, 2013.
Set up a T account for each account and enter the balance on the proper side of the
Given Data P04.01A:
LANCASTER SPORTS ARENA
1 Issued Check 1169 to pay September rent.
5 Performed services for cash.
Notes from Your Instructor
Chapter 5 discusses end-of-the-period adjustments to some of the accounts and the
Worksheet, which is used to work out all of the end-of-the-period numbers before
preparing the financial statements.
The first two colum
Exercise 2.1 Determining accounting equation amounts. LO 1, 2
Just before Anderson Laboratories opened for business, Roy Anderson, the owner, had
the following assets and liabilities.