College Accounting (Book Only): A Career Approach
13th Edition
ISBN: 9781337280570
Author: Scott, Cathy J.
Publisher: South-Western College Pub
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Textbook Question
Chapter 2, Problem 1E
On a sheet of paper, draw the fundamental
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Identify in what ledger (general or subsidiary or both) each of the following accounts is shown.
Accounts
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a.
Rent Expense.
select a type of ledger
b.
Accounts Receivable—Cabrera.
select a type of ledger
c.
Notes Payable.
select a type of ledger
d.
Accounts Payable—Pacheco.
select a type of ledger
a list of each customer account and thre balance owed is a:
The following transactions occurred for Luminary Engineering:
View the transactions.
Journalize the transactions of Luminary Engineering. Include an explanation with each journal entry. Use the following accounts: Cash; Accounts Receivable; Supplies; Equipment;
Accounts Payable; Notes Payable; Luminary, Capital; Luminary, Withdrawals; Service Revenue; and Utilities Expense. (Record debits first, then credits. Select the explanation on the
last line of the journal entry table.)
July 2: Received $15,000 contribution from Bobby Luminary, owner, in exchange for capital.
Date
Jul. 2
Transactions
Jul. 2
Accounts and Explanation
Jul. 4
Jul. 5
Jul. 10
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Jul. 27
Debit
Received $15,000 contribution from Bobby Luminary, owner, in exchange for
capital.
Paid utilities expense of $440.
Purchased equipment on account, $2,600.
Performed services for a client on account, $3,500.
Borrowed $7,200 cash, signing a notes payable.
Luminary withdrew $650 cash from the business.
Purchased…
Chapter 2 Solutions
College Accounting (Book Only): A Career Approach
Ch. 2 - Determine the balance of the following T account:
...Ch. 2 - Which of the following statements is correct? a....Ch. 2 - Prob. 3QYCh. 2 - R. Nelson invests his personal computer, with a...Ch. 2 - When preparing a trial balance, which of the...Ch. 2 - What would be the net income for Floress Catering?...Ch. 2 - On which financial statement(s) would R. Flores,...Ch. 2 - What is the amount of ending capital shown on the...Ch. 2 - Floress Catering purchased equipment that cost...Ch. 2 - Prob. 1DQ
Ch. 2 - Explain why the term debit doesnt always mean...Ch. 2 - Prob. 3DQCh. 2 - How are the three financial statements shown in...Ch. 2 - Prob. 5DQCh. 2 - List two reasons why the debits and credits in the...Ch. 2 - Prob. 7DQCh. 2 - What do we mean when we say that capital, drawing,...Ch. 2 - On a sheet of paper, draw the fundamental...Ch. 2 - List the classification of each of the following...Ch. 2 - R. Dalberg operates Dalbergs Tours. The company...Ch. 2 - During the first month of operation, Graham...Ch. 2 - Speedy Sewing Services, owned by T. Nguyen, hired...Ch. 2 - During the first month of operations, Landish...Ch. 2 - The following errors were made in journalizing...Ch. 2 - Would the following errors cause the trial balance...Ch. 2 - During December of this year, G. Elden established...Ch. 2 - B. Kelso established Computer Wizards during...Ch. 2 - S. Myers, a speech therapist, opened a clinic in...Ch. 2 - On May 1, B. Bangle opened Self-Wash Laundry. His...Ch. 2 - The financial statements for Daniels Custom...Ch. 2 - During February of this year, H. Rose established...Ch. 2 - J. Carrie established Carries Photo Tours during...Ch. 2 - D. Johnston, a physical therapist, opened...Ch. 2 - On July 1, K. Resser opened Ressers Business...Ch. 2 - The financial statements for Baker Custom Catering...Ch. 2 - Prob. 1ACh. 2 - A fellow accounting student has difficulty...Ch. 2 - What Would You Do? A new bookkeeper cant find the...
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- Use the journals and ledgers that follows. Total and rule (draw a line under the column of numbers) the journals. Post the transactions to the subsidiary ledger and (using T-accounts) to the general ledger accounts. Then prepare a schedule of Accounts Payable.arrow_forwardUsing this chart of listed accounts, make a general ledger chart for each one including the account number, account balance and the account title.arrow_forwardIn the columns Below insert the entry that would be made for each transaction under each accounting basis use an appropriate debit and credit account titlesarrow_forward
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