Financial Accounting
3rd Edition
ISBN: 9780133791129
Author: Jane L. Reimers
Publisher: Pearson Higher Ed
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Chapter B, Problem 29EB
To determine
Record the each transactions of FB Corporation in T-accounts determine the ending balance of each accounts and prepare unadjusted
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Enter the following transactions in the records of TRUST GOD Enterprise, balance the various
accounts and extract a trial balance for the month of June 2018.
June 1 stated business with GH¢55,000 of the bank
June 2 Bought goods on credit from Blessing GH¢1,200
June 3 Bought goods GH¢ 700 from John paying by cheque
June 4 Return goods to Blessing GH¢500
June 7 Sold good for cash GH¢3,000
June 8 Bought furniture by cheque GH¢1,750
June 9 Banked cash GH¢1,500
June 12 Sold goods on credit to Deede GH¢480
June 14 Received loan GH¢2,300 from Andra
June 15 Deede returned goods GH¢210
June 18 Paid rent GH¢750 by cash
June 20 Received discount of GH¢60 by cash
June 24 Withdrew GH¢ 800 from the bank for personal use
June 30 Received electricity bill GH¢230 from E. C. G but not settle
Review the following transactions.
(Click the icon to view the transactions.)
Requirement
1. Record the transactions directly in the T-accounts without using a journal. Use the letters to identify the transactions. Determine the ending balance in each account.
(Select the "Bal" label on the normal balance side of the account and enter the ending balances.)
Cash
Common Stock
More info
Luke Newton opened a law firm by investing $22,000 cash and office furniture
with a fair value of $8,700. Organized as a professional corporation, the
а.
business issued common stock to Newton.
Paid monthly rent of $1,000
Purchased office supplies on account, $1,500.
b.
с.
Accounts Receivable
Dividends
d. Paid employees' salaries of $2,700.
Paid $550 of the accounts payable created in transaction c.
Performed legal service on account, $11,100.
Declared and paid dividends of $2,300.
е.
f.
g.
Office Supplies
Service Revenue
Print
Done
n 1. Enter the following transactions in T accounts. Label each debit and credit with the letter identifying the transaction. Prepare a trial balance at June 30.
On June 8, Lynne Jones opened a bank account in the name of her new business, Bluegrass company, by making a bank deposit of $82,000 cash.
On June 12, Purchase a small office building located on a large lot for a total price of $91,200, of which $48,000 was applicable to the land and $43,200 to the building. A cash payment of $18,240 was made and a note payable was issued for the balance of the purchase price.
On June 14, office equipment was purchased at a cost of $7,100. A cash down payment of $1,100 was made, and it was agreed that the balance should be paid within 30 days.
On June 20, withdrew $1,100 cash from the business for personal use.
On June 25, paid $450 for publication of newspaper advertising.
On June 26, paid salaries $6,500 to employees for services rendered.
Chapter B Solutions
Financial Accounting
Ch. B - Indicate whether each of the following accounts...Ch. B - Prob. 2YTCh. B - Prob. 1QCh. B - Prob. 2QCh. B - Prob. 3QCh. B - Prob. 4QCh. B - Prob. 5QCh. B - Prob. 6QCh. B - Prob. 7QCh. B - Prob. 8Q
Ch. B - Prob. 9QCh. B - Prob. 1MCQCh. B - Prob. 2MCQCh. B - Prob. 3MCQCh. B - Prob. 4MCQCh. B - Prob. 5MCQCh. B - Prob. 6MCQCh. B - Prob. 7MCQCh. B - Prob. 8MCQCh. B - Prob. 9MCQCh. B - Prob. 10MCQCh. B - Prob. 1SEACh. B - Prob. 2SEACh. B - Prob. 3SEACh. B - Prob. 4SEACh. B - Prob. 5SEACh. B - Prob. 6SEACh. B - Prob. 7SEACh. B - Prob. 8SEACh. B - Prob. 9SEACh. B - Prob. 10SEBCh. B - Prob. 11SEBCh. B - Prob. 12SEBCh. B - Prob. 13SEBCh. B - Prob. 14SEBCh. B - Prob. 15SEBCh. B - Prob. 16SEBCh. B - Prob. 17SEBCh. B - Prob. 18SEBCh. B - Prob. 19EACh. B - Prob. 20EACh. B - Record transactions to T-accounts and prepare an...Ch. B - Prob. 22EACh. B - Prob. 23EACh. B - Record closing entries and compute net income. (LO...Ch. B - Record journal entries, record adjusting entries,...Ch. B - Record journal entries, post to T-accounts, and...Ch. B - Prob. 27EBCh. B - Prob. 28EBCh. B - Prob. 29EBCh. B - Prob. 30EBCh. B - Prob. 31EBCh. B - Prob. 32EBCh. B - Prob. 33EBCh. B - Prob. 34EBCh. B - Prepare a trial balance and financial statements....Ch. B - Record journal entries, post to T-accounts, and...Ch. B - Prepare closing entries and financial statements....Ch. B - Record adjusting journal entries, post to...Ch. B - Prob. 39PACh. B - Prob. 40PACh. B - Prob. 41PACh. B - Prob. 42PACh. B - Prob. 43PBCh. B - Prob. 44PBCh. B - Prob. 45PBCh. B - Prob. 46PBCh. B - Prob. 47PBCh. B - Prob. 48PBCh. B - Prob. 49PBCh. B - Prob. 50PBCh. B - Prob. 51FSACh. B - Prob. 52CTP
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