Post to the ledger accounts

Assignment Help Accounting Basics

Reference no: EM131025617

Bridgette Keyes is a licensed dentist. During the first month of the operation of her business, the following events and transactions occurred.

	1	Invested $20,000 cash in the business.
	1	Hired a secretary-receptionist at a salary of $700 per week payable monthly.
	2	Paid office rent for the month $1,100.
	3	Purchased dental supplies on account from Smile Company $4,000.
	10	Performed dental services and billed insurance companies $5,100.
	11	Received $1,000 cash advance from Heather Greene for an implant.
	20	Received $2,100 cash for services performed from James Chang.
	30	Paid secretary-receptionist for the month $2,800.
	30	Paid $2,400 to Smile Company for accounts payable due.

Bridgette uses the following chart of accounts: No. 101 Cash, No. 112 Accounts Receivable, No. 126 Supplies, No. 201 Accounts Payable, No. 209 Unearned Service Revenue, No. 301 Owner's Capital, No. 400 Service Revenue, No. 726 Salaries and Wages Expense, and No. 729 Rent Expense.

Instructions

(a) Journalize the transactions.

(b) Post to the ledger accounts.

Reference no: EM131025617

Questions Cloud

Find the density function for t : The number of arrivals N at a supermarket checkout counter in the time interval from 0 to t follows a Poisson distribution with mean λt. Let T denote the length of time until the first arrival. Find the density function for T.

Identifying letter of best description : In each blank next to the following terms, place the identifying letter of its best description.

Flexible budget cost formula for indirect materials : Muntjac Corporation's flexible budget cost formula for indirect materials, a variable cost, is $0.75 per unit of output. Assume that actual units produced equals standard units produced. If the company's performance report for last month shows a $250..

Determine the best shape for containers : You have been asked to determine the best "shape" for containers - in other words, can you determine which containers (regular prisms or cylinder) hold 20 ounces but can be produced at the best price.

Post to the ledger accounts : Bridgette uses the following chart of accounts: No. 101 Cash, No. 112 Accounts Receivable, No. 126 Supplies, No. 201 Accounts Payable, No. 209 Unearned Service Revenue, No. 301 Owner's Capital, No. 400 Service Revenue, No. 726 Salaries and Wages E..

Another manufacturer has offered to supply the part annually : Gerenuk Company currently produces a key part at a total cost of $120,000. Annual variable costs are $35,000. Of the annual fixed costs, $12,000 relate specifically to this part. The remaining fixed costs are unavoidable. Alternatively, the facilitie..

Describes the behavior of the system : Use the MATLAB command conv to calculate the response of the system

What are the shareholders earnings from the corporation : Consider a S corporation. The corporation earns $3.5 per share before taxes. The corporate tax rate is 35%, the tax rate on dividend income is 15%, and the personal income tax rate is set at 39.6%. What are the shareholder's earnings from the corpora..

After the corporation has paid its corresponding taxes : Consider a C corporation. The corporation earns $3.5 per share before taxes. After the corporation has paid its corresponding taxes, it will distribute 100% of its earnings to its shareholders as a dividend. The corporate tax rate is 35%, the tax rat..

User Account

All Pages