1. Use the Following Balance Sheet and Journal Entries to create a Ledger for DR Accounts and Explanations Drawings Ref CR Date 08-Jan Cash 15.000 Balance Sheet for V's Violins As of January 1st, 2020 Assets Cash Accounts Receivable Supplies Prepaid Rent Equipment 15,000 Mr. V withdrew Money 27000 4000 2500 7000 Cash Uneamed Revenue Customer Deposit 1,700 11-Jan 1,700 5500 Accounts Receivable 2,300 2,300 17-Jan Revenue Account Total Asset 46000 Liabilities Accounts Payable Unearned Revenue Bank Loan 900 2500 25000 Accounts Payable 18-Jan Bank Loan Cash Paid off amounts owing 1,500 7,500 9,000 Total Liabilities 36500 Equity Mr. V Capital Equipment 22-Jan Credit Card Payable account 2,500 9500 2,500 V's Violins Total Liabilities · Equity 46000 Food Expense 27-Jan Credit Card Payable Bought Coffee 300 300 Cash 3,000
1. Use the Following Balance Sheet and Journal Entries to create a Ledger for DR Accounts and Explanations Drawings Ref CR Date 08-Jan Cash 15.000 Balance Sheet for V's Violins As of January 1st, 2020 Assets Cash Accounts Receivable Supplies Prepaid Rent Equipment 15,000 Mr. V withdrew Money 27000 4000 2500 7000 Cash Uneamed Revenue Customer Deposit 1,700 11-Jan 1,700 5500 Accounts Receivable 2,300 2,300 17-Jan Revenue Account Total Asset 46000 Liabilities Accounts Payable Unearned Revenue Bank Loan 900 2500 25000 Accounts Payable 18-Jan Bank Loan Cash Paid off amounts owing 1,500 7,500 9,000 Total Liabilities 36500 Equity Mr. V Capital Equipment 22-Jan Credit Card Payable account 2,500 9500 2,500 V's Violins Total Liabilities · Equity 46000 Food Expense 27-Jan Credit Card Payable Bought Coffee 300 300 Cash 3,000
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter6: Cash And Receivables
Section: Chapter Questions
Problem 13GI
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