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On October 1, 2016. Satillo Richey opened an advertising agency. DATE TRANSACTIONS Oct. 1 Satillo Richey...

Question:

On October 1, 2016. Satillo Richey opened an advertising agency. DATE TRANSACTIONS Oct. 1 Satillo Richey invested $52,000 cas
View transaction list Journal entry worksheet 2 3 4 5 6 7 8 ..... Satillo Richey invested $52,000 cash in the business. Note:
View transacting list 1 Satillo Richey invested $52,000 cash in the business. 2 Paid October office rent of $2,600; issued Ch
2 Post the above transactions to the ledger accounts. Account No. 101 Credit Balance Accounts Receivable Date Debit Account N
Supplies Account No. 121 Credit Balance Office Equipment Date Debit Account No. 141 Credit Balance Date Debit
Art Equipment Date Debit Account No. 151 Credit Balance Accounts Payable Date Debit Account No. 202 Credit Balance III
Saltillo Richey, Capital Date Debit Account No. 301 Credit Balance Saltillo Richey, Drawing Date Debit Account No. 302 Credit
Rent Expense Date Debit Account No. 514 Credit Balance Salaries Expense Date Debit Account No. 517 Credit Balance
Check Telephone Expense Date Debit Account No. 520 Credit Balance Utilities Expense Date Debit Account No. 523 Credit Balance
On October 1, 2016. Satillo Richey opened an advertising agency. DATE TRANSACTIONS Oct. 1 Satillo Richey invested $52,000 cash in the business 2 Paid October office rent of $2,600; issued Check 1001. 5 Purchased desks and other office furniture for $14,200 from Office Furniture Mart, Inc., received Invoice 6704 payable in 60 days. 6 Issued Check 1002 for $2.800 to purchase art equipment 7 Purchased supplies for $1,150; paid with Check 1003. 10 Issued Check 1004 for $520 for office cleaning service. Performed services for $3,700 in cash and $1,500 on credit. (Use a compound entry.) 15 Returned damaged supplies for a cash refund of $320. 18 Purchased a computer for $2,600 from Office Furniture Mart, Inc., Invoice 7108; issued Check 1005 for a $1,550 down payment, with the balance payable in 30 days. (Use one compound entry.) 20 Issued Check 1006 for $7100 to Office Furniture Mart, Inc., as payment on account for Invoice 6704. 26 Performed services for $4,000 on credit. 27 Paid $285 for monthly telephone bill: issued Check. 1007. 30 Received $3,300 in cash from credit customers. 30 Mailed Check 1008 to pay the monthly utility bill of $360. 30 Issued Checks 1009-1011 for $7,600 for salaries. 1. Journalize the above transactions,
View transaction list Journal entry worksheet 2 3 4 5 6 7 8 ..... Satillo Richey invested $52,000 cash in the business. Note: Enter debits before credits. General Journal Debit Credit Date Oct 01, 2016 Record entry Clear entry View general journal
View transacting list 1 Satillo Richey invested $52,000 cash in the business. 2 Paid October office rent of $2,600; issued Check 1001. 3 Purchased desks and other office furniture for $14,200 from Office Furniture Mart, Inc.; received Invoice 6704 payable in 60 days. Credit 4 Issued Check 1002 for $2,800 to purchase art equipment. 5 Purchased supplies for $1,150; paid with Check 1003. 6 Issued Check 1004 for $520 for office cleaning service. Note: = journal entry has been entered Record entry Clear entry View general journal
2 Post the above transactions to the ledger accounts. Account No. 101 Credit Balance Accounts Receivable Date Debit Account No. 111 Credit Balance Date Debit
Supplies Account No. 121 Credit Balance Office Equipment Date Debit Account No. 141 Credit Balance Date Debit
Art Equipment Date Debit Account No. 151 Credit Balance Accounts Payable Date Debit Account No. 202 Credit Balance III
Saltillo Richey, Capital Date Debit Account No. 301 Credit Balance Saltillo Richey, Drawing Date Debit Account No. 302 Credit Balance
Rent Expense Date Debit Account No. 514 Credit Balance Salaries Expense Date Debit Account No. 517 Credit Balance
Check Telephone Expense Date Debit Account No. 520 Credit Balance Utilities Expense Date Debit Account No. 523 Credit Balance Analyze: What is the balance of account 202 in the general ledger? Balance of account 202

Answers

Satillo Richey Journal entries Date Accounts 1-Oct Cash Satillo Richey, Capital Credit Debit $ 52,000 $ 52,000 $ 2,600 2-OctRBalance Date Debit Credit Balance Accounts Receivable 12-Oct $ 1,500 $ 1,500 26-Oct $ 4,000 $ 5,500 30-Oct $ 3,300 $ 2,200 $

Balance in Account 202 - Accounts Payable = $8,150

Satillo Richey Account Names Cash Accounts Receivable Supplies Office Equipment Art Equipment Accounts Payable Satillo Richey

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