contestada

Concrete Consulting Co. has the following accounts in its ledger: Cash; Accounts Receivable: Supplies; Office Equipment; Accounts Capital; Jason Payne, Drawing: Fees Earned; Rent Expense; Advertising Expense; Utilities Expense; Miscellaneous Expense.
Oct. 1 Paid rent for the month, $3,600
3 Paid advertising expense, $1,200.
5 Paid cash for supplies, $750
6 Purchased office equipment on account, $8,000
10 Received cash from customers on account, $14,800
15 Paid creditors on account, $7,110
27 Paid cash for miscellaneous expenses, $400.
30 Paid telephone bill (utility expense) for the month, $250
31 Fees earned and billed to customers for the month, $33,100
31 Paid electricity bill (utility expense) for the month, $1,050.
31 Withdrew cash for personal use, $2,500
Journalize the transactions for October 2019

Respuesta :

Tundexi

Answer:

                 Journal entries for October 2019

Date    Accounts Titles and Explanation    Debit      Credit

Oct 1    Rent expense                                      $3,600

              Cash                                                               $3,600

            (To record entry for payment of rent for month)

Oct 3    Advertising expenses                        $1,200

                 Cash                                                              $1,200

            (To record entry for Advertising expenses)  

Oct 5     Supplies                                                $750

                    Cash                                                             $1750  

            (To record entry for purchase of supplies)  

Oct 6     Office equipment                                  $8,000

                     Accounts Payable                                        $8,000

             (To record purchase of office equipment on account)

Oct 10     Cash                                                      $14,800

                    Accounts Receivable                                     $14,800

              (To record cash received from customers on account)

Oct 15    Accounts payable                                    $7,110

                    Cash                                                                 $7,110

             (To record payment made to creditors)

Oct 27   Miscellaneous expenses                         $400

                   Cash                                                                 $400

          (To record repair expense of office equipment)

Oct 30    Telephone expense                                $250

                    Cash                                                                $250

            (To record payment made for telephone bill)

Oct 31      Accounts receivables                              $33,100

                      Service fees                                                    $33,100

             (To record fees earned)

Oct 31     Utility expense                                          $1,050

                    Cash                                                                  $1,050  

            (To record payment made for electricity bill)

Oct 31     Personal use                                             $2,500

                    Cash                                                                   $2,500

              (To record payment of dividend)

The Journal Entries are mentioned below.

What are Journal Entries?

A journal entry is the first step—and an essential function—of the accounting process. They are the record of monetary transaction of a business.

                Journal  Entries in the books of Concrete Consulting Co.

                                             for October 2019

Date    Accounts Titles and Explanation                           Debit      Credit

Oct 1    Rent expense  A/c                       Dr.                       $3,600

                           To Cash A/c                                                             $3,600

         (Being rent paid)

Oct 3    Advertising expenses A/c         Dr                          $1,200

                     To Cash A/c                                                                     $1,200

          (Being Advertising expenses paid)  

Oct 5     Supplies A/c                               Dr                            $750

                   To Cash A/c                                                                        $750  

          (Being payment for purchase of supplies)  

Oct 6     Office equipment A/c                 Dr                       $8,000

                    To Accounts Payable A/c                                             $8,000

            (Being office equipment purchased)

Oct 10     Cash A/c                                      Dr                    $14,800

                        To  Accounts Receivable A/c                                  $14,800

             (Being cash received from customers)

Oct 15    Accounts payable A/c                  Dr                    $7,110

                         To Cash A/c                                                                $7,110

            (Being payment made to creditors)

Oct 27   Miscellaneous expenses A/c        Dr                   $400

                          To Cash A/c                                                               $400

         (Being expense made for repair of office equipment)

Oct 30    Telephone expense   A/c             Dr                    $250

                          To Cash A/c                                                               $250

           (Being payment made for telephone bill)

Oct 31      Accounts receivables A/c          Dr                  $33,100

                          To Service fees A/c                                                 $33,100

            (Being fees earned)

Oct 31     Utility expense A/c                     Dr                    $1,050

                           To Cash A/c                                                             $1,050  

           (Being electricity bill paid)

Oct 31     Personal use A/c                        Dr                     $2,500

                           To Cash A/c                                                           $2,500

             (Being cash withdrawn for personal use)

Therefore the above Journal  Entries captures all the transactions.

Learn more about Journal  Entries here:

https://brainly.com/question/20421012

Otras preguntas