Wrote off Susan Vine's past-due account as uncollectible, $427.50. Common stock issued is $ 11,780.00 of $ 10.00 stated-value common stock. Preferred stock issued is $40,400.00 of 10%, $ 100.00 par-value preferred stock. Whitehurst's board of directors declared an annual dividend of $ 15,820.00. Source documents are abbreviated as follows: check, C memorandum, M note payable, NP note receivable, NR receipt, R. Other prepaid and unearned items are recorded initially as assets and liabilities. Whitehurst records prepaid interest expense initially as an expense and rent received in advance as revenue. Use page 23 of a cash receipts journal, page 23 of a cash payments journal, and page 12 of a general journal.
Post the column totals on page 2 of the journal.The accounting activities are for Whitehurst, Inc., a merchandising business organized as a Corporation.Post the separate amounts on each line of page 2 of the journal that need to be posted individually.The balance on the next unused check stub is $13,683.00. The beginning cash balance on May 1 is zero. Paid cash to owner for personal use, $1,000.00. Paid cash to replenish the petty cash fund, $165.00: miscellaneous expense, $120.00 repairs, $45.00. Received bank statement showing May bank service charge, $15.00. Continue using page 2 of the journal, and journalize the following transactions.
The following information is obtained from the bank statement and from the records of the business. Extreme Adventures received a bank statement dated May 27.Received cash on account from Matterhorn University, $250.00. Paid cash for miscellaneous expense, $37.00. Post the separate amounts on each line of page 1 of the journal that need to be posted individually.Carry the column totals forward to page 2 of the journal. R2.īought supplies on account from Greenway Supplies, $120.00. Received cash on account from Midwest College, $125.00. Paid cash for miscellaneous expense, $95.00. Sold services on account to Matterhorn University, $425.00. Paid cash on account to Dunn Supplies, $500.00. Paid cash to owner for personal use, $200.00. Sold services on account to Midwest College, $225.00. Paid cash for miscellaneous expense, $40.00. Paid cash to establish a petty cash fund, $250.00. C2.īought supplies on account from Dunn Supplies, $900.00. Received cash from owner as an investment, $15,000.00. Source documents are abbreviated as follows: check stub, C memorandum, M receipt, R sales invoice, S calculator tape, T. Use page 1 of the general journal given below. Journalize the following transactions completed during May of the current year.
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