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AC 2799 - Week 3 Budgeting & Journal Entries

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Question;Exercise 3.1Journal EntriesJournal entries:12/6Sales of 10 trees for $1,400--- cash and carryPaid insurance bill for one year policy effective 12/1 for $1,200******* will need adjusting entry12/10Received $4,000 for work to be done over approximately four monthsSales of $10,000, $6,000 in cash, rest on accountSale on account of 12/5 pays $50012/11Paid full amount due on AP of 12/5Paid wages of $8,200, includes tax paymentwages done by ADPSales of 75 trees @ 250 each, 25 yards mulch @ $50 each, $20,000, paid in cashPurchase 1500 yards of mulch for $30,000 on account12/15Sales of 11 bushes for $1,100, paid in cashFuel expense of $1,300Purchased office supplies for $125 on account12/18Sales of $9,000, $5,000 in cash, rest on accountPaid for newspaper ad - $800Rented equipment - $15012/22Sales of $14,000, $4,000 in cash, rest on accountPaid for repair of truck - $450Installation revenue collected - $2,50012/23Sales of $14,000, on accountPurchased 1000 bushes for $30,000 on accountFuel expense paid of $2,100Paid phone bill of $200Bank fees of $32012/26Sales of 10 yards of mulch for $500, paid in cashPaid $300 principle payment and $50 interest on Long term note due 12/31Repaired Building front door - $1,000 on accountSales of $29,000, on account12/27Paid wages of $7,450, includes tax paymentwages done by ADPPaid November sales tax of $6,200Installation revenue paid - $2,500

 

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