Description of this paper

Accounting Principles I Chapter 2




Question;Accounting;Principles I;Chapter;2;JOURNAL;Name;Complete;the following activity and save this file on your hard drive. Then submit your file to your instructor on;Canvas.;Journalize each of the;following transactions for the Glub Company in the month of January using the;General Journal below.;Jan. 1 The owner, Barry Glub, invested $7,000 cash;into the business.;Jan. 4 The company bought equipment costing $5,000;by paying $1,500 cash and signing a Note Payable for the remainder.;Jan. 9 The company bought office supplies for $600;and charged them on 30-day open account.;Jan. 12 The company bought a 2-year insurance policy;for $1,200 and paid cash for it.;Jan. 15 Received a customer deposit in the amount of;$1,500 cash for services to be performed in the future.;Jan. 18 Paid rent on office space, $400.;Jan. 23 Collected $3,400 from a customer for;services performed today.;Jan. 23 Received electric bill for January;electricity for $200. Even though the;electricity has been used, this bill will NOT be paid until next month.;Jan. 30 Counted the unused portion of office;supplies purchased on Jan. 9 and discovered that $200 worth had not been used;yet.;General Journal;Date;Account title;Debit;Credit;For each of the following account titles indicate the;normal balance side and if the account is a real or temporary account.;Normal Balance;DR or CR;Real/Temporary;(R) or (T);1. Accounts Payable;2. Advertising Expense;3. L. Pavarotti, Capital;4. Service Revenue;5. Cash;6. Accounts Receivable;7. Office Equipment;8. Prepaid Insurance;9. L. Pavarotti, Drawing;10. Unearned Fees


Paper#40174 | Written in 18-Jul-2015

Price : $22