Cash Misha Malnick, Capital Misha Malnick, Drawing Sales Accounts Receivable – Unique Uniforms Supplies Prepaid Insurance Accounts Payable – Master Supplies Rent Expense Utilities Expense Transactions: Sept 1. Received cash from owner as investment, $8,000.00. R1. 2. Paid cash for insurance, $2,500.00. C1 3. Bought supplies on account from Master Supplies, $2,000.00. M1. 4. Paid cash for supplies, $1,500.00. C2. 8. Paid cash on account to Master Supplies, $2,000.00 C3. 9. Paid cash for rent, S1,000.00 C4. 12. Received cash from sales, $1,800.T12. 15. Sold services on account to Unique Uniforms, $400.00.R2. 16. Paid cash for telephone bill, $120.00. C5 22. Received cash on account from Unique Uniforms, S400.00.R2. 25. Paid cash to owner as withdrawal of equity, $1,000.00. C6. Instructions: 1. Use page 1 of the journal to journalize the transactions. Source documents are abbreviated as follows: Check, C; memorandum, M; Receipt, R; Sales Invoice, S; Calculator Tape, T. 2. Prove and rule the journal. 3. Prove cash, the beginning cash balance on September 1 is zero. The balance on the next unused check stub is $2,080.00

Cash Misha Malnick, Capital Misha Malnick, Drawing Sales Accounts Receivable – Unique Uniforms Supplies Prepaid Insurance Accounts Payable – Master Supplies Rent Expense Utilities Expense Transactions: Sept 1. Received cash from owner as investment, $8,000.00. R1. 2. Paid cash for insurance, $2,500.00. C1 3. Bought supplies on account from Master Supplies, $2,000.00. M1. 4. Paid cash for supplies, $1,500.00. C2. 8. Paid cash on account to Master Supplies, $2,000.00 C3. 9. Paid cash for rent, S1,000.00 C4. 12. Received cash from sales, $1,800.T12. 15. Sold services on account to Unique Uniforms, $400.00.R2. 16. Paid cash for telephone bill, $120.00. C5 22. Received cash on account from Unique Uniforms, S400.00.R2. 25. Paid cash to owner as withdrawal of equity, $1,000.00. C6. Instructions: 1. Use page 1 of the journal to journalize the transactions. Source documents are abbreviated as follows: Check, C; memorandum, M; Receipt, R; Sales Invoice, S; Calculator Tape, T. 2. Prove and rule the journal. 3. Prove cash, the beginning cash balance on September 1 is zero. The balance on the next unused check stub is $2,080.00

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter3: Journalizing Transactions

Section: Chapter Questions

Problem 1CP

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