Post these transactions from each General Journal into the General Ledger accounts. When posting transactions to the general ledger, use the transaction letters a, b, c, d, or e as the description for each entry. Also, the dates must be entered in the format dd/mmm (ie, 15/Jan). Date3/May CashSuppliesShare Capital(a)4/May CashGeneral JournalAccount/ExplanationSupplies(b)8/May SuppliesCash(c)12/May SuppliesAccounts Payable(d)17/May CashRent Earned(e)FPage GJ6Debit Credit20,0005,0002,40050080080025,0002,400500800800Cash Account No. 101Date Desc. F Debit Credit BalanceAccounts Payable Account No. 201Date Desc. F Debit Credit BalanceShare Capital Account No. 301Date Desc. F Debit Credit BalanceSupplies Account No. 126Date Desc. F Debit Credit BalanceRent Earned Account No. 406Date Desc. F| Debit Credit Balance Office Supplies Expense Account No. 650Date Desc. F Debit Credit Balance

The T-accounts are prepared by posting the transactions from Journal to specific accounts of the…

Date 3/May Cash Supplies Share Capital (a) 4/May Cash General Journal Account/Explanation Supplies (b) 8/May Supplies Cash (c) 12/May Supplies Accounts Payable (d) 17/May Cash Rent Earned (e) F Debit 20,000 5,000 2,400 500 800 800 Page GJ6 Credit 25,000 2,400 500 800 800

Date 3/May Cash Supplies Share Capital (a) 4/May Cash General Journal Account/Explanation Supplies (b) 8/May Supplies Cash (c) 12/May Supplies Accounts Payable (d) 17/May Cash Rent Earned (e) F Debit 20,000 5,000 2,400 500 800 800 Page GJ6 Credit 25,000 2,400 500 800 800

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter12: Fainancial Statement Analysis

Section: Chapter Questions

Problem 16MCQ

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Question

Post these transactions from each General Journal into the General Ledger accounts.

When posting transactions to the general ledger, use the transaction letters a, b, c, d, or e as the description for each entry. Also, the dates must be entered in the format dd/mmm (ie, 15/Jan).

Date
3/May Cash
Supplies
Share Capital
(a)
4/May Cash
General Journal
Account/Explanation
Supplies
(b)
8/May Supplies
Cash
(c)
12/May Supplies
Accounts Payable
(d)
17/May Cash
Rent Earned
(e)
F
Page GJ6
Debit Credit
20,000
5,000
2,400
500
800
800
25,000
2,400
500
800
800
Cash Account No. 101
Date Desc. F Debit Credit Balance
Accounts Payable Account No. 201
Date Desc. F Debit Credit Balance
Share Capital Account No. 301
Date Desc. F Debit Credit Balance
Supplies Account No. 126
Date Desc. F Debit Credit Balance
Rent Earned Account No. 406
Date Desc. F| Debit Credit Balance

Office Supplies Expense Account No. 650
Date Desc. F Debit Credit Balance

Definition Definition Act of publishing journal entries in their respective general ledger accounts to create a consolidated view of an account. At the end of the fiscal year, ledger accounts are balanced and account balances in every ledger are consolidated together to create the trial balance.

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