Frank Arzillo opened Arzillo TV Repair Shop on November 1. Complete the following for Frank. a) Journalize the transactions for November 1-15. b) Post the transactions to the General Ledger. c) Prepare a Trial Balance. Use the pages in your workbook that are meant for the following question: Pg. 145 Ex. 10. You can find these pages beginning on Pg. 80 of your workbook. Use as many pages as you need. Nov. 1 Arzillo invested $25 000 cash in the business. Cheque 82. Borrowed $10 000 from Royal Bank. Purchased equipment for $4 500 (analysis kit), Cheque 1. Received $700 cash for repair services performed during the week, Cash Sales Slips 1–5. Paid $300 for advertising in the Kingston Whig Standard, Cheque 2. Purchased supplies worth $300 from Electronics Co. Ltd., Invoice 4264. Repaired a TV set for V. Milligan, who will pay the $90 fee at a later date, Invoice 1. 1 8 Paid $150 to reduce the amount owing to Electronics Co. Ltd., Cheque 3. Bought a $35 000 van for the business. Paid $10 000 as a down payment to Learn Motors, Cheque 4. The balance owing is $25 000. Received $90 from V. Milligan for Invoice 1. 10 15 24

Frank Arzillo opened Arzillo TV Repair Shop on November 1. Complete the following for Frank. a) Journalize the transactions for November 1-15. b) Post the transactions to the General Ledger. c) Prepare a Trial Balance. Use the pages in your workbook that are meant for the following question: Pg. 145 Ex. 10. You can find these pages beginning on Pg. 80 of your workbook. Use as many pages as you need. Nov. 1 Arzillo invested $25 000 cash in the business. Cheque 82. Borrowed $10 000 from Royal Bank. Purchased equipment for $4 500 (analysis kit), Cheque 1. Received $700 cash for repair services performed during the week, Cash Sales Slips 1–5. Paid $300 for advertising in the Kingston Whig Standard, Cheque 2. Purchased supplies worth $300 from Electronics Co. Ltd., Invoice 4264. Repaired a TV set for V. Milligan, who will pay the $90 fee at a later date, Invoice 1. 1 8 Paid $150 to reduce the amount owing to Electronics Co. Ltd., Cheque 3. Bought a $35 000 van for the business. Paid $10 000 as a down payment to Learn Motors, Cheque 4. The balance owing is $25 000. Received $90 from V. Milligan for Invoice 1. 10 15 24

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter11: Accounting For Transactions Using A General Journal

Section11.1: Accounting For Purchases Transactions Using A General Journal

Problem 1WT

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