General Ledger Accounts Set up T accounts for each of the general ledger accounts needed for the following transactions. 1.Invested cash in the business, $5,000. 2.Paid office rent, $500. 3.Purchased office supplies on account, $300. 4.Received cash for services rendered (fees), $400. 5.Paid cash on account, $50. 6.Rendered services on account, $300. 7.Received cash for an amount owed by a customer, $100. Post debits and credits to the accounts. Foot the accounts and enter the balances.
General Ledger Accounts Set up T accounts for each of the general ledger accounts needed for the following transactions. 1.Invested cash in the business, $5,000. 2.Paid office rent, $500. 3.Purchased office supplies on account, $300. 4.Received cash for services rendered (fees), $400. 5.Paid cash on account, $50. 6.Rendered services on account, $300. 7.Received cash for an amount owed by a customer, $100. Post debits and credits to the accounts. Foot the accounts and enter the balances.
Century 21 Accounting General Journal
11th Edition
ISBN:9781337680059
Author:Gilbertson
Publisher:Gilbertson
Chapter2: Analyzing Transactions Into Debit And Credit Parts
Section: Chapter Questions
Problem 3AP
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General Ledger Accounts
Set up T accounts for each of the general ledger accounts needed for the following transactions.
1.Invested cash in the business, $5,000.
2.Paid office rent, $500.
3.Purchased office supplies on account, $300.
4.Received cash for services rendered (fees), $400.
5.Paid cash on account, $50.
6.Rendered services on account, $300.
7.Received cash for an amount owed by a customer, $100.
Post debits and credits to the accounts. Foot the accounts and enter the balances.
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