General ledger Debit Credit Balance 01.11.20 50,000 31.12.20 Rental Revenue 6000 56,000 31.12.20 Rental Revenue 1800 57,800 01.01.21 Rental Revenue 6,000 51,800 Kindly show me the T Accounts for the above general ledger.

General ledger Debit Credit Balance 01.11.20 50,000 31.12.20 Rental Revenue 6000 56,000 31.12.20 Rental Revenue 1800 57,800 01.01.21 Rental Revenue 6,000 51,800 Kindly show me the T Accounts for the above general ledger.

Quickbooks Online Accounting

3rd Edition

ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter4: Operating Activities: Sales And Cash Receipts

Section: Chapter Questions

Problem 2.4C

See similar textbooks

Related questions

Q: Prepare the journal entry to record an uncollectible account receivable of $10,000 using the direct…

A: Accounts receivable: Accounts receivable refers to the amounts to be received within a short period…

Q: invoice dated July 27 with terms of 3/10 EOM. Determine (a) the last day of the discount period, and…

A: Generally the discount is given by the supplier in order to receive the immediate payment and create…

Q: siness and Managem -Column Worksheet using the data of EFFICIENT SERVICES as of December 31, 2021.…

A: Adjusting Entries- An adjusting journal entry is one that occurs in a company's general ledger at…

Q: Week 6 Fiona Sporty uses a purchases journal, a cash payments journal, a sales journal, a cash…

A: Special Journals : Besides the original books of accounts, there are specialized journal…

Q: PART A: Recognizing Accounts Receivable Revenue Recognition Review from chapter 3 1. Provide a good…

A: Solution Sales discount refers to the financial recording of reducing the sales price due to early…

Q: Transaction Account Titles and Explanations Debit ($) Credit ($) (i) Motor vehicle 2480…

A: Suspense account means the account which is opened when the trial balance does not agree because of…

Q: Unit 1 question 11

A: Accounts payable includes the amount which are yet to be paid by the customer and is a current…

Q: Enter a credit balance of $38,400 as of September 1, 20Y4 in the Accounts Payable general ledger…

A: Ledgers - After recording transactions in the journal next step is to transfer them into ledgers.…

Q: What is the correct answer for 3 and 4?

A: Since there are multiple questions, we will answer only the first question. If you want the…

Q: Studypug.com The T account for Unearned Rent appeared as follows after posting from the journal:…

A: Unearned rent means a rent income received in advance. As the rent do not…

Q: Arthoney Ircis trial balance cortairs the fallowing balances: Cash $535 Accounts Payable $344…

A: Introduction: Trial Balance: All the final ledger accounts balances are posted in Trial balance to…

Q: Hi, I'm having trouble with number of days sales in receivables. Can someone help me?

A: Number of days sales in receivables is computed by dividing the average account receivables by total…

Q: Accounts Receivable Subsidiary Ledger The debits and credits from two transactions are presented in…

A: Following are the description of given transactions and source of each posting:

Q: Post the following General Journal entries into the General Ledger: Hint: you may not need to fill…

A: Solution: General Ledger Cash Account Date Item Debit Credit Debit balance Credit balance…

Q: Unadjusted Adjusted Account Title Trial Balance Adjustments Trial Balance Income Statement Balance…

A: Closing Journal Entries This was doing at the end of the accounting period transfer the balances of…

Q: (a) On March 1, journalize the entry to record the write-off, assuming that the direct write-off…

A: Journal: It is a systematic record of a financial transaction recorded in a chronological order.

Q: Multiple choice 1. A list showing the amount due to each supplier as of a specified date is known as…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: On December 31, 2019, Mason Company made following proper year-end adjusting entries: 1. Prepare…

A: Journal entry shows the recording of transactions and every transaction have a dual impact that is.,…

Q: Post the transactions to T-accounts.

A: Cash A/c Date Particular Debit amount Date Particular Credit amount 12 May To Accounts…

Q: George Smyth opened a computer repair business on Apr. 1, 20--. During the first month of…

A: Journal Entries: Journal entries are recorded for all the transactions that occur during the…

Q: Pg 37 T- Accounts Please find the missing amount on the follwoing T-Account. and explain CLEARLY…

A: Compute missing debit balance and credit side balance for accounts as shown below:

Q: ANYTOWN BANK PLC Current account statement D. DHILLON Account name Account number 007457892 Branch…

Q: Event Credit Payment Interest Principal Balance $500.00 $0.00 $0.00 $500.00 Payment 1 $100.00 $7.40…

A: Credit card balance=$500 Periodic payment=$100

Q: P2,900 debit b. P300 debit a. P2,900 credit d. P300 credit C. account to net or net loss? ial…

A: There are two types of accounts maintained in the accounting books. One is temporary accounts, and…

Q: General ledgeR Casw DATE BALANCE PARTICULARS DEBIT CREDIT DEBIT CREDIT reaUre pank lpan MAntes…

A: Cash Flow Statement: It is a financial statement that summarizes cash inflows and outflows of a…

Q: GENERAL DOC. POST. GENERAL NO. REF. DEBIT CREDIT ACCOUNT TITLE M15 120 1,250.00 2 Accounts…

A: Ledger accounts are one step of accounting whereby the entries recorded in the journal are to be…

Q: Date Explanation July 31 July 31 July 31 Date Explanation July 31 July 31 Owner's Capital Debit…

A: Under closing process, all temporary accounts are being closed at the end of accounting period and…

Q: Parrish Ch 2 Pg. 39 This is a T-Account. I need to find the Ending balance. Can you show me the…

A: Step 1:When a customer sends back goods after sales are made, it is known as Sales Return. The…

Q: Most computerized accounting systems use electronic forms to record transaction information, such as…

A: Computerized accounting system: This is the system that is used by the business to record the…

Q: Account Name: ACCOUNTS PAYABLE Account No. 210 Balance Date Particulars Post Debit Credit Debit…

A: Accounts Payable refers to the account in general ledger where amount which are to be paid to…

Q: 1. Prepare an income statement. Vance Company Income Statement For Year Ended June 30, 20-- Revenue:…

A: Income statement is one of the financial statement, which shows all incomes and all expenses of the…

Q: ACCOUNTS RECEIVABLE LEDGER Account Brandon Connors Post Date Item Ref. Debit Credit Balance Mar. 1…

A: Schedule of accounts receivable is the list of customers required to pay the seller firm.

Q: ACCOUNTS RECEIVABLE LEDGER NAME: E. McKenzie ADDRESS: 4717 Erin St, Madison, WI 53713 DATE ITEM…

Q: need help finding the net payment and credit towards account still due invoice amount= $538.42…

A: 3/10,1/15, n/30 E.O.M It means the 3% discount will be received if the payment made within 10 days…

Q: TOPIC: Rules of Debit and Credit Instruction: Identify the normal balance of accounts. Choose the…

A: Explanation - Assets and expenses will be having debit balances and Liabilities and incomes will be…

Q: Purchase Equipment on account for OMR 680. The bookkeeper of Company record debited purchase OMR 680…

A: The journal entries are prepared to keep the record of day to day transactions of the business.

Q: DATE ACCOUNT TITLE DEBIT CREDIT 1| Нyve, Capital P1000 Cash P1000 10 Kit Inclusions 750 Cash 750 12…

A: The ledger accounts are prepared to post the journal entries to the specific accounts of the…

Q: Journal entry worksheet < 3 4 Record the cost of the sale, $17,400. Note: Enter debits before…

A: Recording the cost of sales increases the expense. Thus, the increase in cost of sales should be…

Q: T-Account Formulas Please provide the formulas (Typed out and not in an Excel Sheet) and answers to…

A: Hey, since there are two questions posted, we will answer only first question. If you want any…

Q: Question 2 Credit Sales, Credit Purchases & Returns You are to enter the following items in the…

A: Every business would have a certain amount of purchases and sales. These transactions are the…

Concept explainers

Credit card

A credit card is provided by financial institutions or banks, which permits a person to borrow money on a preapproved limit for purchases on a credit basis. The credit limit is decided by the institution and bank which issues a credit card depending on the person’s credit score and income. A cardholder can use the card for credit purchases, a balance transfer, cash advances.

Question

question

General ledger Debit Credit Balance

01.11.20 50,000

31.12.20 Rental Revenue 6000 56,000

31.12.20 Rental Revenue 1800 57,800

01.01.21 Rental Revenue 6,000 51,800

Kindly show me the T Accounts for the above general ledger.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step by step

Solved in 2 steps with 1 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

JOURNALIZING SALES RETURNS AND ALLOWANCES Enter the following transactions starting on page 60 of a general journal and post them to the appropriate general ledger and accounts receivable ledger accounts. Use account numbers as shown in the chapter. Beginning balance in Accounts Receivable is 3,900. Beginning balances in selected customer accounts are Adams, 850; Greene, 428; and Phillips, 1,018.
Refer to RE6-3. Assume Long records accounts receivable and sales using the net price method. Prepare the related journal entries for Long.
What should i do? Record the Contracted services of $82,500 as performed. Note: Enter debits before credits. Transaction General Journal Debit Credit 6b
Receivables turnover of 11.33 means. Provide explanation please.
Chapter 8 Questions to practice BE8-1 Presented below are three recei\ailes transactions. Indicate whether these recei\. ables are reported as accounts recei\able, notes recei\-able, or other receivables on a state- ment of6nancial position. (a) Sold merchandise on account forW64,000,000 to a customer. (b) Received a promissory note ofW57,000,000 for senicn perfonned. (c) Ad\-anced W8,000,000 to an employee.
9 - CODE AND NAME OF THE ACCOUNT WILL BE DEBT 610 RETURNS ON SALES 1.000 191 DEDUCTIBLE VAT 180 100 CASE 1180 Which process does the registration belong to?A) The customer returns the goods he receivedB) The seller returns the goodsC) Discounting to the customerD) The business returns the goods it has receivedE) Discounting on goods sold
need help finding the net payment and credit towards account still due invoice amount= $538.42 date of invoice= April 23 Date of payment= May 14 credit terms= 3/10,1/15, n/30 E.O.M Net price= ?
10.The entry to record a sale of P1,800 with terms of 2/10, n/30 will include a a. debit to Sales Discounts for P36. b. debit to Sales Revenue for P1,764. c. credit to Accounts Receivable for P1,800 d. credit to Sales Revenue for P1,800
Brickman’s ending balance of Accounts Receivable is $19,500. Use the data in the preceding question to compute the net realizable value of Accounts Receivable at year-end. $16,800 $19,500 $17,400 $17,900
A credit memorandum results in a(n) ___ in a customers accounts receivable file. A. memo B. decrease C. Transer D. Increase
BUS 038 : Business Computatns10. You purchase goods on an invoice dated July 27 with terms of 3/10 EOM. Determine (a) the last day of the discount period, and (b) the last day of the credit period.
GENERAL JOURNAL Page 52 DATE DESCRIPTION POST.REF. DEBIT CREDIT 1 20-- 1 2 August 16 Sales Returns and Allowances 412 286.42 2 3 Accounts Receivable, F. E. Dixon 113/✓ 286.42 3 4 Issued credit memo no. 131. 4 5 5 Post the entry above to this general ledger account. If an amount box does not require an entry, leave it blank. Round your answers to the nearest cent. GENERAL LEDGER ACCOUNT Accounts Receivable ACCOUNT NO. 113 DATE ITEM POST.REF. DEBIT CREDIT BALANCE DEBIT CREDIT 20-- August 1 Balance ✓ 5,214.36 16 J52 286.42 4927.94 Post the entry above to this general ledger account. If an amount box does not require an entry, leave it blank. Round your answers to the nearest cent. GENERAL LEDGER ACCOUNT Sales Returns and Allowances ACCOUNT NO. 412 DATE ITEM POST.REF. DEBIT…