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Journalizing transactions and prov Jill Statsholt owns a service business called Jill's Car Wash, which uses the following accounts: Accts. Pay-Long Supplies Jill Statsholt, Capital Jill Statsholt, Drawing Sales Advertising Expense Cash Accts. Rec-David's Limos Supplies Prepaid Insurance Accts. Pay-Akita Supplies Miscellaneous Expens Rent Expense Repair Expense Utilities Expense Transactions: June 1. Received cash from owner as an investment, $17,500.00. R1. 2. Paid cash for rent, $400.00. Ci. 3. Paid cash for supplies, $1,200.00, C2. 4. Bought supplies on account from Akita Supplies, $2,000.00. M1. 5. Paid cash for insurance, $4,500.00. C3. 8. Paid cash on account to Akita Supplies, $1,500.00. C4. 8. Received cash from sales, $750.00. T8. 8. Sold services on account to David's Limos, $200.00. S1. 9. Paid cash for electric bill, $75.00. C5. 10. Paid cash for miscellaneous expense, $7.00. C6. 10. Received cash from sales, $750.00. T10. 11. Paid cash for repairs, $100.00. C7. 11. Received cash from sales, $850.00. T11. 12. Received cash from sales, $700.00. T12. 15. Paid cash to owner for personal use, $350.00. C8. 15. Received cash from sales, $750.00. T15. 16. Paid cash for supplies, $1,500.00. C9. 17. Received cash on account from David's Limos, $200.00. R2. 17. Bought supplies on account from Long Supplies, $750.00. M2.

Journalizing transactions and prov Jill Statsholt owns a service business called Jill's Car Wash, which uses the following accounts: Accts. Pay-Long Supplies Jill Statsholt, Capital Jill Statsholt, Drawing Sales Advertising Expense Cash Accts. Rec-David's Limos Supplies Prepaid Insurance Accts. Pay-Akita Supplies Miscellaneous Expens Rent Expense Repair Expense Utilities Expense Transactions: June 1. Received cash from owner as an investment, $17,500.00. R1. 2. Paid cash for rent, $400.00. Ci. 3. Paid cash for supplies, $1,200.00, C2. 4. Bought supplies on account from Akita Supplies, $2,000.00. M1. 5. Paid cash for insurance, $4,500.00. C3. 8. Paid cash on account to Akita Supplies, $1,500.00. C4. 8. Received cash from sales, $750.00. T8. 8. Sold services on account to David's Limos, $200.00. S1. 9. Paid cash for electric bill, $75.00. C5. 10. Paid cash for miscellaneous expense, $7.00. C6. 10. Received cash from sales, $750.00. T10. 11. Paid cash for repairs, $100.00. C7. 11. Received cash from sales, $850.00. T11. 12. Received cash from sales, $700.00. T12. 15. Paid cash to owner for personal use, $350.00. C8. 15. Received cash from sales, $750.00. T15. 16. Paid cash for supplies, $1,500.00. C9. 17. Received cash on account from David's Limos, $200.00. R2. 17. Bought supplies on account from Long Supplies, $750.00. M2.

Financial Accounting: The Impact on Decision Makers
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter7: Receivables And Investments
Section: Chapter Questions
Problem 7.9E
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Apr 4 Wrote Check No. 2 for 5. Purchased supplies for $50.00 over the phon check next week. Memo. No. 1. 11. Sent Check No. 3 to Western Supplies, $.50.00. 12. Sent a check for the electricity bill, $65.00. Check No. 4. 15. Wrote a $850.00 check to Mr. Bonnocofti for personal use. Used Check No. 5. 16. Sold services for $259.00 to Leon Quarve, who agreed to pay for them within 10 days. Sales Invoice No. 1 17. Recorded cash sales of $1,668.00. 18. Paid $50.00 for advertising. Wrote Check No. 6. 25. Received $259.00 from Leon Quarve for the services performed last week. Wrote Receipt No. 2. Journalize the transactions completed during April of the current year. Use page 1 of the journal given in the Working Papers. Remember to enter source document numbers as necessary. Instructions: MASTERY PROBLEM 4-6 Journalizing transactions and proving and ruling a journal Jill Statsholt owns a service business called Jill's Car Wash, which uses the following accounts: Accts. Pay.Long Supplies Jill Statsholt, Capital Jill Statsholt, Drawing Sales Advertising Expense Miscellaneous Expense Rent Expense Repair Expense Utilities Expense Cash Accts. Rec.-David's Limos Supplies Prepaid Insurance Accts. Pay.-Akita Supplies ons Transactions: June 1. Received cash from owner as an investment, $17,500.00, R1. 2. Paid cash for rent, $400.00. CI. 3. Paid cash for supplies, $1,200.00. C2. 4. Bought supplies on account from Akita Supplies, $2,000.00. M1. 5. Paid cash for insurance, $4,500.00. C3. 8. Paid cash on account to Akita Supplies, $1,500.00, C4. 8. Received cash from sales, $750.00. T8. 8. Sold services on account to David's Limos, $200.00. S1. 9. Paid cash for electric bill, $75.00. C5. 10. Paid cash for miscellaneous expense, $7.00. C6. 10. Received cash from sales, $750.00. T10. 11. Paid cash for repairs, $100.00. C7. 11. Received cash from sales, $850.00. T11. 12. Received cash from sales, $700.00. T12. 15. Paid cash to owner for personal use, $350.00. C8. 15. Received cash from sales, $750.00. T15. 16. Paid cash for supplies, $1,500.00. C9. 17. Received cash on account from David's Limos, $200.00. R2. 17. Bought supplies on account from Long Supplies, $750.00. M2. I chea CHAPTER 4 Journalizing Transaction
Transcribed Image Text:Apr 4 Wrote Check No. 2 for 5. Purchased supplies for $50.00 over the phon check next week. Memo. No. 1. 11. Sent Check No. 3 to Western Supplies, $.50.00. 12. Sent a check for the electricity bill, $65.00. Check No. 4. 15. Wrote a $850.00 check to Mr. Bonnocofti for personal use. Used Check No. 5. 16. Sold services for $259.00 to Leon Quarve, who agreed to pay for them within 10 days. Sales Invoice No. 1 17. Recorded cash sales of $1,668.00. 18. Paid $50.00 for advertising. Wrote Check No. 6. 25. Received $259.00 from Leon Quarve for the services performed last week. Wrote Receipt No. 2. Journalize the transactions completed during April of the current year. Use page 1 of the journal given in the Working Papers. Remember to enter source document numbers as necessary. Instructions: MASTERY PROBLEM 4-6 Journalizing transactions and proving and ruling a journal Jill Statsholt owns a service business called Jill's Car Wash, which uses the following accounts: Accts. Pay.Long Supplies Jill Statsholt, Capital Jill Statsholt, Drawing Sales Advertising Expense Miscellaneous Expense Rent Expense Repair Expense Utilities Expense Cash Accts. Rec.-David's Limos Supplies Prepaid Insurance Accts. Pay.-Akita Supplies ons Transactions: June 1. Received cash from owner as an investment, $17,500.00, R1. 2. Paid cash for rent, $400.00. CI. 3. Paid cash for supplies, $1,200.00. C2. 4. Bought supplies on account from Akita Supplies, $2,000.00. M1. 5. Paid cash for insurance, $4,500.00. C3. 8. Paid cash on account to Akita Supplies, $1,500.00, C4. 8. Received cash from sales, $750.00. T8. 8. Sold services on account to David's Limos, $200.00. S1. 9. Paid cash for electric bill, $75.00. C5. 10. Paid cash for miscellaneous expense, $7.00. C6. 10. Received cash from sales, $750.00. T10. 11. Paid cash for repairs, $100.00. C7. 11. Received cash from sales, $850.00. T11. 12. Received cash from sales, $700.00. T12. 15. Paid cash to owner for personal use, $350.00. C8. 15. Received cash from sales, $750.00. T15. 16. Paid cash for supplies, $1,500.00. C9. 17. Received cash on account from David's Limos, $200.00. R2. 17. Bought supplies on account from Long Supplies, $750.00. M2. I chea CHAPTER 4 Journalizing Transaction
June 17. Received cash from sales, $600.00. T17. 18. Received cash from sales, $800.00. T18. 19. Received cash from sales, $750.00. T19. 22. Bought supplies on account from Long Supplies, $80.00. M3. 22. Received cash from sales, $700.00. T22. 23. Paid cash for advertising, $130.00. C10. 23. Sold services on account to David's Limos, $650.00. S2. 24. Paid cash for telephone bill, $60.00. C11. 24. Received cash from sales, $600.00. T24. 25. Received cash from sales, $550.00. T25. 26. Paid cash for supplies, $70.00. C12. 26. Received cash from sales, $600.00. T26. 29. Received cash on account from David's Limos, $650.00, R3. 30. Paid cash to owner for personal use, $375.00. C13. 30. Received cash from sales, $800.00. T30. Instructions: 1. The journals for Jill's Car Wash are given in the Working Papers. Use page 1 of the journal to journalize the transactions for June 1 through June 19. Source documents are abbreviated as follows: check, C; memorandum, M; receipt, R; sales invoice, S; calculator tape, T. 2. Prove and rule page 1 of the journal. Carry the column totals forward to page 2 of the journal. 3. Use page 2 of the journal to journalize the transactions for the remainder of June. 4. Prove page 2 of the journal. 5. Prove cash, The beginning cash balance on June 1 is zero. The balance on the next unused check stub is $17,283.00. 6. Rule page 2 of the journal. GLLAL
Transcribed Image Text:June 17. Received cash from sales, $600.00. T17. 18. Received cash from sales, $800.00. T18. 19. Received cash from sales, $750.00. T19. 22. Bought supplies on account from Long Supplies, $80.00. M3. 22. Received cash from sales, $700.00. T22. 23. Paid cash for advertising, $130.00. C10. 23. Sold services on account to David's Limos, $650.00. S2. 24. Paid cash for telephone bill, $60.00. C11. 24. Received cash from sales, $600.00. T24. 25. Received cash from sales, $550.00. T25. 26. Paid cash for supplies, $70.00. C12. 26. Received cash from sales, $600.00. T26. 29. Received cash on account from David's Limos, $650.00, R3. 30. Paid cash to owner for personal use, $375.00. C13. 30. Received cash from sales, $800.00. T30. Instructions: 1. The journals for Jill's Car Wash are given in the Working Papers. Use page 1 of the journal to journalize the transactions for June 1 through June 19. Source documents are abbreviated as follows: check, C; memorandum, M; receipt, R; sales invoice, S; calculator tape, T. 2. Prove and rule page 1 of the journal. Carry the column totals forward to page 2 of the journal. 3. Use page 2 of the journal to journalize the transactions for the remainder of June. 4. Prove page 2 of the journal. 5. Prove cash, The beginning cash balance on June 1 is zero. The balance on the next unused check stub is $17,283.00. 6. Rule page 2 of the journal. GLLAL
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