transactions into ledger.
Q: Post these transactions into ledger.
A: Ledger account: It is used to record the business transactions that were made during a financial…
Q: Make a Ledger
A: Based on the transactions given, the ledger accounts need to be prepared. Ledger is the second step…
Q: Make a trail balance using these general ledgers.
A: Preparation of trial balance is an important step in accounting cycle process. Trial balance shows…
Q: Describe how debits and credits are used to analyse transactions.
A: Debits and credits are used to analyse transactions for changes in accounts made by one business…
Q: Journalize the transaction and post to ledger using T-account format. (Please refer to the…
A: Accounting is the process of recording, classifying and summarising accounting transactions.…
Q: Create a Closing Ledger
A: Closing entry means the entries passed at the end of specified period where all the balances of…
Q: What are the accounts written off? Explain with example?
A: Accounts written off means those debtors or accounts receivables from which money can no longer be…
Q: Answer the following: 1- Analyze the transactions based on the source documents provided using a…
A: An increase in assets and expense is recorded by debiting them respectively and any decrease is…
Q: What is the definition of a general ledger account?
A: A company's double-entry accounting system is built around the general ledger.
Q: The subsidiary ledger that includes customer account activity is called the a. asset ledger b.…
A: Under subsidiary ledger, all activities related to customer is recorded.
Q: Name the two types of ledgers.
A: Two types of ledgers are: General ledger Subsidiary ledger
Q: create t-accounts general ledger
A: T accounts preparation is the important step of accounting cycle process. These accounts are…
Q: Write up a transaction analysis chart from the given transaction.
A: The Accounting equation is a statement that shows the equality between the resources and the…
Q: The order of the steps in the recording process is: O post to the ledger, journalize and analyze. O…
A: In accounting, the recording process starts with analyzing the transactions about the nature, the…
Q: 1. Post the above transactions to T-accounts.
A: Required to fill the journal entries in various accounts
Q: The usual sequence of steps in the transaction recording process is O analyze, journalize, post to…
A: Journal is a book of entries in which all the transactions made by the company are recorded…
Q: post them in the ledger
A: T accounts are the general ledger account balances in the business, which will be used for…
Q: Categories each transaction using the correct account name
A: Introduction: Classification of account If we want to transfer the journal into ledgers then we…
Q: When does Accounts receivable are created?
A: Current assets: The assets which could be converted into cash within one year like accounts…
Q: to the accounts payable control le = ledger. unts Payable to prove the balance
A: The entries are given as,
Q: jorunalize the transactions
A: Journal entries recording is the first step in accounting cycle process, in which atleast one…
Q: is the most common form of a transaction acco
A: A transaction account is a day-to-day account into which you can deposit your wages and other…
Q: How to write a ledger
A: An accounting ledger is a bookkeeping account or record that keeps track of activities on the…
Q: make T accounts
A: T accounts are the classified accounts under which all the recorded journal entries are posted. This…
Q: Post to a ledger using the T-acvount format. B.Journalize the above transaction
A: Journal entries and Ledgers are basics of accounting
Q: Create a Ledger.
A: Ledger is a principal book that contains all the accounts such as Assets Accounts, Liabilities…
Q: If the company has a multiple trasactions, what ledger should you post the trasaction?
A: Financial accounting involves recording of financial transactions of a firm during the accounting…
Q: B. Making the entries in the ledger.
A: Ledger accounts are prepared after the journal or adjusting entries to determine the balance of each…
Q: source document of each transaction_
A: Source document is the document used for making a transaction into effect. t is used as a primary…
Q: PREPARE THE GENERAL LEDGER
A: General ledger accounts are used to post recorded transactions into appropriate accounts. These are…
Q: ARRANGE AND PREPARE A BALANCE SHEET Use a Separate Sheet an
A: Balance Sheet- Balance sheet accounts are permanent accounts, and their balances carry over to the…
Q: Describe how accounts are used to record information about the effects oftransactions?
A: Firstly the transaction are recorded in the original books i.e. Journal, when the transactions are…
Q: create a ledger
A: Bank statement: The bank passbook is only a copy of the customer's accounts in the books of bank.…
Q: Define transactions balance
A: Definition: Working capital: The measure which evaluates the ability of a company to pay off the…
Q: Activity 2 Use the information in the sum following General Ledger acco systems
A: Ledger Account The purpose of preparing the ledger account is to know the actual balance which are…
Q: CREATE YOUR OWN FORM OF “CHART OF ACCOUNTS”
A: NATURE OF BUSINESS - GARMENTS MANUFACTURING CHART OF ACCOUNTS ACCOUNT NO. ACCOUNT TITLE 1…
Q: Explain the purpose of a journal and its relationship to the ledger.
A: Financial Accounting: It refers to the process of recording the financial transactions of the…
Q: Need a ledger and a journal
A: Journal entries is a tool for recording business transactions into accounting records. Adjusting…
Q: Write down the Types of a transaction according to the Following: Application Structures Action
A: Types of transaction - 1)Based on application a) non distributed vs distributed transactions b)…
Q: what does a general ledger do?
A: The ledger seems to be a book of accounts that contains the categorized and summarised information…
Q: A ledger shows:
A: A Ledger is a Summarized Format of the Journals Posted for all the transactions related to Business.…
Q: What is the difference between an account and a ledger?
A: Difference between Account and Ledger: Meaning: Account: A record, that documents or records the…
Q: Recorde . Collecte I. Recorde account s the total e
A: Free cash flow is the money a business entity left over after paying its…
Q: e journal entry to record this transaction i
A: Cost $72,000 Less Accumulated depreciation ($48,000) Sales proceeds ($8,500) Loss on sale…
Q: Post to general ledger
A: General ledger is the ledger book in which all the respective accounts of parties as well as the…
Q: What is a sub-ledger
A: Sub - ledger means as follows
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- Lee Harris, MD, had the following balances in the ledger for his medical practice: Cash $8,830, Accounts Receivable$2,665, Supplies $565, Equiprment $15,650, Notes Payable $10,250, Accounts Payable $800. L. Harris, Capital $15,000, L. Harris,Drawings $5,180, Service Revenue $ 10.530, Rent Expense $1,220, and Salaries Expense $2,470. in July 31 and in august create a trial balance for august.Create a journal entry and a T-account entry for each of the following transactions: $30,000 worth of supplies purchased with cash $10,000 worth of supplies used to provide clients with goods and services Wages due to employees that had been previously recorded as a liability now paid in cash in the amount of $50,000 Bills submitted to insurance companies in the amount of $90,000 for services rendered to patients Cash payments of $60,000 received for services previously provided and billed $5,000 worth of additional supplies purchased on accountDuring January 2020 Orgonite Wellness Clinic completed the following transactions : Jan 1 Orgonite received $ 50,000 cash and issued common shares to shareholders 4 Purchased supplies , $ 5,000 , and equipment , $ 2,500 on account 5 Performed checkup services , and received cash , $ 2,500 7 Paid cash to acquire land for an office site , $ 25,000 11 Performed a therapy session , and billed the customer $ 2500 16 Paid for the equipment , purchased Oct 4 on account 17 Paid the telephone bill , $ 150 18 Received partial payment from client on account , $ 2000 22 Paid the water and electricity bills , $ 500 29 Received $ 5,000 cash for conducting a workshop on " Healthy Living " 31 Paid employee salary , $ 4,000 31 Declared and paid dividends of $ 4,500 Requirements : Record each transaction in the journal . Key each transaction by date . Prepare the trial balance of Orgonite , at Jan 31 , 2020 .
- List and record each transaction (in 000s) for the Claymont Outpatient Clinic, under the accrual basis of accounting, at December 31, 20X1. You are creating a General Ledger using exhibit 3-6 on page 112 as a guide. Zelman( Workbook) a. The clinic received a $10,000,000 unrestricted cash contribution from the community. b. The clinic purchased $4,500,000 of equipment using cash. c. The clinic borrowed $2,000,000 from the bank on a long-term basis. d. The clinic purchased $550,000 of supplies on credit. e. The clinic provided $8,400,000 of services on credit. f. In the provision of these services, the clinic used $420,000 of supplies. g. The clinic received $800,000 in advance to care for capitated patients. h. The clinic incurred $4,500,000 in labor expenses and paid cash for them. i. The clinic incurred $2,230,000 in general expenses and paid cash for them. j. The clinic received $6,000,000 from patients and their 3rd party payers in payment of outstanding accounts. k.…Donna Clark, D.D.S., opened a dental practice on January 1, 2022. During the first month of operations, the following transactions occurred. 1. Performed services for patients who had dental plan insurance. At January 31, $880 of such services was completed but not yet billed to the insurance companies. 2. Utility expenses incurred but not paid prior to January 31 totaled $660. 3. Purchased dental equipment on January 1 for $86,000, paying $27,000 in cash and signing a $59,000, 3-year note payable (interest is paid each December 31). The equipment depreciates $430 per month. Interest is $590 per month. 4. Purchased a 1-year malpractice insurance policy on January 1 for $22,680. 5. Purchased $1,500 of dental supplies (recorded as increase to Supplies). On January 31, determined that $500 of supplies were on hand.Construct an analysis of the following transaction and use the table: Assets = Liabilities + Owner's Equity Account title Debit Credit Account title Debit Credit Account title Debit Credit Mr. Garcia opened a medical practice, Garcia Cures. The following transactions happened in the first month of business. Date Transactions May 1 Garcia invested P30,000 cash to start his business. 2 Purchased medical supplies on account, P10,000. 2 Paid monthly office rent of P4,000. 3 Recorded P5,000 revenue for service rendered to patients: received cash of P2,000 and sent bills to patients for the remainder. 15 Borrowed P50,000 from the bank, signing a note payable 22 Performed service for patients on account, P3,600 30 Received cash from patients billed on September 3, P2,000 31 Received and paid a utility bill, P200 31 Paid monthly salary to nurses, P3,000 31 Paid interest expense of P200
- Evan Watts opened a dental practice on January 1, 2021. During the first month of operations, the following transactions occurred. 1. Watts performed services for patients totalling $2,310. These services have not yet been recorded. 2. Utility expenses incurred but not paid prior to January 31 totalled $380. 3. Purchased dental equipment on January 1 for $90,000, paying $21,400 in cash and signing a $68,600, three-year note payable. The equipment depreciates $500 per month. Interest is $640 per month. 4. Purchased a one-year malpractice insurance policy on January 1 for $10,200. 5. Purchased $2,520 of dental supplies. On January 31, determined that $810 of supplies were on hand. Prepare the adjusting entries on January 31.Carol Garcia, D.D.S., opened a dental practice on January 1, 2022. During the first month of operations, the following transactions occurred. 1. Performed services for patients who had dental plan insurance. At January 31, $880 of such services was completed but not yet billed to the insurance companies. 2. Utility expenses incurred but not paid prior to January 31 totaled $630. 3. Purchased dental equipment on January 1 for $82,000, paying $29,000 in cash and signing a $53,000, 3-year note payable (interest is paid each December 31). The equipment depreciates $410 per month. Interest is $530 per month. 4. Purchased a 1-year malpractice insurance policy on January 1 for $24,960. 5. Purchased $1,600 of dental supplies (recorded as increase to Supplies). On January 31, determined that $500 of supplies were on hand. Prepare the adjusting entries on January 31Dr. Schekter, DVM, opened a veterinary clinic on May 1, 2011. The business transactions for Mayare shown below:May 1 Dr. Schekter invested $400,000 cash in the business in exchange for 5,000 shares ofcapital stock.May 4 Land and a building were purchased for $250,000. Of this amount, $70,000 applied tothe land, and $180,000 to the building. A cash payment of $100,000 was made at thetime of the purchase, and a note payable was issued for the remaining balance.May 9 Medical instruments were purchased for $130,000 cash.May 16 Office fixtures and equipment were purchased for $50,000. Dr. Schekter paid$20,000 at the time of purchase and agreed to pay the entire remaining balancein 15 days.May 21 Office supplies expected to last several months were purchased for $5,000 cash.May 24 Dr. Schekter billed clients $2,200 for services rendered. Of this amount, $1,900 wasreceived in cash, and $300 was billed on account (due in 30 days).May 27 A $400 invoice was received for several radio…
- Jill Accardo, M.D., maintains the accounting records of Accardo Clinic on a cash basis. During 2020, Dr. Accardo collected $142,600 from her patients and paid $55,470 in expenses. At January 1, 2020, and December 31, 2020, she had accounts receivable, unearned service revenue, accrued expenses, and prepaid expenses as follows. (All long-lived assets are rented.) January 1, 2020 December 31, 2020 Accounts receivable $9,250 $15,927 Unearned service revenue 2,840 4,111 Accrued expenses 3,435 2,108 Prepaid expenses 1,917 3,232 Instructions Prepare a schedule that converts Dr. Accardo’s “excess of cash collected over cash disbursed” for the year 2020 to net income on an accrual basis for the year 2020.Create a balance sheet (in 000s) as of December 31, 20X1 for the Claymont Outpatient Clinic using the General Ledger transactions below. You will enter balances for total current assets a. The clinic received a $10,000,000 unrestricted cash contribution from the community. b. The clinic purchased $4,500,000 of equipment using cash. c. The clinic borrowed $2,000,000 from the bank on a long-term basis. d. The clinic purchased $550,000 of supplies on credit. e. The clinic provided $8,400,000 of services on credit. f. In the provision of these services, the clinic used $420,000 of supplies. g. The clinic received $800,000 in advance to care for capitated patients. h. The clinic incurred $4,500,000 in labor expenses and paid cash for them. i. The clinic incurred $2,230,000 in general expenses and paid cash for them. j. The clinic received $6,000,000 from patients and their 3rd party payers in payment of outstanding accounts. k. The clinic met $440,000 of its obligation to…On July 1, 2020, Arabi Sheikh established an interior decorating business. During the month, Arabi Sheikh completed the following transactions related to the business: July 1: Arabi transferred cash from his personal account and invested it for business use, $23000. July 10: Purchased a truck for $14400, paying $7400 cash and the remainder will be paid in the future. July 12: Paid annual premiums on property and casualty insurance (advance), $2570. July 17: Paid creditor a portion of the amount owed for truck purchased on July 10, $4510. July 20: Completed services on account and billed the customer, $7780 July 25: Received cash from customers on account, $2640. July 31: Paid salaries expense of $400 and utilities expense of $320. (a) Journalize the above transactions for the month of July (b) Prepare ledger accounts in running balance format (c) Prepare trial balance at 31 July 2020