Transactions Jardine Consulting Co. has the following accounts in its ledger: Cash, Accounts Receivable, Supplies, Office Equipment, Accounts Payable, Common Stock, Retained Earnings, Dividends, Fees Earned, Rent Expense, Advertising Expense, Utilities Expense, Miscellaneous Expense. Journalize the following selected transactions for March 2016 in a two-column journal. Journal entry explanations may be omitted. Mar. 1. Paid rent for the month, $2,500. 3. Paid advertising expense, $675. 5. Paid cash for supplies, $1,250. 6. Purchased office equipment on account, $9,500. 10. Received cash from customers on account, $16,550. 15. Paid creditor on account, $3,180. 27. Paid cash for repairs to office equipment. $540. 30. Paid telephone bill for the month. $375. 31. Fees earned and billed to customers for the month, $49,770. 31. Paid electricity bill for the month, $830. 31. Paid dividends, $1,750.

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Financial & Managerial Accounting

13th Edition
Carl Warren + 2 others
Publisher: Cengage Learning
ISBN: 9781285866307
BuyFind

Financial & Managerial Accounting

13th Edition
Carl Warren + 2 others
Publisher: Cengage Learning
ISBN: 9781285866307

Solutions

Chapter
Section
Chapter 2, Problem 2.7EX
Textbook Problem

Transactions

Jardine Consulting Co. has the following accounts in its ledger: Cash, Accounts Receivable, Supplies, Office Equipment, Accounts Payable, Common Stock, Retained Earnings, Dividends, Fees Earned, Rent Expense, Advertising Expense, Utilities Expense, Miscellaneous Expense.

Journalize the following selected transactions for March 2016 in a two-column journal. Journal entry explanations may be omitted.

Mar. 1. Paid rent for the month, $2,500.
3. Paid advertising expense, $675.
5. Paid cash for supplies, $1,250.
6. Purchased office equipment on account, $9,500.
10. Received cash from customers on account, $16,550.
15. Paid creditor on account, $3,180.
27. Paid cash for repairs to office equipment. $540.
30. Paid telephone bill for the month. $375.
31. Fees earned and billed to customers for the month, $49,770.
31. Paid electricity bill for the month, $830.
31. Paid dividends, $1,750.

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Chapter 2 Solutions

Financial & Managerial Accounting
Ch. 2 - A Rules of debit and credit and normal balances...Ch. 2 - Rules of debit and credit and normal balances...Ch. 2 - Journal entry for asset purchase Prepare a journal...Ch. 2 - Journal entry for asset purchase Prepare a journal...Ch. 2 - Journal entry for fees earned Prepare a journal...Ch. 2 - Journal entry for fees earned Prepare a journal...Ch. 2 - Journal entry for dividends Prepare a journal...Ch. 2 - Journal entry for dividends Prepare a journal...Ch. 2 - Missing amount from an account On July 1, the cash...Ch. 2 - Missing amount from an account On August 1, the...Ch. 2 - Trial balance errors For each of the following...Ch. 2 - Trial balance errors For each of the following...Ch. 2 - Correcting entries The following errors took place...Ch. 2 - Correcting entries The following errors took place...Ch. 2 - Horizontal analysis Two income statements for...Ch. 2 - Horizontal analysis Two income statements for...Ch. 2 - Chart of accounts The following accounts appeared...Ch. 2 - Chart of accounts Innerscape Interiors is owned...Ch. 2 - Chart of accounts LeadCo School is a newly...Ch. 2 - Rules of debit and credit The following table...Ch. 2 - Normal entries for accounts During the month,...Ch. 2 - Normal balances of accounts Identify each of the...Ch. 2 - Transactions Jardine Consulting Co. has the...Ch. 2 - Journalizing and posting On January 7, 2016,...Ch. 2 - Transactions and T accounts The following selected...Ch. 2 - Cash account balance During the month, Warwick Co....Ch. 2 - Account balances A. During February, 186,500 was...Ch. 2 - Retained earnings account balance As of January 1,...Ch. 2 - Identifying transactions Wyoming Tours Co. is a...Ch. 2 - Journal entries Based upon the T accounts in...Ch. 2 - Trial balance Based upon the data presented in...Ch. 2 - Trial balance The accounts in the ledger of...Ch. 2 - Effect of errors on trial balance Indicate which...Ch. 2 - Errors in trial balance The following preliminary...Ch. 2 - Effect of errors on trial balance The following...Ch. 2 - Errors in trial balance Identify the errors in the...Ch. 2 - Entries to correct errors The following errors...Ch. 2 - Entries to correct errors The following errors...Ch. 2 - Horizontal analysis of income statement The...Ch. 2 - Horizontal analysis of income statement The...Ch. 2 - Entries into T accounts and trial balance Kimberly...Ch. 2 - Journal entries and trial balance On August 1,...Ch. 2 - Journal entries and trial balance On November 1,...Ch. 2 - Journal entries and trial balance Elite Realty...Ch. 2 - Corrected trial balance The Colby Group has the...Ch. 2 - Entries into T accounts and trial balance Ken...Ch. 2 - Journal entries and trial balance On August 1,...Ch. 2 - Journal entries and trial balance On October 1,...Ch. 2 - Journal entries and trial balance Valley Realty...Ch. 2 - Corrected trial balance Tech Support Services has...Ch. 2 - The transactions completed by PS Music during June...Ch. 2 - Ethics and professional conduct in business Al the...Ch. 2 - Account for revenue Bozeman College requires...Ch. 2 - Record transactions The following discussion took...Ch. 2 - Transactions and income statement Cory Neece is...

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