Anonymous
Anonymous asked in Education & ReferenceHomework Help · 10 years ago

How to put these in a gerenal journal?

Step 1 Issued Check # 5347 to Dell Computer in the amount of $3,300 to purchase a new computer and printer.

Step 2 Issued Check #5348 in the amount of $2,400 to T Insurance Agency for the next 12 months' liability insurance

Step 3 Purchased $1,500 of office supplies on account from office max

Step 4 Issued check # 5349 in the amount f $1,200 to Rodriguez property Management for February's rent

Step 5 Received and deposited $1,500 payment from Sega and $2,200 payment from Microsoft on account ( for the work performed in January)

Step 6 Legal services were provided for the following clients: Ford $3,400 JJ foods $2,200; Standard $4,600; Wu consulting $3,800; Mooney farms $2,100. None of the clients has paid yet.

Step 7 Received checks from Ford (3,400)and WU ($ 3,800) on account for work performed the first week of February.

Step 8 Please issue ckeck #5350 to pay John co; (invoice #234 for $815) and check #5351 to pay Doug's Printinf Shop (Invoice # 323499 for $2,300). Both invoices were alreasy entered as accounts payable in January.

Step 8 During the second & third weeks of Feburay legal servies were priovided for Ford $3,100, Lee Labs $8845 ortega Foods $4,500 and Botique $ 3,700. Payments has not yet been received from these clients.

Step 9 Please issue check # 5352 to Office Max $1,500 (inv #22535) on account.

Step 10 Received checks from Ortega ($4,500) and Lee Labs ($845) an account.

Step 11 Please Note i wrote a personal check for $10,000

Step 12 Please issue check #5354 to yourself for $3,200 andcheck #5435 to Mark Smith the legal secretary for #3,600**** For simplicity, debit wage & salary expense $6800 and credit cash $6,800

Step 13 The $7,000 of office equipment purchased prior to february has a five-year life and $1,00 residual value. The computer and printer purchased for $3,300 have a 5-year life and a $300 salvage value.

1 Answer

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  • 10 years ago
    Favorite Answer

    Anytime you issue a check you're issuing cash. So you'll credit cash in those situations. On the opposite side you'll debit something where it's an asset account or a liability.

    Step 1: Debit Equipment, Credit Cash

    When you purchase something, the words "on account" mean Accounts Payable. Since you owe money you credit Accounts payable, and debit an asset account.

    Step 3) Debit Office supplies, credit Accounts payable

    If you received payment for work done prior, chances are you have a receivable in Accounts receivable. You need to get that amount out of there when you receive the cash.

    Step 5) debit Cash, credit accounts receivable

    Basically list all of you asset and liability accounts and read the item thoroughly.

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