Chapter 2 Exercises - Nguyên Lý Kế Toán | Trường Đại học Tôn Đức Thắng
Principle Technology Solutions completed the following transactions during August 201N, its first month of operations: Aug 1, Received cash of $48,000 from owner Aug 2, Purchased supplies of $500 on credit Aug 4, Paid $47,000 cash for a building. Tài liệu được sưu tầm và soạn thảo dưới dạng file PDF để gửi tới các bạn sinh viên cùng tham khảo, ôn tập đầy đủ kiến thức, chuẩn bị cho các buổi học thật tốt. Mời bạn đọc đón xem!
Môn: Nguyên Lý Kế Toán (NLKTTDT) 87 tài liệu
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CHAPTER 2: RECORDING BUSINESS TRANSACTIONS
E2-4 (textbook – p.100)
The following transactions occurred for London Engineering:
Jul 2 Paid electricity and gas expense of $400.
Jul 5 Purchase equipment on credit, $2,100
Jul 10 Performed service for a client on credit, $2,000
Jul 12 Borrowed $7,000 cash, signing a bill payable.
Jul 19 Sold for $29,000 land that had cost this same amount.
Jul 21 Purchased supplies for $800 and paid cash
Jul 27 Paid the liability from 5 July. Requirement:
Journalise the preceding transactions, including the explanations.
E2-11 (textbook – p.103)
Principle Technology Solutions completed the following transactions during August
201N, its first month of operations:
Aug 1, Received cash of $48,000 from owner
Aug 2, Purchased supplies of $500 on credit
Aug 4, Paid $47,000 cash for a building
Aug 6, performed service for customers and received cash, $4,400
Aug 9, Paid $200 on accounts payable. Aug 1 ,
7 Performed service for customers on credit, $2,200 Aug 2 ,
3 Received $1,600 cash from a customer on account. Aug 3 ,
1 Paid the following expenses: salary, $1,900; rent, $700 Requirement:
Record the preceding transactions in the journal of Principle Technology Solutions.
Include an explanation for each entry. ANSWERS E2-4 Journal DATE ACCOUNTS AND EXPLANATIONS DEBIT CREDIT Jul
2 Electricity and gas expense 400 Cash 400 5 Equipment 2 100 Accounts payable 2 100 10 Accounts receivable 2 000 Service revenue 2 000 12 Cash 7 000 Note payable 7 000 19 Cash 29 000 Land 29 000 21 Supplies 800 Cash 800 27 Accounts payable 2 100 Cash 2 100 E2-11 Journal POST. DATE ACCOUNTS AND EXPLANATIONS REF. DEBIT CREDIT Aug 1 Cash 48 000 Principe, capital 48 000 Owner investment 2 Supplies 500 Accounts payable 500
Purchased supplies on account. 4 Building 47 000 Cash 47 000 Paid cash for a building. 6 Cash 4 400 Service revenue 4 400 Performed service for cash. 9 Accounts payable 200 Cash 200 Paid cash on account. 17 Accounts receivable 2 200 Service revenue 2 200 Performed service on account. 23 Cash 1 600 Accounts receivable 1 600 Received cash on account. 31 Salary expense 1 900 Rent expense 700 Cash 2 600 Paid expenses.