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Journalize these transactions in the general journal and then post them to the g

ID: 2428221 • Letter: J

Question

Journalize these transactions in the general journal and then post them to the general ledger.

Assets
111 Cash
125 Accounts Receivable
150 Prepaid Insurance
175 Truck
179 Accumulated Depreciation, Truck

Liabilities
211 Accounts Payable
221 Salaries Payable

Owner's Equity
T. Boss, Capital
T. Boss, Drawing

Revenues
411 Landscape Services

Expenses
511 Salaries Expense
512 Supplies Expense
513 Gasoline Expense
514 Truck Repair Expense
515 Insurance Expense
516 Depreciation Expense, Truck

Transactions during the first half of April 2011 were as follow:
April 1 Paid to renew the annual liability insurance policy for $2400, ck. no. 1105
April 4 Took the truck into Joe's Garage and charged $510 for a tune-up to get ready for "busy" season, invoice no. 627789
April 5 Provided landscape services to Tom Tucker on account for $2750, invoice No. 348
April 6 T. Boss wrote a check to himself for 1500, ck. no. 1106
April 7 Paid $800 for a bill from Organic Home Supply that was recorded in March, ck. no. 1107
April 7 Filled gas tank of the company truck at Joe's Garage on account, $125
April 8 Bought fertilizer and grass seed on account at Organic Home Supply for $245
April 9 Received $3000 on account from Mary Hawkins for services provided in March.
April 12 Received $575 cash for landscape services provided to cash customers.
April 15 Paid landscape assistant $800 for wages through April 15, ck. no. 1108

Explanation / Answer

I assumed that this is using accrual process:

General Jornal:

Date      Account and explanation                              Debit                     Credit   

04/01     Prepaid insurance                                            2400

                Account Payable                                                                              2400

                Renew liability insurance

04/04     Account Receivable                                        510

                Revenue                                                                                              510

                Perform service at Joe’s Garage

04/05     Account receivable                                         2750

                Unearned revenue                                                                         2750

                Perform service to Tom Tucker on account

04/06     Dividend                                                              1500

                Account Payable                                                                              1500

                Pay dividend for T. Boss               

04/07     Supply Expense                                                                800

                Account Payable                                                                              800

                Pay for supply in March                                                                                                                                 Gasoline Expense                                            125

                Account payable                                                                              125

                Filled gas tank in Joe’s Garage

04/08     Supply Expense                                                                245

                Account Payable                                                                             245

                Purchasing supply

04/09     Account Receivable                                        3000

                Revenue                                                                                              3000

                Performing service on March

04/12     Cash                                                                      575

                Revenue                                                                                              575

Performing service to cash customers

04/15     Salary Payable                                                   800

                Account Payable                                                                              800

Paying salary

General Ledger:

Account Payable

Date                                                      Debit                                                     Credit

04/01                                                                                                                     2400

04/06                                                                                                                     1500

04/07                                                                                                                     800

                                                                                                                                125

04/08                                                                                                                     245

04/15                                                                                                                     800

Total                                                                                                                      5870

Just do the same for the rest such as: account receivable, unearned revenue, and supply, etc.