Rough and Rugged began operations on November 1, 2011. The transactions for Nove

Question

Rough and Rugged began operations on November 1, 2011. The transactions for November have already been recorded and posted to the T-Accounts Record the transactions in a journal using correct journal entry format. Post the journal entries to the ledger (T-Accounts).

Nov 1- Jamie contributed capital of $16,000 to begin the company.

Nov 2- signed a leased for a building and paid $1,200 for the first month's rent.

Nov 3- purchased canoes for $4,800 on account.

Nov 4-purchased office supplies on account, 750

nov 7- earned $1,400 cash for rental of canoes.

Nov 13- paid $1,500 cash for wages.

nov 15- jamie withdrew $50 cash from the business

Nov 16-received a bill for $150 for utilities (use separate payable account).

Nov 20-received a bill for $175 for cell phone expenses. (use separate payable account.)

Nov 22- rented canoes to early start daycare on account, $3,000.

Nov 26-paid $1,000 on account related to the november 3, 2018 purchase.

Nov 28- received $750 from early start daycare for canoe rental on november 22, 2018.

Nov 30- Jamie withdrew $100 cash from the business.

Explanation / Answer

Answer 1. Adjusting Entry Date Particulars Dr. Amt. Cr. Amt. 1-Nov Cash      16,000.00 Jamie, Capital      16,000.00 (To record the capital contributed) 2-Nov Rent Expense        1,200.00    Cash        1,200.00 (To record the rent paid) 3-Nov Canoes        4,800.00    Accounts Payable        4,800.00 (To record the canoes purchased) 4-Nov Office Supplies            750.00    Accounts Payable            750.00 (To record the office supplies purchased) 7-Nov Cash        1,400.00 Rental Revenue - Canoes        1,400.00 (To record the rent revenue eatned) 13-Nov Salaries & Wages Expense        1,500.00    Cash        1,500.00 (To record the wages paid) 15-Nov Jamie, Withdrawls              50.00    Cash              50.00 (To record the cash withdrawl) 16-Nov Utilities Expense            150.00    Utilities Payable            150.00 (To record the utilities expense) 20-Nov Cell Phone Expense            175.00 Cell Phone Payable            175.00 (To record the cellphone expense) 22-Nov Accounts Receivable        3,000.00 Rental Revenue - Canoes        3,000.00 (To record the rent revenue eatned) 26-Nov Accounts Payable        1,000.00    Cash        1,000.00 (To record the cash paid) 28-Nov Cash            750.00    Accounts Receivable            750.00 (To record the cash received) 30-Nov Jamie, Withdrawls            100.00    Cash            100.00 (To record the cash withdrawl) Answer 2. Cash Accounts Receivable Office Supplies 1-Nov      16,000.00        1,200.00 2-Nov 22-Nov        3,000.00          750.00 28-Nov 4-Nov          750.00 7-Nov        1,400.00        1,500.00 13-Nov 28-Nov            750.00              50.00 15-Nov        1,000.00 26-Nov            100.00 30-Nov End. Bal.      14,300.00 End. Bal.        2,250.00 End. Bal.          750.00 Canoes Cell Phone Payable Accounts Payable 3-Nov        4,800.00          175.00 20-Nov 26-Nov      1,000.00        4,800.00 3-Nov            750.00 4-Nov End. Bal.        4,800.00 End. Bal.          175.00 End. Bal.        4,550.00 Utilities Payable Jamie, Capital Jamie, Withdrawls            150.00 16-Nov    16,000.00 1-Nov 15-Nov            50.00 30-Nov          100.00 End. Bal.            150.00 End. Bal.    16,000.00 End. Bal.          150.00 Rental Revenue - Canoes Utilities Expense Salaries & Wages Expense        1,400.00 7-Nov 16-Nov            150.00 13-Nov      1,500.00        3,000.00 22-Nov End. Bal.        4,400.00 End. Bal.            150.00 End. Bal.      1,500.00 Rent Expense Cell Phone Expense 2-Nov        1,200.00 20-Nov            175.00 End. Bal.        1,200.00 End. Bal.            175.00

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