- 1 60 Points Prepare Journal Entries For The Transactions For Gordon Co For The Month Of July 2021 72 Barry Gordon In 1 (38.54 KiB) Viewed 47 times
- 1 60 Points Prepare Journal Entries For The Transactions For Gordon Co For The Month Of July 2021 72 Barry Gordon In 2 (50.75 KiB) Viewed 47 times
- 1 60 Points Prepare Journal Entries For The Transactions For Gordon Co For The Month Of July 2021 72 Barry Gordon In 3 (49.18 KiB) Viewed 47 times
- 1 60 Points Prepare Journal Entries For The Transactions For Gordon Co For The Month Of July 2021 72 Barry Gordon In 4 (49 KiB) Viewed 47 times
1. (60 Points) Prepare journal entries for the transactions for Gordon Co for the month of July 2021. 72 Barry Gordon invested 30,000 to start the business 7/3 Paid 1.100 for the current month's rent 775 Purchased 1,500 of supplies on account. 7/9 Purchased advertising from Evening Joumal at a cost of 1,250 payable in 15 days. 7/15 Provided 2,000 of service to H Co collected 500 cash and balance on account 7/19 Paid for advertising purchased from the Evening Journal on 7/9 7/21 Purchased equipment from T Co. for 6,500, paid cash 1,500 and balance on account 7/24 Hired assistant at a salary of 750 per week 7/28 Received 1,000 cash advance for service to be provided in August 7/29 Received utility bill for 225 7/30 Collected accounts receivable from H Co. 7/31 Gordon withdrew 2,000 cash for personal use 7/31 Paid assistant 750 salary for the week. 2. (80 Points) Davidson
Company was started on May 1, 2021 by Jane Davidson. Using the adjusted account balances below, prepare IN GOOD FORM the Income
Statement, Owner's Equity
Statement and Balance Sheet for the month ended May 31, 2021. Advertising Expense 6,000 Accounts Payable 10,000 Accounts Receivable 15,400 Accumulated Depreciation Equipment 8,000 Cash 10,300 Depreciation Expense 14,000 Equipment 34,000 Insurance Expense 3,200 Interest Expense 2,800 Notes Payable 12,000 Prepaid Insurance 2,600 Rent Expense 3,000 Salaries Expense 39,000 Salaries Payable 7,500 Service Revenue 90,000 Miscellaneous Expense 2,000 Owner's Capital 20,000 Owner's Drawing Supplies Supplies Expense Uneamed Revenue 10,000 2.500 5,700 5,000
GENERAL JOURNAL Pag 1 Date Account Titles & Explanation Ref. Debit Credit
Owners Equity
Statement Balance Sheet
Income
Statement Owners Equity
Statement