Exercise 2 Journalize The Following Business Transactions In General Journal Form Identify Each Transaction By Number 1 (65.83 KiB) Viewed 13 times
Exercise 2: Journalize the following business transactions in general journal form. Identify each transaction by number. Post the transaction to T- account and Trial Balance ● Prepare an income statement and a balance sheet for the month. 1. Andrew Bird invested $35,000 cash to start an appliance repair business. 2. Hired an employee to be paid $400 per week, starting tomorrow. 3. Paid $310 rent for cash 4. Paid the worker's weekly wage. 5. Recorded revenue earned and received for the week, $1,900. General Ledger Cash 12345 Owner's Capital
Service Revenue Salaries and Wages Expense Trial Balance Income Statement Balance Sheet Assets Liabilities and Owner's Equity Revenues Service Revenue Expenses Rent Expense Salaries and Wages Expense Net income Cash Total assets Liabilities Owner's Equity Capital Net income Total liabilities and owner's equity Rent Expense debit credit
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