General Ledger Layout Essay

759 words - 4 pages

Chapter 04 - Preparing the General Journal and General Ledger

Problem 4-2A (90 minutes) Part 1
Mar. 1 Cash.............................................................101 150,000 Office Equipment........................................163 22,000 K. Reese, Capital ................................301
Owner invested cash and equipment.

172,000

2

Prepaid Rent ...............................................131 Cash .....................................................101
Prepaid six months’ rent.

6,000 6,000 3,000 1,200 4,200 4,000 4,000 7,500 7,500 4,200 4,200 5,000 5,000 3,500 3,500 3,820 3,820 5,100 5,100 600 600 500 500

3

Office ...view middle of the document...

................................................101
Owner withdrew cash for personal use.

30

Office Supplies ...........................................124 Accounts Payable ...............................201
Purchased supplies on account.

31

Utilities Expense.........................................690 Cash .....................................................101
Paid monthly utility bill.

4-19

Chapter 04 - Preparing the General Journal and General Ledger

Problem 4-2A (Continued) Part 2 Date Mar. Explanation 1 2 6 12 19 22 29 31 Cash PR G1 G1 G1 G1 G1 G1 G1 G1 Debit 150,000 4,000 3,500 Acct. No. 101 Credit Balance 150,000 6,000 144,000 148,000 4,200 143,800 5,000 138,800 142,300 5,100 137,200 500 136,700 Acct. No. 106 Credit Balance 7,500 3,500 4,000 7,820 Acct. No. 124 Credit Balance 1,200 1,800 Acct. No. 128 Credit Balance 5,000 Acct. No. 131 Credit Balance 6,000 Acct. No. 163 Credit Balance 22,000 25,000

Date Mar.

9 22 25

Accounts Receivable Explanation PR Debit G1 7,500 G1 G1 3,820 Office Supplies Explanation PR G1 G1 Prepaid Insurance Explanation PR G1 Prepaid Rent Explanation PR G1 Office Equipment Explanation PR G1 G1

Date Mar.

3 30

Debit 1,200 600

Date Mar.

19

Debit 5,000

Date Mar.

2

Debit 6,000

Date Mar.

1 3

Debit 22,000 3,000

4-20

Chapter 04 - Preparing the General Journal and General Ledger

Problem 4-2A (Continued) Accounts Payable Explanation PR G1 G1 G1
K. Reese, Capital Explanation PR G1 K. Reese, Withdrawals Explanation PR G1

Date Mar.

Debit 4,200

3 12 30

Acct. No. 201 Credit Balance 4,200 4,200 0 600 600 Acct. No. 301 Credit Balance 172,000 172,000 Acct. No. 302 Credit Balance 5,100 Acct. No. 403 Credit Balance 4,000 4,000 7,500 11,500 3,820 15,320 Acct. No. 690 Credit Balance 500

Date Mar.

Debit

1

Date Mar.

29

Debit 5,100

Date Mar.

6 9 25

Services Revenue Explanation PR G1 G1 G1 Utilities Expense Explanation PR G1

Debit

Date Mar.

31

Debit 500

4-21

Chapter 04 - Preparing the General Journal and General Ledger

Problem 4-2A (Concluded) Part 3 COUGAR CONSULTING Trial Balance March 31, 2014 Debit Cash .........................................................................

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