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Exercise 2-10 (Part Level Submission)

The T-accounts below summarize the ledger of Daggett Landscaping Company at the end of the first month of operations.


Cash
No. 101
4/1

12,000

4/15

3,100

4/12

980

4/25

1,500

4/29

430

4/30

1,800

Accounts Receivable
 No. 112

4/7

2,700

4/29

430

Supplies
 No. 126

4/4

2,100

Accounts Payable
 No. 201

4/25

1,500

4/4

2,100

Unearned Service Revenue
 No. 209

4/30

1,800

Owner’s Capital
 No. 301

4/1

12,000

Service Revenue
 No. 400

4/7

2,700

4/12

980

Salaries and Wages Expense
 No. 726

4/15

3,100

(a)

Prepare the complete general journal from which the postings to Cash were made. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select “No Entry” for the account titles and enter 0 for the amounts.)

Date

Account Titles and Explanation

Debit

Credit

(Owner’s investment of cash in business)

(Received cash for services performed)

(Paid salaries to date)

(Paid creditors on account)

(Received cash in payment of account)

(Received cash for future services)

Exercise 2-12 (Part Level Submission)

Selected transactions for Dianne Burke Company during its first month in business are presented below.

Sept. 1 Invested $10,000 cash in the business.
5 Purchased equipment for $13,000 paying $3,800 in cash and the balance on account.
25 Paid $2,600 cash on balance owed for equipment.
30 Withdrew $500 cash for personal use.

Burke’s chart of accounts shows: No. 101 Cash, No. 157 Equipment, No. 201 Accounts Payable, No. 301 Owner’s Capital, and No. 306 Owner’s Drawings

(a)

Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select “No Entry” for the account titles and enter 0 for the amounts.)

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Date

 Account Titles and Explanation

 Debit

 Credit