How to make a Journal Spreadsheet with the given information? 1...

50.1K

Verified Solution

Question

Accounting

How to make a Journal Spreadsheet with the given information?

1 Aaron Hideaway invested $15,000 and a truck, with a market value of $3,000, in the business.

2 The business paid $4,000 to Pleasant Properties for November through February rent. (Hint: Debit Prepaid Rent.)

3 Paid $4,800 for a business insurance policy for the term November 1, 2019, through October 31, 2020. (Hint: Debit Prepaid Insurance.)

4 Purchased cleaning supplies on account, $320.

5 Purchased on account an industrial vacuum cleaner costing $1,500. The invoice is payable November 25.

7 Paid $3,900 for a computer and printer.

9 Performed cleaning services on account in the amount of $4,700.

10 Received $200 for services rendered on November 9.

15 Paid employees, $400.

16 Received $15,000 for a 1-year contract beginning November 16 for cleaning services to be provided. Contract begins November 16, 2019, and ends

November 15, 2020. (Hint: Credit Unearned Revenue.)

17 Provided cleaning services and received $400 cash.

18 Received a utility bill for $175 with a due date of December 4, 2019.

20 Borrowed $36,000 from bank and signed a note payable with interest rate of 6% per year.

21 Received $500 on account for services performed on November 9.

25 Paid $750 on account for vacuum cleaner purchased on November 5.

29 Paid $200 for advertising.

30 Aaron Hideaway withdrew cash of $1,400 from the business.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students