Please create a GENERAL LEDGER for the month of OCTOBER ONLY. Maintain a running balance for...

3.6 Ratings (504 Votes)

Date	Accounts and Explanation	Debit	Credit

Oct 1	Cash	$45,000
	Computer System	$20,000
	Office Equipment	$8,000
	Common Stock		$73,000
	(To record exchange of common stock)

Oct 2	Prepaid Rent	$3,300
	Cash		$3,300
	(To record paid prepaid rent)

Oct 3	Computer supplies	$1,420
	Accounts Payable		$1,420

Oct 5	Prepaid Insurance	$2,220
	Cash		$2,220
	(To record paid prepaid insurance)

Oct 6	Accounts Receivable	$4,800
	Service Revenue		$4,800

Oct 8	Accounts Payable	$1,420
	Cash		$1,420

Oct 10	No Entry	-
	No Entry		-

Oct 12	Accounts Receivable	$1,400
	Service Revenue		$1,400

Oct 15	Cash	$4,800
	Accounts Receivable		$4,800

Oct 17	Repair and Maintenance	$805
	Cash		$805

Oct 20	Advertisements Expense	$1,728
	Cash		$1,728

Oct 22	Cash	$1,400
	Accounts Receivable		$1,400

Oct 28	Accounts Receivable	$5,208
	Service Revenue		$5,208

Oct 31	Wages Expense	$875
	Cash		$875

Oct 31	Dividends	$3,600
	Cash		$3,600

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Oct.	1	S. Rey invested $45,000 cash, a $20,000 computer system, and$8,000 of office equipment in the company in exchange for itscommon stock.
	2	The company paid $3,300 cash for four months’ rent. (Hint:Debit Prepaid Rent for $3,300.)
	3	The company purchased $1,420 of computer supplies on credit fromHarris Office Products.
	5	The company paid $2,220 cash for one year’s premium on aproperty and liability insurance policy. (Hint: DebitPrepaid Insurance for $2,220.)
	6	The company billed Easy Leasing $4,800 for services performed ininstalling a new Web server.
	8	The company paid $1,420 cash for the computer supplies purchasedfrom Harris Office Products on October 3.
	10	The company hired Lyn Addie as a part-time assistant for $125 perday, as needed.
	12	The company billed Easy Leasing another $1,400 for servicesperformed.
	15	The company received $4,800 cash from Easy Leasing as partialpayment on its account.
	17	The company paid $805 cash to repair computer equipment that wasdamaged when moving it.
	20	The company paid $1,728 cash for advertisements published in thelocal newspaper.
	22	The company received $1,400 cash from Easy Leasing on itsaccount.
	28	The company billed IFM Company $5,208 for services performed.
	31	The company paid $875 cash for Lyn Addie's wages for seven days'work.
	31	The company paid $3,600 cash in dividends.

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