Post to the ledger accounts. (Post entries in the order of journal entries prese
ID: 2591350 • Letter: P
Question
Post to the ledger accounts. (Post entries in the order of journal entries presented above.)
Cash
Accounts Receivable
Supplies
Prepaid Insurance
Prepaid Expenses
Equipment
Accounts Payable
Notes Payable
Unearned Service Revenue
Common Stock
Paid in Capital in Excess of Par
Dividends
Treasury Stock
Service Revenue
Utilities Expense
Salaries and Wages Expense
Loss on Disposal of Plant Assets
Date Account Titles and Explanation Debit Credit Feb. 1 Cash 9620 Common stock (4600 x $1.50) 6900 Additional paid-in capital 2720 (To record issue of common stock) Feb. 1 Cash 9000 Note payable 9000 (To record amount borrowed) Feb. 1 Floor cleaning equipment 3580 Window cleaning equipment 3090 Cash 6670 (To record equipment purchased) Feb. 1 Utilities expense 160 Cash 160 (To record cash paid for utilities) Feb. 3 Cleaning supplies 730 Accounts payable 730 (To record cleaning supplies purchased on account) Feb. 4 No entry 0 No entry 0 Feb. 5 Prepaid insurance 2160 Cash 2160 (To record insurance purchased for first quarter) Feb. 5 Cash 2920 Loss on disposal of assets 170 Window cleaning equipment 3090 (To record sale of equipment) Feb. 16 Accounts receivable 2890 Service revenue 2890 (To record service revenue billed) Feb. 17 Cash 432 Unearned service revenue 432 (To record advance received from customer) Feb. 18 Accounts payable 220 Cash 220 (To record payment on account) Feb. 20 Treasury stock (300 x $3) 900 Cash 900 (To record purchase of treasury stock) Feb. 23 Accounts receivable 3180 Service revenue 3180 (To record service revenue billed) Feb. 24 Salaries and wages expense 2880 Cash 2880 (To record payment of wages) Feb. 25 Cash 1850 Accounts receivable 1850 (To record collections on account) Feb. 27 Utilities expense 160 Cash 160 (To record cash paid for utilities) Feb. 28 Dividends [$0.30 x (4600 - 300)] 1290 Cash 1290 (To record dividend declared and paid)Explanation / Answer
Cash Date Account titles Debit Date Account titles Credit Feb 1. Common stock 6900 Feb 1. Floor cleaning equipment 3580 Feb 1. Additional paid-in-capital 2720 Feb 1. Window cleaning equipment 3090 Feb 1. Notes payable 9000 Feb 1. Utilities expense 160 Feb. 5 Window cleaning equipment 2920 Feb. 5 Prepaid insurance 2160 Feb. 17 Unearned service revenue 432 Feb. 18 Accounts payable 220 Feb. 25 Accounts receivable 1850 Feb. 20 Treasury stock 900 Feb. 24 Salaries and wages expense 2880 Feb. 27 Utilities expense 160 Feb. 28 Dividends 1290 Feb. 28 Balance 9382 Feb 28. 23822 23822 Accounts receivable Date Account titles Debit Date Account titles Credit Feb. 16 Service revenue 2890 Feb. 25 Cash 1850 Feb. 23 Service revenue 3180 Feb. 28 Balance 4220 6070 6070 Supplies Date Account titles Debit Date Account titles Credit Feb. 3 Accounts payable 730 Feb. 28 Balance 730 730 730 Prepaid insurance Date Account titles Debit Date Account titles Credit Feb. 5 Cash 2160 Feb. 28 Balance 2160 2160 2160 Prepaid expenses Date Account titles Debit Date Account titles Credit No transactions No transactions Equipment Date Account titles Debit Date Account titles Credit Feb. 1 Cash 6670 Feb. 5 Cash 2920 Feb. 5 Loss on disposal of assets 170 Feb. 28 Balance 3580 6670 6670 Accounts payable Date Account titles Debit Date Account titles Credit Feb. 18 Cash 220 Feb. 3 Cleaning supplies 730 Feb. 28 Balance 510 730 730 Notes payable Date Account titles Debit Date Account titles Credit Feb. 28 Balance 9000 Feb. 1 Cash 9000 9000 9000 Unearned Service Revenue Date Account titles Debit Date Account titles Credit Feb. 28 Balance 432 Feb. 17 Cash 432 432 432 Common Stock Date Account titles Debit Date Account titles Credit Feb. 28 Balance 6900 Feb. 1 Cash 6900 6900 6900 Paid in Capital in Excess of Par Date Account titles Debit Date Account titles Credit Feb. 28 Balance 2720 Feb. 1 Cash 2720 2720 2720 Dividends Date Account titles Debit Date Account titles Credit Feb. 28 Cash 1290 Feb. 28 Balance 1290 1290 1290 Treasury Stock Date Account titles Debit Date Account titles Credit Feb. 20 Cash 900 Feb. 28 Balance 900 900 900 Service Revenue Date Account titles Debit Date Account titles Credit Feb. 16 Accounts receivable 2890 Feb. 28 Balance 6070 Feb. 23 Accounts receivable 3180 6070 6070 Utilities Expense Date Account titles Debit Date Account titles Credit Feb. 1 Cash 160 Feb. 27 Cash 160 Feb. 28 Balance 320 320 320 Salaries and Wages Expense Date Account titles Debit Date Account titles Credit Feb. 24 Cash 2880 Feb. 28 Balance 2880 2880 2880 Loss on Disposal of Plant Assets Date Account titles Debit Date Account titles Credit Feb. 5 Equipment 170 Feb. 28 Balance 170 170 170