Analyzing Accounting Transactions
Step 1
Step 2
Step 3
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Class: Thursday afternoon (7-9)
Code: 310
Group: 01
Members:
CHAPTER 2: ANALYZING TRANSACTIONS
Step 1: Journal (Original)
Journal
Page 1
Date
Description
Post.
Ref.
Debit
Credit
A
Cash
Common Stock
Exchange for common stock
17,500
17,500
B
Supplies
Accounts Payable
Purchased supplies
2,300
2,300
C
Cash
Sales Commissions
Earned receiving cash
13,300
13,300
D
Rent Expense
Cash
Paid for office and equipment for the month
3,000
3,000
E
Accounts Payable
Cash
Paid creditor
1,150
1,150
F
Dividends
Cash
Paid dividends
1,800
1,800
G
Automobile Expense
Miscellaneous Expense
Cash
Paid automobile and miscellaneous expenses for month
1,500
400
1,900
H
Office Salaries Expense
Cash
Paid office salaries
2,800
2,800
I
Supplies Expense
Supplies
Determined the cost of supplies
1,050
1,050
Step 2: Ledger (Original)
Ledger
Account
Cash
Account No.
Date
Item
Post.
Ref.
Debit
Credit
Balance
Debit
Credit
1
17,500
17,500
1
13,300
30,800
1
3,000
27,800
1
1,150
26,650
1
1,800
24,850
1
1,500
23,350
1
400
22,950
1
2,800
$20,150
Account
Supplies
Account No.
Date
Item
Post.
Ref.
Debit
Credit
Balance
Debit
Credit
1
2,300
2,300
1
1,050
$1,250
