Question : 218. All nine transactions for Dalton Survey Company for September, the : 1239522

 

218. All nine transactions for Dalton Survey Company for September, the first month of operations, are recorded in the following T accounts: 

Cash

 

Capital Stock

(1)

20,000 

(3)

7,500

 

 

 

(1)

20,000

(7)

6,900 

(5)

2,600

 

 

 

 

 

(9)

4,700 

(6)

5,500

 

 

 

 

 

 

 

(8)

2,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accounts Receivable

 

Dividends

(4)

4,900 

(9)

4,700

 

(8)

2,000  

 

 

 

 

 

 

 

 

 

 

 

 

Supplies

 

Fees Earned

(3)

7,500

 

 

 

 

 

(4)

4,900

 

 

 

 

 

 

 

(7)

6,900

 

 

 

 

 

 

 

 

 

 

Equipment

 

Operating Expense

(2)

4,500

 

 

 

(6)

5,500

 

 

 

 

 

 

 

 

 

 

 

 

Accounts Payable

 

 

(5)

2,600

(2)

4,500

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Indicate the following for each debit and each credit: 

(a)

The type of account affected (asset, liability, equity, revenue, or expense).

(b)

The effect on the account, using + for increase and – for decrease.

 

 

Present your answers in the following form: 

 

Account Debited

Accounted Credited

Transaction

Type

Effect

Type

Effect

 

 

 

 

 

 

 

 

 

 

 

219. On January 12th, JumpStart Co. purchased $870 in office supplies. (a) Journalize this transaction as if JumpStart paid cash.(b) (1) Journalize this transaction as if JumpStart placed it on account.(b) (2) On January 18th, JumpStart pays the amount due. Journalize this event. 

 

 

 

 

 

220. On December 1st, JumpStart Company provides $2,800 in services to clients.(a) Journalize this event as if the clients had paid cash at the time the services were rendered.(b) (1) Journalize this event as if the clients had placed this on account.(b) (2) Assume that the clients paid $1,200 of the amount on account on December 30th. Journalize this transaction. 

 

 

 

 

 

221. On November 10th, JumpStart Co. provides $2,900 in services to clients. At the time of service, the clients paid $600.00 in cash and put the balance on account.(a)  Journalize this event.(b)  On November 20th, JumpStart Co. clients paid an additional $900 on their accounts due. Journalize this event.(c)  Calculate the amount of accounts receivable on November 30th. 

 

 

 

 

 

 

 

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