Assignment Qs 1 - Journalization and Posting
Assignment Qs 1 - Journalization and Posting
Assignment Qs 1 - Journalization and Posting
Alma’s Payroll Services Company entered into the following transactions during May 2017.
4. Performed payroll services for Magic Construction Company for $2,500 cash.
5. Paid Northern Ohio Power Co. $7,000 cash for energy usage in May.
Prepare journal entries in the General Journal and post the entries to the General Ledger.
Question 2
Joan Robinson opens her own law office on July 1, 2017. During the first month of operations, the
following transactions occurred.
7. Paid monthly expenses: salaries and wages $500, utilities $300, and advertising $100.
Prepare journal entries in the General Journal and post the entries to the General Ledger.
Question 3
Transactions made by M. Alberti and Co., a law firm, for the month of March are shown below.
2. The company received $20,000 in cash from customers who had been billed for services (in
transaction 1).
3. The company received a bill for $2,300 of advertising but will not pay it until a later date.
4. M. Alberti withdrew $3,600 cash from the business for personal use.
Prepare journal entries in the General Journal and post the entries to the General Ledger.