Bob Sample

logistic_guy

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Bob Sample opened the Campus Laundromat on September \(\displaystyle 1, 2017\). During the first month of operations, the following transactions occurred.

\(\displaystyle \bold{1.}\) Bob invested \(\displaystyle \$ 20,000\) cash in the business.
\(\displaystyle \bold{2.}\) The company paid \(\displaystyle \$ 1,000\) cash for store rent for September.
\(\displaystyle \bold{3.}\) Purchased washers and dryers for \(\displaystyle \$ 25,000\), paying \(\displaystyle \$ 10,000\) in cash and signing a \(\displaystyle \$ 15,000, 6\)-month, \(\displaystyle 12\%\) note payable.
\(\displaystyle \bold{4.}\) Paid \(\displaystyle \$ 1,200\) for a one-year accident insurance policy.
\(\displaystyle \bold{10.}\) Received a bill from the Daily News for online advertising of the opening of the laundromat \(\displaystyle \$ 200\).
\(\displaystyle \bold{20.}\) Bob withdrew \(\displaystyle \$ 700\) cash for personal use.
\(\displaystyle \bold{30.}\) The company determined that cash receipts for laundry services for the month were \(\displaystyle \$ 6,200\).

The chart of accounts for the company is the same as that for Pioneer Advertising plus \(\displaystyle \text{No.} \ 610\) Advertising Expense.

Instructions

\(\displaystyle \bold{(a)}\) Journalize the September transactions. (Use \(\displaystyle \text{J1}\) for the journal page number.)
\(\displaystyle \bold{(b)}\) Open ledger accounts and post the September transactions.
\(\displaystyle \bold{(c)}\) Prepare a trial balance at September \(\displaystyle 30, 2017\).

Pioneer.png
 
\(\displaystyle \bold{1.}\) Bob invested \(\displaystyle \$ 20,000\) cash in the business.
\(\displaystyle \textbf{General Journal} \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \bold{J1}\)​
Date​
Account​
Ref.​
Debit​
Credit​
1
Cash​
101​
20,000​
Owner's Capital​
301​
20,000​
 
\(\displaystyle \bold{2.}\) The company paid \(\displaystyle \$ 1,000\) cash for store rent for September.
Date​
Account​
Ref.​
Debit​
Credit​
2
Rent Expense​
729​
1,000​
Cash​
101​
1,000​
 
\(\displaystyle \bold{3.}\) Purchased washers and dryers for \(\displaystyle \$ 25,000\), paying \(\displaystyle \$ 10,000\) in cash and signing a \(\displaystyle \$ 15,000, 6\)-month, \(\displaystyle 12\%\) note payable.
Date​
Account​
Ref.​
Debit​
Credit​
3
Equipment​
157​
25,000​
Cash​
101​
10,000​
Notes Payable​
200​
15,000​
 
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