(a) Cash 18,000 ANSWER: Common Stock 18,000 Equipment 27,000 Cash 10,000 Notes Payable 17,000 Rent Expense 2,300 Cash 2,300 Supplies 1,500 Accounts Payable 1,500 Accounts Receivable 9,800 Fees Earned 9,800 Cash 7,500 Fees Earned 7,500 Accounts Payable 1,200 Cash 1,200 Wages Expense 3,425 Cash 3,425 Cash 7,900 Accounts Receivable 7,900 (j) Dividends 1,875 1,875 Cash Challenging DIFFICULTY: Bloom's: Applying FNMN.WARD.16.02-02 - LO: 02-02 LEARNING OBJECTIVES: ACCT.ACBSP.APC.06 - Recording Transactions ACCREDITING STANDARDS: ACCT.AICPA.FN.03 - Measurement BUSPROG: Analytic On January 12, JumpStart Co. purchased $870 in office supplies. Journalize this transaction as if JumpStart paid cash. (1) Journalize this transaction as if JumpStart placed it on account. (b) (2) On January 18, JumpStart pays the amount due. Journalize this event. (a) ANSWER: Jan. 12 Office Supplies 870 Cash 870 (b)(1) Jan. 12 Office Supplies 870 Accounts Payable 870
ANSWER: (a) Cash 18,000 Common Stock 18,000 Equipment 27,000 Cash 10,000 Notes Payable 17,000 Rent Expense 2,300 Cash 2,300 Supplies 1,500 Accounts Payable 1,500 Accounts Receivable 9,800 Fees Earned 9,800 Cash 7,500 Fees Earned 7,500 Accounts Payable 1,200 Cash 1,200 Wages Expense 3,425 Cash 3,425 Cash 7,900 Accounts Receivable 7,900 (j) Dividends Cash 1,875 1,875 DIFFICULTY: Challenging Bloom's: Applying LEARNING OBJECTIVES: FNMN.WARD.16.02-02 - LO: 02-02 ACCREDITING STANDARDS: ACCT.ACBSP.APC.06 - Recording Transactions ACCT.AICPA.FN.03 - Measurement BUSPROG: Analytic On January 12, JumpStart Co. purchased $870 in office supplies. Journalize this transaction as if JumpStart paid cash. (1) Journalize this transaction as if JumpStart placed it on account. (b) (2) On January 18, JumpStart pays the amount due. Journalize this event. ANSWER: (a) Jan. 12 Office Supplies 870 Cash 870 (b)(1) Jan. 12 Office Supplies 870 Accounts Payable 870
test-bank-financial-managerial-accounting-13th-edition-warren.docx