EX 2-14 journal entries

Based upon the T accounts in Exercise 2-13, prepare the nine journal entries from which the postings were made. Journal entry explanations may be omitted.

Answer:

(1) 

(2) 

(3) 

(4) 

(5) 

(6) 

(7) 

(8) 

(9) 

Cash 40,000 

Common Stock 40,000 

Supplies 2,500 

Cash 2,500 

Equipment 14,500 

Accounts Payable 10,500 

Cash 4,000 

Operating Expenses 4,850 

Cash 4,850 

Accounts Receivable 13,800 

Service Revenue 13,800 

Accounts Payable 5,500 

Cash 5,500 

Cash 8,700 

Accounts Receivable 8,700 

Operating Expenses 1,100 

Supplies 1,100 

Dividends 3,000 

Cash 3,000