Transactions are first journalized and then posted to ledger accounts. In this exercise, however,
your understanding of the relationship between the journal and the ledger is tested by asking you to
study some ledger accounts and determine the journal entries that probably were made to produce
these ledger entries. The following accounts show the first six transactions of Avenson Insurance
Company. Prepare a journal entry (including a written explanation) for each transaction.
Cash Vehicles
Nov. 1 120,000 Nov. 8 33,600 Nov. 30 9,400
Nov. 25 12,000
Nov. 30 1,400
Land Notes Payable
Nov. 8 70,000 Nov. 25 12,000 Nov. 8 95,000
Nov. 30 8,000
Building Accounts Payable
Nov. 8 58,600 Nov. 21 480 Nov. 15 3,200
Office Equipment Capital Stock
Nov. 15 3,200 Nov. 21 480 Nov. 1 120,000
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.
Read moreEach paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.
Read moreThanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.
Read moreYour email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.
Read moreBy sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.
Read more
Recent Comments