General Ledger Accounting Software

Posts Tagged ‘General’

which of the following in not normally organized in financial statement account sequence? Journal general ledger, trial balance, balance sheet

Can i Debit and credit the same account in a general journal?

I am doing an accounting project in school. We played Monopoly for 2 days and record all our transactions in General Journals, Ledgers etc. Anyway, in the game, i traded my property ( 180$ ) for someone elses property ( 220$ ) anyway, how would i record that? Would Credit my Property account 180$ and debit it 220$?

I have the transaction, “Prepared receipt 103, $2,500, received on account, Sunshine Products.” What two accounts are affected? Which one is debited, and which is credited? thank you

If so, why?

Im filling out a general ledger in college accounting & have to do a trial balance also. if anyone knows how to do this please help me. my account on the general ledger is cash, i have 90,000 under debit & the rest of them are all under credit, 9,000, 40,000, 10,000, 10,000, 150, 10,000, 10,000, 32,700, 20,000, 1,200, 6,000.. how do you figure these up to post them in the trial balance?

What do CR CD PR G S P means in accouting general ledgers?

Or do they just go automatically in the general ledger
If you knew what I was talking about you would know I’m talking about bookkeeping those are all bookkeeping terms.

A.Accounts Payable
B.Accounts Receivable
C.Allowance for Doubtful Accounts
D.Cash
E.Interest Expêns
F.Interest Revenue
G.Interest Payable
H.Interest Receivable
I.Misc. Administrative Expense
J.Notes Payable
K.Notes Receivable
L.Bad Debt Expense

Example: 0.Received the final payment on a promissory note
Dr D
Cr K, F

1-2.Recorded the adjusting entry for estimated uncollectible accounts
at the end of the fiscal period, based upon the allowance method
3-4.Wrote off the account of the bankrupt debtor (included in Allowance for Doubtful Accounts provision had been made in Question 1-2)
5-8.Recovered the bad debt written off in Question 3-4

9-10.Replaced a customer’s account receivable with a note receivable

Can you help me out for this question please?

Record the following transactions:

Jan1: Started business with 10 500 cash
Jan2 Put 9000 of the cash into bank account
Jan3 Bought goods for cash 550
Jan4 Bought goods on credit from: Tdry 500; FHood 930; MSmith 160; GLow 510
Jan5 Bought stationery on crediit from Buttons ltd 89
Jan6 Sold goods on credit to: Tong 170, Lfish 240, Msingh 326; Atom 204
Jan8 Paid rent by cheque 220
Jan10 Bought fixtures on credit from Chiefs Ltd 610
Jan 11 Paid salaries in cash 790
Jan 14 Returned goods to: Fhood 30; MSmith 42
Jan15 Bought van by cheque 6500
Jan 16 Received loan from B Barclay by cheque 2000
Jan 18 Goods returned to us by: Tong 5; MSingh 20
Jan 21 Cash sales 145
Jan 24 Sold goods on credit to: LFish 130; Atom 410; RPLeat 158
Jan 26 We paid the following by cheque: FHood 900; MSmith 118
Jan 29 Received cheques from : RPleat 158; LFish 370
Jan 30 Received a further loan from Barclay by cash 500
Jan 30 Received 614 cash from ATom

Like Open Cash a|c Dr Capital; Open capital a|c Cr Cash or in whichever format you like, only I should know what to put in each a|c.

I know I am that bad, just started accounting, never done that in my life:)

Thank you so much!!
@Zirc…Can you do that really? That would be great! Thanks a lot! (^_^)