Ex. 200
Prepare journal entries for each of the following transactions.
1.Performed services for customers on account €6,000.
2.Purchased €20,000 of equipment on account.
3.Received €3,000 from customers in transaction 1.
4.The company paid dividends of €1,000.
Ex. 201
Glynn Company is a newly organized business. The list of accounts to be opened in the general ledger is as follows:
Accounts PayablePrepaid Insurance
Accounts ReceivablePrepaid Rent
Accumulated DepreciationRent Expense
CashSalaries and Wages Expense
Depreciation ExpenseSalaries and Wages Payable
EquipmentService Revenue
Insurance ExpenseSupplies
Share Capital-OrdinarySupplies Expense
Dividends
Instructions
Organize the accounts into the order in which they should appear in the ledger of Glynn Company and assign account numbers. Use the following system to assign account numbers.
1—199Assets
200—299Liabilities
300—399Equity
400—499Revenues
500—599Expenses