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problem1. When a two-column (all-purpose) a revenue journal (RJ), general journal (GJ), a cash receipts journal (CR), a purchase journal (PJ) and a cash payments journal (CP) are employed indicate the journal in which each of the following transactions must be recorded:

1. Payment of the rent.

2. Purchase of supplies on an account

3. Investment of additional cash in business by owner.

4. Advance payment of one-year fire insurance policy on office

5. Adjustment to record depreciation at end of month.

6. Rendering of services for cash.

7. Rendering of services on account

8. Receipt of cash on account from customer.

9. Purchase of computer on account

10. Sale of office supplies for cash, at cost, to a neighbouring business.

11. Adjustment to record supplies used at the end of year.

12. Closing of drawing account at the end of the year.

13. Payment of the account payable.

14. Purchase of supplies for cash.

15. Owner withdrew cash

16. Adjustment to record accrued salaries at the end of period

17. Close revenue accounts at month end.

18. Company borrows money from bank.

Financial Accounting, Accounting

  • Category:- Financial Accounting
  • Reference No.:- M93825

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