05-02task (8)

School: Troy University, Troy - Course: HIS 101 - Subject: Accounting

5.02 Check Stubs Total Points: 70 Checks have been written out of the company's checking account.For each transaction: 1.Fill in the upper part of the check stub indicating the date, amount of check, who it was to and for what purpose 2.Complete the lower part of the check stub:From the "balance brought forward" subtract the amount of the check and enter the "balance carried forward" (and that balance is entered in "balance brought forward" on the next check stub. 3.For each transaction, indicate the account that would be debited and the account that would be credited for the transaction; use the box below the check stub to enter these account names on the correct line beside Debit or Credit; a Chart of Accounts is given. 4.The only deposit is already given on the first check stub.The first check stub is completed as an example. Transactions: 1.Check 101 for $1,000 to John Deere to purchase equipment, 11/1/20. 2.Check 102 for $500 to Hillcrest Realty to pay the rent, 11/1/20 3.Check 103 for the first installment on a truck purchased from Collins Motors, $400, 11/1/20 4.Check 104 for $125 to Verizon pay the cell phone and Internet bill, 11/3/20 5.Check 105 for $50 to the Little League for advertising, 11/4/20 6.Check 106 for $24 to Wal-Mart for supplies, 11/15/20 7.Check 107 for $215 to City Utilities to pay the utilities bill, 11/30/20 8.Check 108 for $200 to Timber Frederick, owner, for personal use 11/30/20 Partial Company Chart of Accounts (listing accounts you will use): 101Cash310Timber Frederick, Drawing 110Equipment501Advertising Expense 120Supplies502Rent Expense

201Accounts Payable, Collins Motors503Utilities Expense 504Telephone & Internet Expense Example: Transaction 1: Amount of Check-$1,000.00 Check Number-101 Date-11-1-2020 To-John Deere From-Equipment DollarsCents Balance Brought Forward15,00000 Add Deposits500000 Total500000 Less this check100000 Balance carried forward400000 Which two accounts would you use to journalize this transaction? Debit:Equipment Credit:Cash Check Stubs: Transaction 2: Amount of Check-500 Check Number-102 Date-11/1/20 To-hillcrest realty From-rent expense DollarsCents Balance Brought Forward4,00000 Add Deposits Total Less this check50000