post the journal entries to the accounts in the general ledg…

simple very small excel file

You have the journal entries at the top. Now you must copy each debit/credit into the correct T-account boxes below, using the date + amount.

1) Post each journal entry to the T-accounts

Oct. 1

CASH (Debit side): Oct. 1 15,000
OWNERS CAPITAL (Credit side): Oct. 1 15,000

Oct. 2

No entry (leave everything blank)

Oct. 3

EQUIPMENT (Debit side): Oct. 3 1,900
ACCOUNTS PAYABLE (Credit side): Oct. 3 1,900

Oct. 6

ACCOUNTS RECEIVABLE (Debit side): Oct. 6 3,200
SERVICE REVENUE (Credit side): Oct. 6 3,200

Oct. 27

ACCOUNTS PAYABLE (Debit side): Oct. 27 700
CASH (Credit side): Oct. 27 700

Oct. 30

SALARIES AND WAGES EXPENSE (Debit side): Oct. 30 2,500
CASH (Credit side): Oct. 30 2,500

2) Which accounts stay empty?

SUPPLIES = no transactions leave blank.

3) After posting, find the ending balance for each T-account

Add the debit side, add the credit side, then subtract the smaller from the bigger.

Quick final balances

Cash: 15,000 (Dr) 700 2,500 = 11,800 Dr
Accounts Payable: 1,900 (Cr) 700 = 1,200 Cr
Accounts Receivable: 3,200 Dr
Service Revenue: 3,200 Cr
Salaries & Wages Expense: 2,500 Dr
Equipment: 1,900 Dr
Owners Capital: 15,000 Cr
Supplies: 0

For this question, you are required to post the journal entries into the correct T-accounts in the general ledger and calculate the ending balances. There is no special formula involved. You simply need to understand debit and credit rules: assets and expenses increase with debits, while liabilities, equity, and revenue increase with credits. Transfer each amount to the correct side of its account, total both sides, and find the balance by subtracting the smaller side from the larger side.

Requirements: fill the file

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