The Recording Process

Selected transactions for Dianne Burke Company during its first month in business are presented below.
Sept. 1Invested $10,000 cash in the business.
5Purchased equipment for $12,000 paying $4,000 in cash and the balance on account.
25Paid $3,000 cash on balance owed for equipment.
30Withdrew $700 cash for personal use.

Burke's chart of accounts shows: No. 101 Cash, No. 157 Equipment, No. 201 Accounts Payable, No. 301 Owner's Capital, and No. 306 Owner's Drawings.


  1. Journalize the transactions on page J1 of the Journal. (Omit explanations.).
  2. Post the transactions using the standard account form.


Dianne Burke Company
Dianne Burke Company
(General Ledger)
Are you need any help? Contact Us now.

Latest Articles

« »