College Accounting—Chapter 2--QUIZ Name _____________________
A new business has been started by Laura Newton-Endicott. Her business is called Choo-Choo Cookies & Desserts, where she sells a
variety of homemade cookies and pastries. She also does some catering of desserts to local business meetings, weddings, etc. Please
complete the following transactions using the partial Chart of Accounts at the bottom of the page. Do not fill in the shaded columns.
GENERAL JOURNAL Page_______
DOC. POST.
TRANSACTION DATE ACCOUNT TITLE NO. REF.
DEBIT CREDIT
1. Laura withdraws $20,000
from her personal account
and deposits the money into
Choo-Choo
2. Laura rents store space
with oven and other baking
equipment for $4,000 month.
She pays cash for the first
month’s rent
3. Laura purchases cookie
ingredients on account,
$1000
4. Laura billed a customer
$450 for wedding cake
5. Laura collected $300
cash from customers who
came into the store
6. Laura paid the telephone
bill for the month, $50
7. Laura collected the $450
from wedding cake order (#4)
8. Laura paid on account
$500 for ingredients (#3)
9. Laura withdraws $250 for
personal use from Choo-
Choo
10. Laura receives a water
bill for $75 that she will pay
for next month (Utilities)
(Partial) CHART OF ACCOUNTS FOR CHOO-CHOO COOKIES & DESSERTS (excluding account #s):
Cash Supplies Laura Newton-Endicott, Capital Rent Expense
Accounts Receivable Ingredients Laura Newton-Endicott, Drawing Telephone Expense
Equipment Accounts Payable Sales Utilities Expense