Pr3-4A - Problem 3-4A(90 minutes INSTRUCTOR NOTE Ledger...

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Problem 3-4A (90 minutes) INSTRUCTOR NOTE : Ledger accounts are shown at the end of Part 7 as they would appear after all entries are posted. Part 2 — Transactions for April April 1 Cash. .............................................................. 101 30,000 Computer Equipment. .................................. 167 20,000 Common Stock. ..................................... 307 50,000 Owner invested in the business. 2 Rent Expense. ............................................... 640 1,800 Cash. ....................................................... 101 1,800 Paid one month’s rent. 3 Office Supplies. ............................................. 124 1,000 Cash. ....................................................... 101 1,000 Acquired office supplies. 10 Prepaid Insurance. ........................................ 128 2,400 Cash. ....................................................... 101 2,400 Paid 12 months’ premium in advance. 14 Salaries Expense. ......................................... 622 1,600 Cash. ....................................................... 101 1,600 Paid two weeks’ salaries. 24 Cash. .............................................................. 101 8,000 Commissions Earned. ........................... 405 8,000 Collected commissions from airlines. 28 Salaries Expense. ......................................... 622 1,600 Cash. ....................................................... 101 1,600 Paid two weeks’ salaries. 29 Repairs Expense. .......................................... 684 350 Cash. ....................................................... 101 350 Repaired the computer.
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30 Telephone Expense. ..................................... 688 750 Cash. ....................................................... 101 750 Paid the telephone bill. 30 Dividends. ...................................................... 319 1,500 Cash. ....................................................... 101 1,500 Paid cash for dividends.
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Problem 3-4A ( Continued) Part 3 ADVENTURE TRAVEL Unadjusted Trial Balance April 30, 2008 No. Account Title Debit Credit 101 Cash. ......................................................... $27,000 106 Accounts receivable. ............................... 0 124 Office supplies. ........................................ 1,000 128 Prepaid insurance. ................................... 2,400 167 Computer equipment. .............................. 20,000 168 Accumulated depreciation—. ................. Computer equipment. ............................. $ 0 209 Salaries payable. ...................................... 0 307 Common stock. ........................................ 50,000 318 Retained earnings. ................................... 0 319
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This note was uploaded on 09/17/2008 for the course ACCY 201 taught by Professor ? during the Spring '07 term at Ole Miss.

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Pr3-4A - Problem 3-4A(90 minutes INSTRUCTOR NOTE Ledger...

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