COMMON STOCK Account No 31 Debit Credit Balance Date Item Debit Credit Jan 31

Common stock account no 31 debit credit balance date

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COMMON STOCK Account No. 31 Debit Credit Balance Date Item Debit Credit Jan. 31 Balance 30,400 Feb. 15 J5 8,500 38,900 DIVIDENDS Account No. 33 Debit Credit Balance Post. Ref. Post. Ref. Post. Ref. Post. Ref. Post. Ref. Post. Ref. Post. Ref. Post. Ref. Post. Ref. Post.
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Date Item Debit Credit Debit Credit Feb. 20 J5 2,200 2,200 SERVICE REVENUE Account No. 41 Debit Credit Balance Date Item Debit Credit Feb. 8 J5 4,600 4,600 Feb. 21 J5 2,300 6,900 SALARIES EXPENSE Account No. 51 Debit Credit Balance Date Item Debit Credit Feb. 28 J5 1,600 1,600 RENT EXPENSE Account No. 52 Debit Credit Balance Date Item Debit Credit Feb. 27 J5 500 500 Requirement 4 SAM MITCHELL, CPA Trial Balance February 28, 2015 Acct. No. Account Title Balance Debit Credit 11 Cash $ 9,900 12 Accounts Receivable 8,800 13 Office Supplies 1,500 14 Furniture 3,000 15 Automobile 8,500 16 Land 17,000 21 Accounts Payable $ 6,200 22 Unearned Revenue 1,000 31 Common Stock 38,900 33 Dividends 2,200 41 Service Revenue 6,900 51 Salaries Expense 1,600 52 Rent Expense 500 Total $ 53,000 $ 53,000 Ref. Post. Ref. Post. Ref. Post. Ref.
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Solution: SMART TOTS CHILD CARE Trial Balance August 31, 2015 Account Title Balance Debit Credit Cash $ 10,100 Accounts Receivable 15,000 Office Supplies 1,700 Prepaid Insurance 3,200 Equipment 78,500 Accounts Payable $ 4,000 Notes Payable 50,000 Common Stock 51,700 Dividends 2,600 Service Revenue 9,700 Salaries Expense 3,400 Rent Expense 500 Advertising Expense 400 Total $ 115,400 $ 115,400 Explanations: h.Service Revenue should increase by $5,000.i.Prepaid Insurance should increase by $2,400 ($1,200 × 2).Prepare the corrected trial balance as of August 31, 2015. Journal entries are not required.
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P2-34A Solution: TREASURE HUNT EXPLORATION COMPANY Trial Balance February 28, 2015 Account Title Balance Debit Credit Cash $ 1,300 Accounts Receivable 6,360 Office Supplies 1,300 Computers 16,490 Exploration Equipment 49,000 Accounts Payable $ 3,700 Notes Payable 18,500 Common Stock 50,000 Dividends 4,000 Service Revenue 10,900 Salaries Expense 1,400 Rent Expense 1,480 Advertising Expense 900 Utilities Expense 870 Total $ 83,100 $ 83,100 Explanations: b. Increase Rent Expense by $680 ($340 × 2). c. Increase Service Revenue by $6,800. d. Increase Accounts Receivable by $360 ($400 − $40). e. Increase Utilities Expense by $70. f. Increase Office Supplies and Accounts Payable by $900 each. g. Decrease Computers by $5,810 ($22,300 − $16,490). Prepare the corrected trial balance at February 28, 2015. Journal entries are not required.
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P2-35A
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