Salaries and Wages Expense 2800 Rent Expense 1100 29800 29800 5 PROBLEM 2 3A a

Salaries and wages expense 2800 rent expense 1100

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Salaries and Wages Expense ...................... 2,800 Rent Expense ....................................................... 1,100 $29,800 $29,800 5
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PROBLEM 2-3A (a) Trans. Account Titles and Explanation Debit Credit 1. Cash ................................................................ 40,000 Owner’s Capital ................................... 40,000 2. No entry—Not a transaction. 3. Prepaid Rent ................................................... 24,000 Cash ...................................................... 24,000 4. Equipment ...................................................... 30,000 Cash ...................................................... 10,000 Accounts Payable ............................... 20,000 5. Prepaid Insurance .......................................... 1,800 Cash ...................................................... 1,800 6. Supplies .......................................................... 420 Cash ...................................................... 420 7. Supplies .......................................................... 1,500 Accounts Payable ............................... 1,500 8. Cash ................................................................ 8,000 Accounts Receivable ..................................... 12,000 Service Revenue ................................. 20,000 6
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9. Accounts Payable .......................................... 400 Cash ...................................................... 400 10. Cash ................................................................ 3,000 Accounts Receivable .......................... 3,000 11. Utilities Expense ............................................ 380 Accounts Payable ............................... 380 12. Salaries and Wages Expense ................ 6,100 Cash ................................................ 6,100 (b) Cash (1) 40,000 (3) 24,000 (4) 10,000 (5) 1,800 (6) 420 (8) 8,000 (9) 400 (10) 3,000 (12) 6,100 8,280 Accounts Receivable (8) 12,000 (10) 3,000 9,000 Supplies (6) 420 (7) 1,500 1,920 Prepaid Insurance (5) 1,800 1,800 Prepaid Rent (3) 24,000 24,000 Equipment (4) 30,000 30,000 Accounts Payable (4) 20,000 (7) 1,500 (9) 400 (11) 380 21,480 Owner’s Capital (1) 40,000 40,000 Service Revenue 7
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(8) 20,000 20,000 Salaries and Wages Expense (12) 6,100 6,100 Utilities Expense (11) 380 380 8
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(c) MAQUOKETA SERVICES Trial Balance May 31, 2017 Debit Credit Cash .................................................................... $ 8,280 Accounts Receivable ............................................ 9,000 Supplies ................................................................. 1,920 Prepaid Insurance ................................................. 1,800 Prepaid Rent ........................................................ 24,000 Equipment ........................................................... 30,000 Accounts Payable ................................................. $21,480 Owner’s Capital ..................................................... 40,000 Service Revenue ................................................... 20,000 Salaries and Wages Expense .............................. 6,100 Utilities Expense ................................................ 380 ..................................................................................... $81,480 $81,480 PROBLEM 2-4A AVTAR SANDHU CO. Trial Balance June 30, 2017 Debit Credit Cash ($3,340 + $270) ...................................................... $ 3,610 Accounts Receivable ($2,812 – $270) .......................... 2,542 Supplies ($1,200 – $710) ................................................ 490 Equipment ($2,600 + $710) ............................................ 3,310 Accounts Payable ($3,666 – $306 – $360) .................... $ 3,000 Unearned Service Revenue ........................................... 1,100 Owner’s Capital .............................................................. 8,000 Owner’s Drawings ($800 + $600) .................................. 1,400 Service Revenue ($2,480 + $882) .................................. 3,362 Salaries and Wages Expense ($3,200 + $700 – $600) ..... 3,300 Utilities Expense ............................................................. 810 $15,462 $15,462 9
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PROBLEM 2-5A (a) & (c) Cash No. 101 Date Explanation Ref. Debit Credit Balance Mar. 1 Balance 3,000 2 J1 1,500 1,500 9 J1 4,300 5,800 10 J1 4,100 1,700 12 J1 900 800 20 J1 5,000 5,800 20 J1 2,000 3,800 31 J1 3,100 700 31 J1 450 1,150 31 J1 9,000 10,150 Accounts Receivable No. 112 Date Explanation Ref. Debit Credit Balance Mar. 31 J1 450 450 Land No. 140 Date Explanation Ref. Debit Credit Balance Mar. 1 Balance 24,000 Buildings No. 145 Date Explanation Ref. Debit Credit Balance Mar. 1 Balance 10,000 Equipment No. 157 Date Explanation Ref. Debit
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