Question

varierand ma at aray 1, the busreses ganera de showed the role normal account balances: Par Elsсkaans Artsy Graphics, m oviding designs for 56. 4: curls avalle Artcurts Receivable 10.00 Nues Payable Comer Suck Rear Laminas Tulal Asses 517.500 Tallibilities Sime 4,20 Fury 517.500 Twing a change chaud Paid Jarenr. 5510 2 Colected $7,130 on count from customers. 3 PSid 5,900 instalment ducanthe 53300 norinters bering ncto pa abi. 4 Bled customers for design services rendered or account, 318,100. Rendered cesion series and collected from Ca ntomer $1,200 EPIN ,400 To creditors on CONT. 7 Caled $12,790 Account from SAMAS & Paid a delwry Service for delivery of graphics to commercial firms 5650. 9 Piday salaries $5323 10 RAW ware for peopling, SEND 11 Paisli u k $250 12 Paid Irekie r o $2/CU 13 Received race for supples used in July to be paid in August, 52.ec. 14 Purchased computer for $203 cast to be used in usiness starting next month. neuve a Set up counts for the general ledger with July 1 balances and erter the beginning bences also provide the foluamattuurts: Equipmen: Service Fees Lamec: Re: Expense Sales Cyperse: Delivery Cyperse: Adeeting Experse Uribes Expense: Supplies Cyperse: and Undercls. Prepare journal entries are record the israd transactions in the apparate Tarcours b. Prepare a trial balance sa Jul, 31. Jumal Erries T res Trial Balance Credit ARTSY GRAPHICS Trial Balance July 51 Debit Cash AccLrt Reachablc Four Auris All Notes Payable Recared Earnings Serie Fees Earned RAY Expono Salaries E rsa Delivery typerse Advertising Expense Ultes Exer se E lin Express Total

Answer 1

Requirement a:

General Journal

Ref.	Description	Debit	Credit
1	Rent expense	$510
	Cash		$510
	[To record payment of rent expense]
2	Cash	$7,100
	Accounts receivable		$7,100
	[To record collection form customers]
3	Notes payable	$1,800
	Cash		$1,800
	[To record payment of notes payable]
4	Accounts receivable	$18,100
	Service fees earned		$18,100
	[To record customer billings]
5	Cash	$1,200
	Service fees earned		$1,200
	[To record service fees rendered and collected]
6	Accounts payable	$1,400
	Cash		$1,400
	[To record payments to creditors]
7	Cash	$12,750
	Accounts receivable		$12,750
	[To record collections from customers]
8	Delivery expense	$650
	Cash		$650
	[To record payment of delivery expense]
9	Salaries expense	$5,300
	Cash		$5,300
	[To record salaries expense]
10	Advertising expense	$600
	Accounts payable		$600
	[To record advertising expense to be paid following month]
11	Utilities expense	$250
	Cash		$250
	[To record payment of utilities expense]
12	Dividends	$2,000
	Cash		$2,000
	[To record payment of dividends]
13	Supplies expense	$2,260
	Accounts payable		$2,260
	[To record supplies expense for the month]
14	Equipment	$7,000
	Cash		$7,000
	[To record purchase of computer]

T-Accounts:

Cash					Service fees earned
Beg. Bal.	$6,800	1	$510				4	$18,100
2	$7,100	3	$1,800				5	$1,200
5	$1,200	6	$1,400				End.Bal.	$19,300
7	$12,750	8	$650
		11	$250		Rent expense
		12	$2,000		1	$510
		14	$7,000		End.Bal.	$510
End.Bal.	$14,240
					Salaries expense
Accounts receivable					9	$5,300
Beg. Bal.	$10,700	2	$7,100		End.Bal.	$5,300
4	$18,100	7	$12,750
		9	$5,300		Delivery expense
End.Bal.	$3,650				8	$650
					End.Bal.	$650
Equipment
14	$7,000				Advertising expense
End.Bal.	$7,000				10	$600
					End.Bal.	$600
Accounts payable
6	$1,400	Beg. Bal.	$2,100		Utilities expense
		10	$600		11	$250
		13	$2,260		End.Bal.	$250
		End.Bal.	$3,560
					Supplies expense
Notes payable					13	$2,260
3	$1,800	Beg. Bal.	$4,200		End.Bal.	$2,260
		End.Bal.	$2,400
					Dividends
Common stock					12	$2,000
		Beg. Bal.	$2,000		End.Bal.	$2,000
		End.Bal.	$2,000
Retained Earnings
		Beg. Bal.	$9,200
		End.Bal.	$9,200

Requirement b:

Unadjusted Trial balance
Account title	Debit	Credit
Cash	$14,240
Accounts receivable	$3,650
Equipment	$7,000
Accounts payable		$3,560
Notes payable		$2,400
Common stock		$2,000
Retained Earnings		$9,200
Service fees earned		$19,300
Rent expense	$510
Salaries expense	$5,300
Delivery expense	$650
Advertising expense	$600
Utilities expense	$250
Supplies expense	$2,260
Dividends	$2,000
Total	$36,460	$36,460