Palm Brown | ||
Trial Balance | ||
31st July XXXX | ||
Account | Debit | Credit |
Cash | 13,130 | |
Account Receivable | 6,500 | |
Rent Expenses | 970 | |
Salaries Expenses | 4,900 | |
Delivery Expenses | 700 | |
Advertising Expenses | 900 | |
Utilities Expenses | 650 | |
Supplies Expenses | 2,560 | |
Dividend | 2,300 | |
Computer | 4,600 | |
Accounts Payable | 5,160 | |
Notes Payable | 2,500 | |
Common Stock | 1,700 | |
Retained Earning | 9,500 | |
Design Service Revenue | 18,350 | |
Total | 37,210 | 37,210 |
Transaction Journal (Please insert appropriate narration for completion of Journal)
Transactions No. | Accounts | Debit | Credit |
1 | Rent Expenses | 970 | |
Cash | 970 | ||
2 | Cash | 7,400 | |
Account Receivable | 7,400 | ||
3 | Notes Payable | 2,800 | |
Cash | 2,800 | ||
4 | Account Receivable | 16,850 | |
Design Service Revenue | 16,850 | ||
5 | Cash | 1,500 | |
Design Service Revenue | 1,500 | ||
6 | Accounts Payable | 700 | |
Cash | 700 | ||
7 | Cash | 13,050 | |
Account Receivable | 13,050 | ||
8 | Delivery Expenses | 700 | |
Cash | 700 | ||
9 | Salaries Expense | 4,900 | |
Cash | 4,900 | ||
10 | Advertising Expense | 900 | |
Accounts Payable | 900 | ||
11 | Utilities Expenses | 650 | |
Cash | 650 | ||
12 | Dividend | 2,300 | |
Cash | 2,300 | ||
13 | Supplies Expense | 2,560 | |
Accounts Payable | 2,560 | ||
14 | Computer | 4,600 | |
Cash | 4,600 |
Recording in T Account for Cash (Please complete other account in similar manner)
Cash Account | |||
Debit | Amount | Credit | Amount |
Opening Balance | 8,800 | Notes Payable | 2,800 |
Account Receivable | 7,400 | Accounts Payable | 700 |
Design Service Revenue | 1,500 | Delivery Expense | 700 |
Account Receivable | 13,050 | Rent Expense | 970 |
Salaries Expense | 4,900 | ||
Utilities Expense | 650 | ||
Dividend | 2,300 | ||
Computer | 4,600 | ||
Closing Balance | 13,130 | ||
Total | 30,750 | Total | 30,750 |
set up general ledger with following accounts: equipment, service fees, rent expense, salaries expense, delivery expense,...
On July 31, 2022, the general ledger of Crane Legal Services Inc.
showed the following balances: Cash $3,920, Accounts Receivable
$1,470, Supplies $490, Equipment $4,900, Accounts Payable $4,020,
Common Stock $3,430, and Retained Earnings $3,330. During August,
the following transactions occurred.
Aug.
3
Collected
$1,180 of accounts receivable due from customers.
5
Received
$1,270 cash for issuing common stock to new investors.
6
Paid
$2,650 cash on accounts payable.
7
Performed
legal services of $6,370, of which $2,940 was collected...
On July 31, 2022, the general ledger of Ivanhoe Leon Services Inc. showed the following balances: Cash $4,160, Accounts Receivable $1,560, Supplies $520, Equipment $5,200, Accounts Payable $4,250, Common Stock $3,640, and Retained Earnings $3,540. During August, the following transactions occurred Aug 3 Collected $1,250 of accounts receivable due from customers S Received $1,350 cash for issuing common stock to new inwestors 6 Paid $2,810 cash on accounts payable 7 Performed legal services of 36,760, of which $3,120 was collected...