Question

1. Record the transactions in general journal or petty cash format.

2. Post the transactions to the general ledger accounts.

3. Prepare a trial balance.

4. Compare the Computer Center's deposits and checks with the bank statements and complete a bank reconciliation as of September 30, 201X.

ON the JOB TITTITUTITTIIN 1111 My AccountingLab SANCHEZ COMPUTER CENTER OOOL02, 3, 4 (60 MIN) The books have been closed for the first year of business for Sanchez Computer Center. The company ended up with a marginal profit for the first three months in operation. Tony expects faster growth as he enters a busy season. Following is a list of transactions for the month of October. Petty Cash account F1010 and Miscellaneous Expense account #5100 have been added to the chart of accounts.

Answer 1

Journal general

1 Prepaid Rent a/c Dr 1200

To Bank a/c 1200

2 Petty cash a/c Dr 100

To cash/bank a/c 100

4 Cash a/c Dr 3600

To customer a/c 3600

5 Cash a/c Dr 2600

To A. Pitale's a/c 2600

6 Office stamp expense a/c Dr 25

To Petty cash a/c 25

7 Cash a/c Dr 2000

To Bank a/c 2000

8 Supplies a/c Dr 22

To petty cash a/c 22

12 Newspaper exp.a/c Dr 10

To petty cash a/c 10

16 Accrued Telephone exp. a/c Dr 65

To Bank a/c 65

17 Accrued Electric Expense a/c Dr 95

To Bank a/c 95

22 Taylor golf a/c Dr 4200

To Services a/c 4200

23 Computer paper exp. a/c Dr 20

To Petty cash a/c 20

30 Meals exp a/c Dr 15

To Petty cash a/c 15

31 cash a/c Dr 8

To Petty cash a/c 8

General ledgers accounts

Petty cash a/c

Particulars Dr	Amount	Particulars Cr	Amount
6) To Office exp. a/c	25	2)By cash a/c	100
8) To supplies	22
12) To newspaper exp. a/c	10
23)To Computer paper exp. a/c	20
30) To Meals exp. a/c	15
31) To cash a/c	8
Total	100	Total	100

Cash a/c

Particulars Dr	Amount	Particulars Cr	Amount
2) To petty cash a/c	100	31) By petty cash a/c	8
31) To bal c/d	8108	4) By customer a/c	3600
		5) By A pitale's a/c	2600
		7) By bank a/c	2000
Total	8108	Total	8108

Bank a/c

Particulars Dr	Amount	Particulars Cr	Amount
To cash a/c	2000	By accrued telephone exp.a/c	65
To Prepaid rent	1200	By accrued electric exp.a/c	95
		By Bal c/d	3040
Total	3200	Total	3200

Income statement

Particulars Dr	Amount	Particulars Cr	Amount
6) To Office exp. a/c	25	2)By Services a/c	4200
8) To supplies	22
12) To newspaper exp. a/c	10
23)To Computer paper exp. a/c	20
30) To Meals exp. a/c	15
31) To Net Profit (capital a/c
Total	100	Total	100

Trial balance Debit Credit

Cash a/c 8108

Bank a/c 3040

Prepaid rent 1200

Customer a/c 3600

A Pitale's a/c 2600

Profit (Capital a/c) 4108

Accrued telephone exp. a/c 65

Accrued electric exp. 95

Taylor golf a/c 4200

Total 13508 13508

Reconciliation statement

Balance as per bank books 2905

Add Deposits not in bank statement 140

Less Cheques not cleared but presented

Computer connections (200)

Multi Systems Inc. (1200)

Balance as per company's records 1645$