Question

(45 min) L01,2,3 The following transactions occurred in November 201X for A. Hopper's Placement Agency: 3B-3. 201X Nov. 1 A. Hopper invested $15,000 cash in the placement agency. 1 Bought equipment from Tiger Co. for $2,100 on account. 3 Earned placement fees of $3,300, but payment will not be received until December. 5 A. Hopper withdrew $1,000 for personal use. 7 Paid wages expense, $400. 9 Placed a client on a local TV show, receiving $14,000 cash. Check Figure: Total Trial Balance $35,600 15 28 29 Bought supplies from Holly Co. for $300 on account. Paid telephone bill for November, $200. Advertising bill from Sheet Co. received but not paid, $900. The chart of accounts for A. Hopper Placement Agency is as follows: Chart of Accounts Assets Owner's Equity 311 312 Revenue 411 Expenses 511 521 531 Advertising Expense Cash Accounts Receivable A. Hopper, Capital A. Hopper, Withdrawals 112 131 Supplies 141 Equipment Liabilities 11 Accounts Payable Placement Fees Earned Wage Expense Telephone Expense Your task is to do the following: a. Set up a ledger based on the chart of accounts using four-column accounts. b. Journalize (page 1) and post the November journal entries c. Prepare a trial balance at November 30, 201x.

Answer 1

01-Sep	Cash	15000
	A hooper capital		15000
01-Sep	Equipment	2100
	Accounts payable		2100
03-Sep	Accounts receivable	3300
	Placement fees earned		3300
05-Sep	A. Hooper withdralws	1000
	Cash		1000
07-Sep	Wages expense	400
	Cash		400
09-Sep	Cash	14000
	Placement fees earned		14000
15-Sep	Supplies	300
	Accounts payable		300
28-Sep	Telephone expense	200
	Cash		200
29-Sep	Advertising expense	900
	Accounts payable		900
	Trial balance	Debit	Credit
	Cash	27400
	Accounts receivable	3300
	Supplies	300
	Equipment	2100
	Accounts payable		3300
	A hooper , capital		15000
	A hooper , withdrawls	1000
	Placement fees earned		17300
	Wages expense	400
	Telephone expense	200
	Advertising expense	900
	Total	35600	35600