Question

All Journals and General Ledger; Trial Balance

The transactions completed by Revere Courier Company during December, the first month of the fiscal year, were as follows:

Dec. 1.		Issued Check No. 610 for December rent, $4,200.
Dec. 2.		Issued Invoice No. 940 to Clifford Co., $1,740
Dec. 3.		Received check for $4,800 from Ryan Co. in payment of account.
Dec. 5.		Purchased a vehicle on account from Platinum Motors, $37,300.
Dec. 6.		Purchased office equipment on account from Austin Computer Co., $4,500.
Dec. 6.		Issued Invoice No. 941 to Ernesto Co., $3,870.
Dec. 9.		Issued Check No. 611 for fuel expense, $600.
Dec. 10.		Received check from Sing Co. in payment of $4,040 invoice.
Dec. 10.		Issued Check No. 612 for $330 to Office To Go Inc. in payment of invoice.
Dec. 10.		Issued Invoice No. 942 to Joy Co., $1,970.
Dec. 11.		Issued Check No. 613 for $3,090 to Essential Supply Co. in payment of account.
Dec. 11.		Issued Check No. 614 for $500 to Porter Co. in payment of account.
Dec. 12.		Received check from Clifford Co. in payment of $1,740 invoice of December 2.
Dec. 13.		Issued Check No. 615 to Platinum Motors in payment of $37,300 balance of December 5.
Dec. 16.		Issued Check No. 616 for $39,800 for cash purchase of a vehicle.
Dec. 16.		Cash fees earned for December 1–16, $20,300.
Dec. 17.		Issued Check No. 617 for miscellaneous administrative expense, $500.
Dec. 18.		Purchased maintenance supplies on account from Essential Supply Co., $1,750.
Dec. 19.		Purchased the following on account from McClain Co.: maintenance supplies, $1,500; office supplies, $375.
Dec. 20.		Issued Check No. 618 in payment of advertising expense, $1,780.
Dec. 20.		Used $3,200 maintenance supplies to repair delivery vehicles.
Dec. 23.		Purchased office supplies on account from Office To Go Inc., $400.
Dec. 24.		Issued Invoice No. 943 to Sing Co., $6,100.
Dec. 24.		Issued Check No. 619 to S. Holmes as a personal withdrawal, $3,000.
Dec. 25.		Issued Invoice No. 944 to Ernesto Co., $5,530.
Dec. 25.		Received check for $4,100 from Ryan Co. in payment of balance.
Dec. 26.		Issued Check No. 620 to Austin Computer Co. in payment of $4,500 invoice of December 6.
Dec. 30.		Issued Check No. 621 for monthly salaries as follows: driver salaries, $16,900; office salaries, $7,100.
Dec. 31.		Cash fees earned for December 17–31, $18,900.
Dec. 31.		Issued Check No. 622 in payment for office supplies, $340.

Required:

1. The following accounts are setup in the general ledger as of December 1. Using the information below, enter the balances for each account.

11	Cash	$161,680		32	S. Holmes, Drawing	-
12	Accounts Receivable	12,940		41	Fees Earned	-
14	Maintenance Supplies	10,850		51	Driver Salaries Expense	-
15	Office Supplies	4,900		52	Maintenance Supplies Exp.	-
16	Office Equipment	28,500		53	Fuel Expense	-
17	Accum. Depr.—Office Equip.	6,900		61	Office Salaries Expense	-
18	Vehicles	95,900		62	Rent Expense	-
19	Accum. Depr.—Vehicles	14,700		63	Advertising Expense	-
21	Accounts Payable	3,920		64	Miscellaneous Administrative Expense	-
31	S. Holmes, Capital	289,250

3. Post the appropriate individual entries to the general ledger.

4. Total each of the columns of the special journals, and post the appropriate totals to the general ledger; insert the account balances.

If an amount box does not require an entry, leave it blank.

GENERAL LEDGER
					Balance
Date	Item	Post. Ref.	Debit	Credit	Dr.	Cr.
Account: Cash #11
Dec. 1	Balance	✔
Dec. 31
Dec. 31
Account: Accounts Receivable #12
Dec. 1	Balance	✔
Dec. 31
Dec. 31
Account: Maintenance Supplies #14
Dec. 1	Balance	✔
Dec. 20
Dec. 31
Account: Office Supplies #15
Dec. 1	Balance	✔
Dec. 31
Dec. 31
Account: Office Equipment #16
Dec. 1	Balance	✔
Dec. 6
Account: Accumulated Depreciation-Office Equipment #17
Dec. 1	Balance	✔
Account: Vehicles #18
Dec. 1	Balance	✔
Dec. 5
Dec. 16
Account: Accumulated Depreciation-Vehicles #19
Dec. 1	Balance	✔
Account: Accounts Payable #21
Dec. 1	Balance	✔
Dec. 31
Dec. 31
Account: S. Holmes, Capital #31
Dec. 1	Balance	✔
Account: S. Holmes, Drawing #32
Dec. 24
Account: Fees Earned #41
Dec. 16
Dec. 31
Dec. 31
Account: Driver Salaries Expense #51
Dec. 30
Account: Maintenance Supplies Expense #52
Dec. 20
Account: Fuel Expense #53
Dec. 9
Account: Office Salaries Expense #61
Dec. 30
Account: Rent Expense #62
Dec. 1
Account: Advertising Expense #63
Dec. 20
Account: Miscellaneous Administrative Expense #64
Dec. 17

Answer 1

Cash			Account No.11
						Balance
Date	Item		Post Ref	Debit	Credit	Debit	Credit
Dec-01	Balance					$161,680.00
Dec-01	Rent		CP-34		$4,200.00	$157,480.00
Dec-03	Received		CP-31	$4,800.00		$162,280.00
Dec-09	Fuel		CP-34		$600.00	$161,680.00
Dec-10	Received		CP-31	$4,040.00		$165,720.00
Dec-10	Paid		CP-34		$330.00	$165,390.00
Dec-11	Paid		CP-34		$3,090.00	$162,300.00
Dec-11	Paid		CP-34		$500.00	$161,800.00
Dec-12	Received		CP-31	$1,740.00		$163,540.00
Dec-13	Paid		CP-34		$37,300.00	$126,240.00
Dec-16	Vehicle		CP-34		$39,800.00	$86,440.00
Dec-16	Cash Fees		CP-31	$20,300.00		$106,740.00
Dec-17	Misc.		CP-34		$500.00	$106,240.00
Dec-20	Advertising		CP-34		$1,780.00	$104,460.00
Dec-24	Withdrawal		CP-34		$3,000.00	$101,460.00
Dec-25	Received		CP-31	$4,100.00		$105,560.00
Dec-26	Paid		CP-34		$4,500.00	$101,060.00
Dec-30	Salaries		CP-34		$24,000.00	$77,060.00
Dec-31	Cash Fees		CP-31	$18,900.00		$95,960.00
Dec-31	Paid		CP-34		$340.00	$95,620.00

Accounts Receivable			Account No.12
						Balance
Date	Item		Post Ref	Debit	Credit	Debit	Credit
Dec-01	Balance					$12,940.00
Dec-02	Invoice 940		R35	$1,740.00		$14,680.00
Dec-03	Payment Received		CR31		$4,800.00	$9,880.00
Dec-06	Invoice 941		R35	$3,870.00		$13,750.00
Dec-10	Payment Received		CR31		$4,040.00	$9,710.00
Dec-10	Invoice 942		R35	$1,970.00		$11,680.00
Dec-12	Payment Received		CR31		$1,740.00	$9,940.00
Dec-24	Invoice 943		R35	$6,100.00		$16,040.00
Dec-25	Invoice 944		R35	$5,530.00		$21,570.00
Dec-25	Payment Received		CR31		$4,100.00	$17,470.00

Maintenance Supplies			Account No.14
						Balance
Date	Item		Post Ref	Debit	Credit	Debit	Credit
Dec-01	Balance					$10,850.00
Dec-18	Purchase		P37	$1,750.00		$12,600.00
Dec-19	Purchase		P37	$1,500.00		$14,100.00
Dec-20	Used		GJ1		$3,200.00	$10,900.00

Office Supplies			Account No.15
						Balance
Date	Item		Post Ref	Debit	Credit	Debit	Credit
Dec-01	Balance					$4,900.00
Dec-19	Purchase		P37	$375.00		$5,275.00
Dec-23	Purchase		P37	$400.00		$5,675.00

Office Equipment			Account No.16
						Balance
Date	Item		Post Ref	Debit	Credit	Debit	Credit
Dec-01	Balance					$4,900.00
Dec-06	Purchase		P37	$4,500.00		$9,400.00

Accumulated Depreciation- Office Equipment			Account No.17
						Balance
Date	Item		Post Ref	Debit	Credit	Debit	Credit
Dec-31	Balance						$6,900.00

Vehicles			Account No.18
						Balance
Date	Item		Post Ref	Debit	Credit	Debit	Credit
Dec-01	Balance					$95,900.00
Dec-05	Purchase		P37	$37,300.00		$133,200.00
Dec-16	Purchase		CP34	$39,800.00		$173,000.00

Accumulated Depreciation- Vehicles			Account No.19
						Balance
Date	Item		Post Ref	Debit	Credit	Debit	Credit
Dec-01	Balance						$14,700.00

Accounts Payable			Account No.21
						Balance
Date	Item		Post Ref	Debit	Credit	Debit	Credit
Dec-31	Balance						$3,920.00
Dec-05	Vehicle		P37		$37,300.00		$41,220.00
Dec-06	Office Equipment		P37		$4,500.00		$45,720.00
Dec-10	Paid		CP-34	$330.00			$45,390.00
Dec-11	Paid		CP-34	$3,090.00			$42,300.00
Dec-11	Paid		CP-34	$500.00			$41,800.00
Dec-13	Paid		CP-34	$37,300.00			$4,500.00
Dec-18	Supplies		P37		$1,750.00		$6,250.00
Dec-19	Supplies		P37		$1,875.00		$8,125.00
Dec-23	Supplies		P37		$400.00		$8,525.00
Dec-26	Paid		CP-34	$4,500.00			$4,025.00

Capital			Account No.31
						Balance
Date	Item		Post Ref	Debit	Credit	Debit	Credit
Dec-01	Balance						$289,250.00

These are the balances for each account and remaining accounts has no balances.