Question

PART 2: Post to the Ledger Post all transactions to the t-accounts and calculate ending balances. Be sure to enter a zero on the normal side of the account for any accounts with a zero balance. Post all transactions in chronological order. Enter your solutions in the first available cell in each T-Account.

Answer 1

Accounts Payable					Prepaid Insurance
Dec. 29	$ 240	$ 240	Dec. 27		Dec. 1	$ 1,700
		$ 0	Dec. 31, Bal		Dec. 31, Bal	$ 1,700
Accounts Receivable					Rent Expense
Dec. 15	$ 3,100	$ 3,100	Dec. 25		Dec. 28	$ 1,900
Dec. 28	$ 800
Dec. 31, Bal	$ 800				Dec. 31, Bal	$ 1,900
Cash					Salaries Expense
Dec. 1	$ 21,400	$ 1,700	Dec. 1		Dec. 18	$ 2,900
Dec. 12	$ 2,600	$ 410	Dec. 4
Dec. 20	$ 11,400	$ 2,900	Dec. 18
Dec. 22	$ 4,100	$ 1,900	Dec. 28
Dec. 25	$ 3,100	$ 240	Dec. 29
		$ 3,400	Dec. 30
Dec. 31, Bal	$ 32,050				Dec. 31, Bal	$ 2,900
Common Stock					Service Revenue
		$ 32,900	Dec. 1				$ 2,600	Dec. 12
							$ 3,100	Dec. 15
							$ 11,400	Dec. 20
							$ 800	Dec. 28
		$ 32,900	Dec. 31, Bal				$ 17,900	Dec. 31, Bal
Dividends					Unearned Revenue
Dec. 30	$ 3,400						$ 4,100	Dec. 22
		$ 3,400	Dec. 31, Bal				$ 4,100	Dec. 31, Bal
Furniture					Utilities Expense
Dec. 1	$ 11,500				Dec. 27	$ 240
Dec. 31, Bal	$ 11,500				Dec. 31, Bal	$ 240
Office supplies
Dec. 4	$ 410
Dec. 31, Bal	$ 410