Question

Current Attempt in Progress Tom Zopf owns and manages a computer repair service, which had the following trial balance on December 31, 2018 (the end of its fiscal year). Credit Pharoah Company Trial balance December 31, 2018 Debit Cash $ 7,000 Accounts Receivable 15,300 Supplies 13,200 Prepaid Rent 1,000 Equipment 19,200 Accounts Payable Common Stock Retained Earnings $55,700 $12.900 31,000 11,800 $55,700 Summarized transactions for January 2019 were as follows. 1. Advertising costs, paid in cash $1,110. Additional runnlin sonundan sorun 2 700 2

Answer 1

Ledger, With Opening balances Journals Credit Cash $7,000 No. 1 Account titles Advertising Expense Cash Debit $ 1,110 Bal. $ 1,110 Accounts Receivable $15,300 Bal. 2 $ 3,700 Supplies Accounts Payable $ 3,700 Supplies $13,200 Bal. 3 $ 1,930 Miscellaneous Expense Cash $ 1,930 Prepaid Rent $1,000 Bal. 4 $ 12,240 Cash Accounts Receivable $ 12,240 Equipment $19,200 Bal. 5 $ 12,650 Accounts Payable Cash $ 12,650 Accounts Payable Bal. $12,900 6 Cash Accounts Receivable Service Revenue $ $ 6,120 8,660 $ 14,780 Common Stock Bal. $31,000 7 $ 2,270 Salaries and Wages Expense Cash $ 2,270 Retained Earnings Bal. $11,800 8 $ 2,670 Dividends Cash $ 2,670

Ledger Common Stock Bal. $ 31,000 Bal. 4 6 Cash $ 7,000 $ 12,240 $ 6,120 1 3 5 7 8 $ 1.110 $ 1,930 $ 12,650 $ 2.270 $ 2,670 Retained Earnings Bal. $ 11,800 End. $ 4,730 Trial Balances Account Info Cash Accounts Receivable Supplies Prepaid Rent Equipment Accounts Payable Common Stock Retained Earnings Dividends Service Revenue Advertising Expense Miscellaneous Expense Salaries and Wages Expense Total Dividends $ 2,670 $ 2,670 8 End. Debit Credit $ 4,730 $ 11,720 $ 16,900 $ 1,000 $ 19,200 $ 3,950 $ 31,000 $ 11,800 $ 2,670 $ 14,780 $ 1,110 $ 1,930 $ 2.270 $ 61,530 $ 61,530 $ 12,240 Bal. 6 End. Accounts Receivable $ 15,300 4 $ 8,660 $ 11,720 Service Revenue 6 End. $ 14,780 $ 14,780 Bal. 2 End. Supplies $ 13,200 $ 3.700 $ 16,900 1 End. Advertising Expense $ 1.110 $ 1,110 Prepaid Rent 1,000 Bal. $ 3 End. Miscellaneous Expense $ 1,930 $ 1,930 Equipment $ 19,200 Bal. 7 End. Salaries and Wages Expense $ 2,270 $ 2,270 5 Accounts Payable $ 12,650 Bal. 2 End. $ 12.900 $ 3,700 $ 3,950

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