Question

Book Calculator ntries into accounts and Trial Balance Connie Young, an architect, opened an office on October 1, 2019. During the month, she completed the following transactions connected with her professional practice Transferred cash from a personal bank account to an account to be used for the business, $30,800. b. Pald October rent for office and workroom, $3,100. c. Purchased used automobile for $20,000, paying $4,600 cash and giving a note payable for the remainder. d. Purchased office and computer equipment on account, $6,200. e. Pald cash for supplies, $1,480. f. Pald cash for annual Insurance policies, $2,100. 9. Received cash from client for plans delivered, $7,700. h. Pald cash for miscellaneous expenses, $830. 1. Paid cash to creditors on account, $1,790. 3. Paid $250 on note payable. k. Received invoice for blueprint service, due in November, $1,000. 1. Recorded fees eamed on plans delivered, payment to be received in November, $5,300. m. Pald salary of assistants, $1,600. n. Paid gas, oil, and repairs on automobile for October, $400. Required: 1. Record the above transactions (in chronological order) directly into the accounts. To the left of the amount entered in the accounts, select the appropriate letter to identify the transaction. 2. Determine account balances of the T accounts. Accounts containing a single entry only (such as Prepaid Insurance) do not need a balance. Cash < Previous Next > Check My Work Save and El Sum Assignment for Grading All work saved MacBook Air

Answer 1

Trail Balance 31-October-2019 PERTICULERS Cash at Bank Capital Account Payable Note Payable Plan Fees Inventory Account Receivable Automobile Misc Expenses Office Salaries Rent Expenses Computer & Equipment Prepaid Insurance Blue Print Expense Repair & Maintanace DEBIT CREDIT $ 22,350.00 $ 30,800.00 $ 5,410.00 $ 15,150.00 $ 13,000.00 $ 1,480.00 $ 5,300.00 $ 20,000.00 $ 830.00 $ 1,600.00 $ 3,100.00 $ 6,200.00 $ 2,100.00 $ 1,000.00 $ 400.00 $ 64,360.00 $ 64,360.00

DR CR DATE AMOUNT PERTICULERS Capital Plan Fees Cash at Bank AMOUNT DATE PERTICULERS $ 30,800.00 Rent $ 7,700.00 Automobile Inventory Prepaid Insurance Misc Expenses Account Payable Note Payable Salary Repair & Maintanance Balance C/D $ 38,500.00 Plan Fees Cash $ 13,000.00 Account Receivable $ 13,000.00 ACCOUNT PAYABLE AMOUNT DATE PERTICULERS $ 1,790.00 Computer & Equipment $ 5,410.00 Blue Print Expense $ 7,200.00 Total $ 3,100.00 $ 4,600.00 $ 1,480.00 $ 2,100.00 $ 830.00 S 1,790.00 $ 250.00 $ 1,600.00 $ 400.00 $ 22,350.00 $ 38,500.00 CR $ 7,700.00 $ 5,300.00 $ 13,000.00 CR AMOUNT $ 6,200.00 $ 1,000.00 $ 7,200.00 DR Balance C/D DR DATE PERTICULERS Cash Balance C/D Total DR CR Note Payable 250.00 Cash $ Automobile $ 15,400.00 Balance C/D $ $ 15,150.00 15,400.00 $ 15,400.00

Debit Credit $ 30,800.00 $ 30,800.00 $ 3,100.00 $ 3,100.00 $ 20,000.00 $ 4,600.00 $ 15,400.00 $ 6,200.00 $ 6,200.00 $ 1,480.00 $ 1,480.00 $ 2,100.00 $ 2,100.00 7,700.00 $ 7,700.00 Date Discription Cash Capital Rent Cash (Being Rent Paid) Automobile Cash Account Payable - Note Payable (Being Automobile purchased Partialy Cash and Credit) Computer & Equipment Account Payable (Being Computer Purchased on Account) Inventory Cash (Being Inventory Purchased) Prepaid Insurance Cash (Being Insurance Paid for One year) Cash Plan Fees (Being Plan fees Received) Misc. expense Cash (Being Misc Expense paid) Account payable Cash (Being Payable amount paid to creditors) Note Payable Cash (Being note payable amount paid) Blue Print Expense Account payable (Being Expence invoive received) Account Receivable Plan Fees (Being Plan fees post to receivable account) Salary Cash (Being Salary Paid) Repair & maitenance Cash (Being Repair and Maintananace Charge Paid) $ 830.00 $ 830.00 $ 1,790.00 $ 1,790.00 250.00 $ 250.00 $ 1,000.00 $ 1,000.00 $ 5,300.00 $ 5,300.00 $ 1,600.00 $ 1,600.00 $ 400.00 $ 400.00