Question

Someone, please help. I'm trying to do the general ledger and trial balance and every time I do it the debit and credit sides do not equal each other in the end.

Could you please do the general ledger and trial balance so I can compare it to mine. Thanks.

General Journal Trans- action Date Account Debit Credit Dec. 1 cash 115000 115000 Notes payable Building 2 Dec. 1 62000 cash 62000 3 Dec. 1 Cash 4350 4350 Deferred revenue Cash Dec. 1 96000 Common stock 96000 Dec. 1 inventory 14400 14400 6 Dec. 1 Accounts payable Vehicle cash 21000 21000 7 Dec. 1 Prepaid insurance 6000 cash 6000 8 Dec. 3 Notes receivable 15000 Sales revenue 15000 Dec. 3 7200 7200 Dec. 3 3200 3200 10 Dec. 6 Cost of goods sold inventory Supplies expense Accounts payable Deferred revenue Service revenue Accounts payable cash Sales discounts 3480 3480 11 Dec. 8 14400 13968 432

These were the Journal entires.

Answer 1

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Date Answer our last Journal entry on Dec. 31 for sale of vehicle is wrong and due to which you are facing that problem. The consect Entry is :- Journal Debit Credit Dec.31 Cash $ 23,000 Gain on sale of venice vehicle 20,700 (velicle sold) All remaining Journal entries done by you are 2,300 comect.