SOLUTIONS TO SET B EXERCISES
3B-1.
Date
Account Titles and Description
PR
Dr.
Cr.
201X
Apr.
1
Cash
0
0
0
00
Equipment
0
0
0
00
J. Dimon, Capital
0
0
0
00
Owner investment
3
Building
0
0
0
00
Accounts Payable
0
0
0
00
Purchase of building on account
12
Truck
11
0
0
0
00
Cash
0
0
0
00
Purchase truck for cash
18
Supplies
5
0
0
00
Accounts Payable
5
0
0
00
Purchase of supplies on account
EXERCISES (CONTINUED)
3B-2.
Date
Account Titles and Description
PR
Dr.
Cr.
201X
Apr.
1
Cash
80
0
0
0
00
R. Savareses, Capital
80
0
0
0
00
Owner investment
5
Equipment
15
0
0
0
00
Cash
15
0
0
0
00
Purchase of equipment for cash
8
Equipment
5
0
0
0
00
Accounts Payable
5
0
0
0
00
Purchase of equipment on account
14
Cash
1
3
0
0
00
Service Revenue
1
3
0
0
00
Collected cash revenue
18
Accounts Receivable
7
5
0
00
Service Revenue
7
5
0
00
Earned revenue on account
20
R. Savareses, Withdrawals
5
0
0
00
Cash
5
0
0
00
Owner withdrawal
EXERCISES (CONTINUED)
3B-3.
Date
201X
Account Titles and Description
PR
Dr.
Cr.
Nov.
6
Cash
111
52
0
0
0
00
A. Kingston, Capital
311
52
0
0
0
00
Cash investment
14
Equipment
121
3
0
0
0
00
Cash
111
1
0
0
0
00
Accounts Payable
211
2
0
0
0
00
Purchase of equipment
CASH
ACCOUNT NO. 111
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Nov.
6
GJ4
52
0
0
0
00
52
0
0
0
00
14
GJ4
1
0
0
0
00
51
0
0
0
00
EQUIPMENT
ACCOUNT NO. 121
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Nov.
14
GJ4
3
0
0
0
00
3
0
0
0
00
ACCOUNTS PAYABLE
ACCOUNT NO. 211
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Nov.
14
GJ4
2
0
0
0
00
2
0
0
0
00
A. KINGSTON, CAPITAL
ACCOUNT NO. 311
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Nov.
6
GJ4
52
0
0
0
00
52
0
0
0
00
EXERCISES (CONTINUED)
3B-4. (a) PAGE 1
Date
201X
Account Titles and Description
PR
Dr.
Cr.
Dec.
1
Cash
111
52
0
0
0
00
J. Lowe, Capital
311
52
0
0
0
00
Owner investment
4
Equipment
121
2
0
0
0
00
Account Payable
211
2
0
0
0
00
Purchase of equipment on account
15
Accounts Receivable
112
14
0
0
0
00
Fees Earned
411
14
0
0
0
00
Services performed on account
18
Cash
111
4
0
0
0
00
Fees Earned
411
4
0
0
0
00
Services performed for cash
24
Salaries Expense
511
1
8
0
0
00
Cash
111
1
8
0
0
00
Salaries paid
28
J. Lowe, Withdrawals
312
1
0
0
0
00
Cash
111
1
0
0
0
00
Owner withdrawal
(b)
CASH
ACCOUNT NO. 111
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Dec.
1
GJ1
52
0
0
0
00
52
0
0
0
00
18
GJ1
4
0
0
0
00
56
0
0
0
00
24
GJ1
1
8
0
0
00
54
2
0
0
00
28
GJ1
1
0
0
0
00
53
2
0
0
00
EXERCISES (CONTINUED)
ACCOUNTS RECEIVABLE
ACCOUNT NO. 112
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Dec.
15
GJ1
14
0
0
0
00
14
0
0
0
00
EQUIPMENT
ACCOUNT NO. 121
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Dec.
4
GJ1
2
0
0
0
00
2
0
0
0
00
ACCOUNTS PAYABLE
ACCOUNT NO. 211
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Dec.
4
GJ1
2
0
0
0
00
2
0
0
0
00
J. LOWE, CAPITAL
ACCOUNT NO. 311
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Dec.
1
GJ1
52
0
0
0
00
52
0
0
0
00
J. LOWE, WITHDRAWALS
ACCOUNT NO. 312
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Dec.
28
GJ1
1
0
0
0
00
1
0
0
0
00
FEES EARNED
ACCOUNT NO. 411
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Dec.
15
GJ1
14
0
0
0
00
14
0
0
0
00
18
GJ1
4
0
0
0
00
18
0
0
0
00
EXERCISES (CONTINUED)
SALARIES EXPENSE
ACCOUNT NO. 511
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Dec.
24
GJ1
1
8
0
0
00
1
8
0
0
00
(c.)
LOWE COMPANY
TRIAL BALANCE
DECEMBER 31, 201X
Dr.
Cr.
Cash
53
2
0
0
00
Accounts Receivable
14
0
0
0
00
Equipment
2
0
0
0
00
Accounts Payable
2
0
0
0
00
J. Lowe, Capital
52
0
0
0
00
J. Lowe, Withdrawals
1
0
0
0
00
Fees Earned
18
0
0
0
00
Salaries Expense
1
8
0
0
00
Totals
72
0
0
0
00
72
0
0
0
00
3B-5
0
0
0
00
7
0
0
00
2
0
0
7
5
0
5
5
0
00
6
0
0
8
0
0
00
8
0
0
00
1
0
0
00
EXERCISES (CONCLUDED)
Copyright © 2016 Pearson Education, Inc.
3-18
SOLUTIONS TO SET A PROBLEMS
PROBLEM 3A-1
JASON’S CLEANING SERVICE
GENERAL JOURNAL
PAGE 1
Date
201X
Account Titles and Description
PR
Dr.
Cr.
Oct.
1
Prepaid Rent
9
0
0
0
00
Cash
9
0
0
0
00
Rent paid in advance
6
Cleaning Equipment
7
0
0
0
00
Accounts Payable
7
0
0
0
00
Purchased equipment on account
12
Cleaning Supplies
6
0
0
00
Cash
6
0
0
00
Paid cash for supplies
14
Cash
1
2
0
0
00
Cleaning Fees Earned
1
2
0
0
00
Earned fee and received cash
20
Jason Lang, Withdrawals
5
0
0
00
Cash
5
0
0
00
Owner withdrawal
21
Advertising Expense
4
5
0
00
Accounts Payable
4
5
0
00
Received advertising bill
25
Electrical Expense
7
0
00
Cash
7
0
00
Paid electrical expense
28
Salaries Expense
1
0
0
0
00
Cash
1
0
0
0
00
Paid salaries
PROBLEM 3A-1 (CONCLUDED)
JASON’S CLEANING SERVICE
GENERAL JOURNAL
PROBLEM 3A–2
(a, b)
BRENDA’S ART STUDIO
GENERAL JOURNAL
PAGE 1
Date
201X
Account Titles and Description
PR
Dr.
Cr.
June
1
Cash
111
52
0
0
0
00
B. Rennicke, Capital
311
52
0
0
0
00
Owner investment
1
Prepaid Rent
114
2
0
0
0
00
Cash
111
2
0
0
0
00
Rent paid in advance
3
Equipment
131
2
0
0
0
00
Accounts Payable
211
2
0
0
0
00
Purchase of equipment on account
5
Cash
111
10
0
0
0
00
Art Fees Earned
411
10
0
0
0
00
Fee earned for cash
8
Art Supplies
121
5
0
0
00
Cash
111
5
0
0
00
Purchase of supplies for cash
9
Accounts Receivable
112
2
5
0
0
00
Art Fees Earned
411
2
5
0
0
00
Fee earned on account
10
Salaries Expense
521
1
3
0
0
00
Cash
111
1
3
0
0
00
Salaries paid
15
B. Rennicke, Withdrawals
312
2
0
0
00
Cash
111
2
0
0
00
Owner withdrawal
28
Electrical Expense
511
8
0
00
Cash
111
8
0
00
Paid electric bill