Problem 2-4B (LO 2-4)
Transactions for Eli’s Insurance Services
May 2 Debit Credit
Cash 300
May 5
Repairs and Maintenance Expense 425
May 7
Cash 500
May 14
No entry for Eli.
May 19
Accounts Payable 425
May 25
Utilities Expense 135
May 28
Unearned Revenue 300
May 31
Notes Payable 500
Problem 2-5B (LO 2-2, 2-4)
Transactions for Olivia’s Maintenance Services
May 2 Debit Credit
Prepaid Insurance 300
May 5
Accounts Receivable 425
May 7
Notes Receivable 500
May 14
Supplies 200
Cash 200
May 19
Cash 425
May 25
No entry for Olivia.
May 28
Insurance Expense 300
May 31
Cash 500
Problem 2-5B (concluded)
Eli’s Insurance Services Olivia’s Maintenance Services
Assets = Liabilities +
Stockholders’
Equity Assets = Liabilities +
Stockholders’
Equity
May 2 +
$300 = +$300 +$0 +$300
−$300 =$0 +$0
Problem 2-6B (LO 2-6)
Ducks Company
Trial Balance
September 30
Accounts Debit Credit
Cash $ 25,000
Accounts Receivable 14,000
Supplies 7,000
Prepaid Insurance 5,000
Equipment 28,000
Problem 2-7B (LO 2-4, 2-5, 2-6)
Requirement 1
Entries are numbered for posting.
(1) June 1 Debit Credit
Cash 70,000
(2) June 2
Cash 40,000
(3) June 7
Equipment 75,000
(4) June 10
Supplies 8,000
(5) June 12
Cash 5,000
(6) June 16
Salaries Expense 900
(7) June 19
Advertising Expense 500
(8) June 23
Accounts Receivable 6,000
Problem 2-7B (connued)
(9) June 29
Salaries Expense 950
(10) June 30
Utilities Expense 1,400
(11) June 30
Dividends 600
Problem 2-7B (connued)
Requirements 2 and 3
Cash Accounts Receivable Supplies
(1)70,000 75,000 (3) (8) 6,000 (4) 8,000
(2) 40,000 900 (6) 6,000 8,000
Notes Payable Common Stock Dividends
Service Revenue Salaries Expense Advertising Expense
5,000 (5)
(6) 900
(7) 500
Utilities Expense
Problem 2-7B (concluded)
Requirement 4
Salukis Car Cleaning
Trial Balance
June 30
Accounts Debit Credit
Cash $ 35,650
Accounts Receivable 6,000
Supplies 8,000
Equipment 75,000
Problem 2-8B (LO 2-4, 2-5, 2-6)
Requirement 1
Entries are numbered for posting.
(1) Nov. 1 Debit Credit
Cash 13,000
(2) Nov. 2
Equipment 3,500
(3) Nov. 4
Supplies 1,000
(4) Nov. 10
Accounts Receivable 9,000
(5) Nov. 15
Accounts Payable 1,100
(6) Nov. 20
Salaries Expense 3,000
(7) Nov. 22
Cash 11,000
(8) Nov. 24
Notes Payable 1,400
(9) Nov. 26
Cash 7,000
Problem 2-8B (connued)
(10) Nov. 28
Utilities Expense 1,100
(11) Nov. 30
Rent Expense 5,000