Unlock document.
This document is partially blurred.
Unlock all pages and 1 million more documents.
Get Access
b.
Ma
y
1 400,000
Ca
p
ital Stock 400,000
9 130,000
Cash 130,000
16 50,000
24 1,900
300
Veterinar
y
Service Revenue 2,200
28 100
Accounts Receivable 100
31 2,800
Cash 2,800
Purchased office supplies.
Office Fixtures and Equipment
Cash
Medical Instruments
Purchased land and building.
Purchased medical instruments.
Salary Expense
Cash
Recorded veterinary service revenue earned.
Accounts Receivable
Collected cash for May 24 services.
Cash
PROBLEM 3.5
A
DR. SCHEKTER, DVM (continued)
2015
General Journal
c.
May 1 400,000 May 4 100,000 May 4 150,000
PROBLEM 3.5
A
DR. SCHEKTER, DVM (continued)
Notes Payable
Cash
d.
144,200$
200
5,000
130,000
PROBLEM 3.5
A
DR. SCHEKTER, DVM
May 31, 2015
Cash
DR. SCHEKTER, DVM (continued)
Trial Balance
Accounts receivable
Medical instruments
Office supplies
Total Assets: 144,200$ 200
5,000
130,000 50,000 70,000
180,000 579,400$
Accounts receivable
Office supplies
Cash
PROBLEM 3.5
A
DR. SCHEKTER, DVM (concluded)
e.
Medical instruments
Land
Office fixtures and equipment
Building
Total assets
Total Liabilities:
a.
Jul
y
18 1,500
23 2,000
Cash 400
Notes
p
a
y
able 1,600
26 200
Mowin
g
Revenue 200
Payment is due July 30.
Accounts Receivable
services. Payment is due August 1.
Billed Golf View Condominium for mowing
PROBLEM 3.6
A
50 Minutes, Strong
2015 Cash
General Journal
DONEGAN'S LAWN CARE SERVIC
E
Billed Lost Creek Cemetery for mowing services.
Mowing Equipment
Purchased mowing equipment, paying $400 cash
and issuing a $1,600 note payable for the balance.
b.
July 31 Bal. 1,145 July 31 Bal. 200
July 24 25
July 31 Bal. 25
PROBLEM 3.6
A
DONEGAN'S LAWN CARE SERVICE (continued)
Accounts Receivable
Mowing Equipment Office Supplies
Cash
c.
1,145$
200
100
2,000
d.
Donegan’s Retained Earnings balance is zero because the company has been in business for only
two weeks and has not yet updated the Retained Earnings account for any revenue or expense
activities. The procedure to update the Retained Earnings account is discussed in Chapter 5.
PROBLEM 3.6
A
DONEGAN'S LAWN CARE SERVICE
Mowing equipment
DONEGAN'S LAWN CARE SERVICE
(concluded)
Accounts receivable
Office supplies
Trial Balance
July 31, 2015
Cash
a.
June 4 1,500
Notes Pa
y
able 1,500
9 1,600
Accounts Receivable 1,600
Borrowed cash from bank by issuing a note
Cash
Collected $1,600 from Nina Lesher on account.
payable.
Cash
PROBLEM 3.7
A
50 Minutes, Strong
2015
General Journal
SANLUCAS, INC.
b. Cash
June 30 bal. 5,600 June 30 bal. 2,650
Inspection Supplies Accounts Payable
Notes Payable Dividends
Capital Stock Retained Earnings
Inspection Revenue Salaries Expense
Advertising Expense Testing Expense
Accounts Receivable
PROBLEM 3.7
A
SANLUCAS, INC. (continued)
c.
5,600$
2,650
950
PROBLEM 3.7
A
SANLUCAS, INC. (concluded)
Trial Balance
SANLUCAS, INC.
Inspection supplies
June 30, 2015
Cash
Accounts receivable
