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f. 1,740 j. 1,080 e. 330
1,080 c. 190 Bal. 660
4,300 a. 3,600 h. 330 e. 330
Bal. 860
a. 13,600 m. 300 f. 1,740
Utilities Expense
1 and 2.
J. Lopez, Capital
a.
Accounts Payable
J. Lopez, Withdrawals Tuition Revenue
Rent Expense
d.
Computers
j.
2605,700 b.
a.
Cash
P3. Transaction Analysis, T Accounts, and Trial Balance
Accounts Receivable Supplies
Salaries Expense
Office Equipment
No entry
2-18
© 2014 Cengage Learning. All Rights Reserved. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.
3.
Cash 5,130
Accounts Receivable 660
Supplies 330
4.
P3. Transaction Analysis, T Accounts, and Trial Balance (Concluded)
Lopez Office Training
Trial Balance
(Current Date)
The revenues were $1,740, and only $1,080 of cash was received from those revenues.
The company accepts credit sales to accommodate its students and encourage them
2-19
© 2014 Cengage Learning. All Rights Reserved. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.
1. 2014
April 2 14,400
For initial owner investment in Patel Rentals
3 300
To purchase supplies on account
4 5,000
To purchase bicycles; made partial payment
and agreed to pay the rest later
5 5,800
To purchase shed to store bicycles
8 800
To install shed
9
10 150
To pay for cleanup
13 1,940
To record rentals made for cash
17 300
To pay for supplies purchased on April 3
18 110
To repair bicycles
23 220
To bill company for rentals
25 200
To pay monthly concession fee
27 1,920
To record rentals made for cash
29 480
To pay wages of assistant
30 1,000
To disburse a cash withdrawal
Cash
Bicycles
Wages Expense
S. Patel, Withdrawals
Accounts Receivable
Concession Fee Expense
Repair Expense
Shed
Shed
Supplies
P4. Transaction Analysis, Journal Form, T Accounts, and Trial Balance
Cash
No entry
Cash
Maintenance Expense
Accounts Payable
2-20
© 2014 Cengage Learning. All Rights Reserved. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.
14,400 4/4 2,400 4/23 220 4/3 300
7,020
5,800 4/4 5,000 4/17 300 4/3 300
4/2 14,400 4/30 1,000 4/13 1,940
480 4/10 150 4/18 110
2.
S. Patel, Withdrawals
Concession Fee Expense
4/29
Wages Expense Maintenance Expense Repair Expense
S. Patel, Capital Rental Revenue
Accounts Payable
Bal.
Shed Bicycles
4/5
Cash Supplies
P4. Transaction Analysis, Journal Form, T Accounts, and Trial Balance (Continued)
Accounts Receivable
4/2
2-21
© 2014 Cengage Learning. All Rights Reserved. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.
3.
7,020
220
4.
April 3 and 10 are the recognition points for these transactions. April 3 is the recog-
nition point for the purchase of supplies, because it is on April 3 when the title to
P4. Transaction Analysis, Journal Form, T Accounts, and Trial Balance (Concluded)
Cash
Accounts Receivable
April 30, 2014
Patel Rentals
Trial Balance
The supplies purchased on April 3 are classified as an asset, Supplies, because the
supplies are not used immediately but will be used up in the future. The purchase
of cleaning work is classified as owner's equity, Maintenance Expense, because it
2-22
© 2014 Cengage Learning. All Rights Reserved. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.
Page 22
Post.
Ref. Debit Credit
2 514 650
To pay September rent
3 111 2,300
To record receipt of cash on account
7
10 113 2,800
To bill customers for services
12 212 1,300
To pay on account
14 116 380
To purchase supplies on credit
17 212 80
To return supplies for credit
19 111 4,800
To record receipt of payment for
services
24 512 250
To pay September utility bill
26 516 700
To record receipt of September
advertising bill
29 113 2,700
To bill customer for services
30 511 3,800
To pay salaries for September
30 313 1,200
To record a withdrawal
D. Guetta, Withdrawals
Salaries Expense
Utilities Expense
Accounts Receivable
Advertising Expense
Cash
Office Supplies
Accounts Receivable
Accounts Payable
P5. Transaction Analysis, General Journal, Ledger Accounts, and Trial Balance
2014
Rent ExpenseSept.
Cash
3. (Requirements 1, 2, 4, and 5 follow)
General Journal
Date Description
Accounts Payable
No entry
2-23
© 2014 Cengage Learning. All Rights Reserved. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.
Ref. Debit Credit Debit Credit
31 10,590
2 J22 650 9,940
Ref. Debit Credit Debit Credit
31 5,500
3 J22 2,300 3,200
Ref. Debit Credit Debit Credit
31 610
Ref. Debit Credit Debit Credit
31 4,200
2014
Date
Aug. Balance
Post. Balance
Item
Account No. 146Office Equipment
Aug. Balance
Item
2014
Office Supplies Account No. 116
Balance
Balance
2014
Aug.
P5. Transaction Analysis, General Journal, Ledger Accounts, and Trial Balance (Continued)
1, 2, and 4.
Balance
Item
Account No. 111Cash
Date
2014
Aug. Balance
Accounts Receivable
Sept.
Account No. 113
ItemDate
Date
Sept.
Balance
Post.
Post.
Post.
2-24
© 2014 Cengage Learning. All Rights Reserved. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.
Ref. Debit Credit Debit Credit
31 2,600
12 J22 1,300 1,300
Ref. Debit Credit Debit Credit
Ref. Debit Credit Debit Credit
Ref. Debit Credit Debit Credit
10 J22 2,800 2,800
Ref. Debit Credit Debit Credit
Ref. Debit Credit Debit Credit
Utilities Expense
Marketing Fees Account No. 411
Balance
Post.
2014
Account No. 511Salaries Expense
Item
Sept.
Item
Balance
2014
Post. Balance
Account No. 512
2014
Date
Date
Date
Post.
Item
Post.
Aug.
Balance
Item
Account No. 212Accounts Payable
P5. Transaction Analysis, General Journal, Ledger Accounts, and Trial Balance (Continued)
Sept.
Balance
2014
Account No. 311D. Guetta, Capital
Post.
Item
Balance
2014
D. Guetta, Withdrawals Account No. 313
Date
2014
Item
Balance
Date
Date
Post.
2-25
© 2014 Cengage Learning. All Rights Reserved. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.
Ref. Debit Credit Debit Credit
Ref. Debit Credit Debit Credit
5.
10,490
8,700
6.
2014
Balance
Nordtown Company
Trial Balance
ItemDate
Post.
September 30, 2014
Cash
Accounts Receivable
The revenues were $10,300, and only $4,800 of cash was received from those revenues.
Also, the company received $2,300 of cash for services provided in previous months.
P5. Transaction Analysis, General Journal, Ledger Accounts, and Trial Balance (Continued)
Advertising Expense Account No. 516
Balance
Date Item
Post.
2014
Account No. 514Rent Expense
2-26
© 2014 Cengage Learning. All Rights Reserved. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.
