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537
PROBLEMS
P–1
1.
(a) Cash ...................................................................... 20,000
Common Stock ............................................... 20,000
538
P–1, Concluded
2.
Cash Sales Commissions
(a) 20,000
(d) 3,800 (c) 12,250
Supplies Office Salaries Expense
Accounts Payable Automobile Expense
Common Stock Supplies Expense
3. VALLEY REALTY
Trial Balance
March 31, 20Y1
Debit Credit
Balances Balances
Cash .................................................................................... 19,850
539
P–2
2.
20Y4
Nov. 1 Office Supplies ....................................... 2,100
Accounts Payable .............................. 2,100
540
P–2, Continued
1. and 3. Cash
20Y4
Nov. 1 Bal.
33,920
Nov. 2
4,000
Accounts Receivable
20Y4
Prepaid Insurance
20Y4
Office Supplies
20Y4
541
P–2, Continued
Land
20Y4
Accounts Payable
20Y4
Unearned Rent
20Y4
Notes Payable
20Y4
542
P–2, Continued
Dividends
20Y4
Fees Earned
Salary and Commission Expense
20Y4
Common Stock
Retained Earnings
543
P–2, Continued
Rent Expense
20Y4
Advertising Expense
Automobile Expense
20Y4
Miscellaneous Expense
544
P–2, Concluded
4.
APPLE REALTY
Trial Balance
November 30, 20Y4
Debit Credit
Balances Balances
Cash .................................................................................... 18,170
Accounts Receivable......................................................... 108,200
