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CHAPTER 2 Analyzing Transactions
Prob. 2–2A
1. (a) Cash 23,500
Capital Stock 23,500
(b) Rent Expense 4,000
Cash 4,000
2-21
CHAPTER 2 Analyzing Transactions
Prob. 2–2A (Continued)
2.
(a) 23,500 (b) 4,000 (e) 16,750
(e) 16,750 (d) 675
Cash Sales Commissions
2-22
CHAPTER 2 Analyzing Transactions
Prob. 2–2A (Concluded)
3.
Debit Credit
Balances Balances
Cash 30,025
4. a. $16,750
LEOPARD REALTY
Unadjusted Trial Balance
January 31, 2014
2-23
CHAPTER 2 Analyzing Transactions
Prob. 2–3A
1.
Page 1
Post.
Ref. Debit Credit
2014
June 1 Cash 11 21,500
15 Prepaid Insurance 14 2,700
Cash 11 2,700
Page 2
Post.
Ref. Debit Credit
2014
Date
Date
JOURNAL
JOURNAL
Description
Description
2-24
CHAPTER 2 Analyzing Transactions
Prob. 2–3A (Continued)
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
30 Cash 11 7,800
Accounts Receivable 12 7,800
2.
Account No. 11
Post.
Item Ref. Debit Debit Credit
2014
June 1 1 21,500 21,500
Account No. 12
Post.
Item Ref. Debit Debit Credit
2014
Account: Cash
GENERAL LEDGER
Date
Balance
Balance
Credit
Date Credit
Account: Accounts Receivable
2-25
CHAPTER 2 Analyzing Transactions
Prob. 2–3A (Continued)
Account No. 13
Post.
Item Ref. Debit Credit Debit Credit
2014
Account No. 16
Post.
Item Ref. Debit Credit Debit Credit
2014
June 6 1 8,500 8,500
Account No. 18
Post.
Item Ref. Debit Credit Debit Credit
Account: Truck
Balance
Date
Balance
Balance
Account: Supplies
Account: Equipment
Date
Date
2-26
CHAPTER 2 Analyzing Transactions
Prob. 2–3A (Continued)
Account No. 31
Post.
Item Ref. Debit Credit Debit Credit
2014
Account No. 41
Post.
Item Ref. Debit Credit Debit Credit
2014
June 12 1 9,000 9,000
23 1 13,650 22,650
Account No. 51
Post.
Item Ref. Debit Credit Debit Credit
2014
Balance
Date
Balance
Date
Balance
Account: Fees Earned
Account: Wages Expense
Date
Account: Capital Stock
2-27
CHAPTER 2 Analyzing Transactions
Prob. 2–3A (Continued)
Account No. 55
Post.
Item Ref. Debit Credit Debit Credit
2014
Balance
Date
Account: Truck Expense
2-28
CHAPTER 2 Analyzing Transactions
Prob. 2–3A (Concluded)
3.
Debit Credit
Balances Balances
Cash 11,020
Accounts Receivable 5,850
5. As will be discussed in Chapter 3, various adjustments are normally required at
the end of the accounting period. For example, adjustments for supplies used,
FIRST-CLASS DESIGNS
Unadjusted Trial Balance
June 30, 2014
2-29
CHAPTER 2 Analyzing Transactions
Prob. 2–4A
2. and 3.
Page 18
Post.
Ref. Debit Credit
2014
17 Accounts Payable 21 6,450
Cash 11 6,450
Page 19
Post.
Ref. Debit Credit
2014
Apr. 27 Cash 11 2,500
Salary and Commission Expense 51 2,500
Date
Date
JOURNAL
JOURNAL
Description
Description
2-30
CHAPTER 2 Analyzing Transactions
Prob. 2–4A (Continued)
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
^
30 Accounts Receivable 12 57,000
1. and 3.
Account No. 11
Post.
Item Ref. Debit Debit Credit
2014
Apr. 1 Balance 926,300
1 18 19,800
Account No. 12
Post.
Item Ref. Debit Debit Credit
2014
Balance
Account: Accounts Receivable
Date Credit
6,500
GENERAL LEDGER
Balance
CreditDate
Account: Cash
2-31
CHAPTER 2 Analyzing Transactions
Prob. 2–4A (Continued)
Account No. 13
Post.
Item Ref. Debit Credit Debit Credit
2014
Account No. 14
Post.
Item Ref. Debit Credit Debit Credit
2014
Account No. 16
Post.
Item Ref. Debit Credit Debit Credit
2014
Account No. 21
Post.
Item Ref. Debit Credit Debit Credit
2014
Account No. 22
Post.
Item Ref. Debit Credit Debit Credit
2014
Account No. 23
Post.
Item Ref. Debit Credit Debit Credit
2014
Date
Account: Prepaid Insurance
Account: Office Supplies
Account: Land
Date
Date
Date
Balance
Date
Balance
Account: Unearned Rent
Account: Notes Payable
Balance
Account: Accounts Payable
Balance
Balance
Balance
Date
2-32
CHAPTER 2 Analyzing Transactions
Prob. 2–4A (Continued)
Account No. 31
Post.
Item Ref. Debit Credit Debit Credit
2014
Account No. 32
Post.
Item Ref. Debit Credit Debit Credit
2014
Account No. 33
Post.
Item Ref. Debit Credit Debit Credit
Account No. 41
Post.
Item Ref. Debit Credit Debit Credit
2014
Account No. 51
Post.
Item Ref. Debit Credit Debit Credit
2014
Account No. 52
Post.
Item Ref. Debit Credit Debit Credit
2014
Balance
Date
Account: Rent Expense
Balance
Balance
Balance
Date
Account: Retained Earnings
Account: Capital Stock
Account: Salary and Commission Expense
Account: Dividends
Account: Fees Earned
Date
Date
Balance
Date
Balance
Date
2-33
CHAPTER 2 Analyzing Transactions
Prob. 2–4A (Continued)
Account No. 53
Post.
Item Ref. Debit Credit Debit Credit
2014
Account No. 54
Post.
Item Ref. Debit Credit Debit Credit
2014
Account No. 59
Post.
Item Ref. Debit Credit Debit Credit
2014
Balance
Date
Balance
Account: Automobile Expense
Account: Miscellaneous Expense
Date
Balance
Date
Account: Advertising Expense
2-34
CHAPTER 2 Analyzing Transactions
Prob. 2–4A (Concluded)
4.
Debit Credit
Balances Balances
Cash 19,050
Accounts Receivable 66,200
5. (a) The unadjusted trial balance in (4) still balances, since the debits equaled
Page 19
Post.
Ref. Debit Credit
2014
JOURNAL
Description
ELITE REALTY
Unadjusted Trial Balance
April 30, 2014
Date
2-35
1.
Debit Credit
Balances Balances
Cash* 22,400
Accounts Receivable 48,000
2. No. The trial balance indicates only that the debits and credits are equal. Any errors
THE COLBY GROUP
Unadjusted Trial Balance
August 31, 2014
2-36
CHAPTER 2 Analyzing Transactions
Prob. 2–1B
1. and 2.
(a) 18,000 (b) 2,500 (h) 1,800 (e) 6,500
(g) 12,000 (c) 3,150 (j) 2,500
Cash
Accounts Receivable Rent Expense
Accounts Payable
2-37
CHAPTER 2 Analyzing Transactions
Prob. 2–1B (Concluded)
3.
Debit Credit
Balances Balances
Cash 14,475
Accounts Receivable 15,650
JONES ARCHITECTS
Unadjusted Trial Balance
April 30, 2014
2-38
CHAPTER 2 Analyzing Transactions
Prob. 2–2B
1. (a) Cash 17,500
Capital Stock 17,500
(b) Supplies 2,300
Accounts Payable 2,300
2-39
CHAPTER 2 Analyzing Transactions
Prob. 2–2B (Continued)
2.
(a) 17,500 (d) 3,000 (c) 13,300
(c) 13,300 (e) 1,150
Cash Sales Commissions
2-40
