Exercise 2-23A, Obj. 6
Construct and use a trial balance
Student Name
Course Name
Student ID:
Date:
Balance Balance
Common stock………….….. 3,400$ Dividends…………………….. 16,800$
Accounts payable ………….. 2,200 Utilities expense ………….... 4,900
Service revenue……………… 5,100 Accounts receivable……….. 21,100
Land……….…………………… 600 Delivery expense …………… 30,400
Note payable………….…….. 2,400 Retained earnings….………. 24,000
Cash……….…………………… 8,800 Salary expense………………. 18,700
Financial Accounting
The accounts of Custom Patio Service, Inc., follow with their normal balances at April 30, 2016. The accounts
are listed in no particular order.
Account
Account
Students: Please fill-in areas as required.
Exercise 2-23A
Instructions:
Requirement 1
DEBIT CREDIT
Cash 8,800$
Accounts payable 2,200$
Dividends 16,800$
Total………………………………………………………………………………… FORMULA FORMULA
Requirement 2
Service revenue…………………………………………………………………………………………….. 5,100$
Total expenses …………………………………………………………………………………. FORMULA
Net income………………………………………………………………………………………………… FORMULA
1. Prepare the company’s trial balance at April 30, 2016, listing accounts in proper sequence, as illustrated in
the chapter. For example, Accounts Receivable comes before Land. List the expense with the largest balance
first, the expense with the next largest balance second, and so on.
Trial Balance
Test Your Knowledge
Custom Patio Service, Inc.
2. Prepare the financial statement for the month ended April 30, 2016, that will tell the
company the results of operations for the month.
April 30, 2016
ACCOUNT
Custom Patio Service, Inc.
Income Statement
April 30, 2016
Exercise 2-23A, Obj. 6
Construct and use a trial balance
Student Name
Course Name
Student ID:
Date:
Balance Balance
Common stock………….….. 3,400$ Dividends…………………….. 16,800$
Accounts payable ………….. 2,200 Utilities expense ………….... 4,900
Financial Accounting
The accounts of Deluxe Patio Service, Inc., follow with their normal balances at June 30, 2012. The accounts
are listed in no particular order.
Students: Please fill-in areas as required.
Account
Account
BU 122 ID 5003
Service revenue……………… 5,100 Accounts receivable……….. 21,100
Note payable………….…….. 2,400 Retained earnings….………. 24,000
Exercise 2-21A
Instructions:
Requirement 1
DEBIT CREDIT
Cash 8,800$
Accounts receivable 21,100
Land 600
Requirement 2
Service revenue…………………………………………………………………………………………….. 5,100$
18,700
30,400
Test Your Knowledge
Deluxe Patio Service, Inc.
Trial Balance
2. Prepare the financial statement for the month ended June 30, 2012, that will tell the company
the results of operations for the month.
1. Prepare the company’s trial balance at June 30, 2012, listing accounts in proper sequence, as illustrated in
the chapter. For example, Accounts Receivable comes before Land. List the expense with the largest balance
first, the expense with the next largest balance second, and so on.
ACCOUNT
June 30, 2012
Deluxe Patio Service, Inc.
Income Statement
Month Ended June 30, 2012
BU 122 ID 5003
Accounts payable 2,200$
Note payable 2,400$
Common stock 3,400$
Retained earnings 24,000$
Service revenue 5,100$
Salary expense 18,700
Utilities expense 4,900
Exercise 2-24A, Obj. 6
Construct and use a trial balance
Student Name
Course Name
Student ID:
Date:
Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $4,300
Accounts receivable . . . . . . . . . . . . . . . . 12,700
Inventory . . . . . . . . . . . . . . . . . . . . . . . . . 17,300
Supplies . . . . . . . . . . . . . . . . . . . . . . . . . . 400
Land . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51,000
Accounts payable . . . . . . . . . . . . . . . . . . 11,500$
Common stock . . . . . . . . . . . . . . . . . . . . . 47,100
Service revenue . . . . . . . . . . . . . . . . . . . . 33,900
Salary expense . . . . . . . . . . . . . . . . . . . . . 2,000
Rent expense . . . . . . . . . . . . . . . . . . . . . . 1,200
Utilities expense . . . . . . . . . . . . . . . . . . . . 1,000
Total 89,900$ 92,500$
The accounting records hold the following errors:
a. Recorded a $100 cash revenue transaction by debiting Accounts Receivable. The credit
entry was correct.
b. Posted a $1,000 credit to Accounts Payable as $100.
c. Did not record utilities expense or the related account payable in the amount of $500.
d. Understated Common Stock by $200.
e. Omitted Insurance Expense of $3,700 from the trial balance.
Financial Accounting
The trial balance of Garvey, Inc., at September 30, 2012, does not balance:
Students: Please fill-in areas that are
shaded. This template uses drop-down
menus to select accounts.
BU#xxx ID000555
Exercise 2-24A
Instructions
Prepare the correct trial balance at September 30, 2012, complete with a heading. Journal
entries are not required.
ACCOUNT DEBIT CREDIT
Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Accounts receivable . . . . . . . . . . . . . . . .
Inventory . . . . . . . . . . . . . . . . . . . . . . . . .
Supplies . . . . . . . . . . . . . . . . . . . . . . . . . .
Land . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Accounts payable . . . . . . . . . . . . . . . . . .
Common stock . . . . . . . . . . . . . . . . . . . . .
Service revenue . . . . . . . . . . . . . . . . . . . .
Salary expense . . . . . . . . . . . . . . . . . . . . .
Enter name of account
Rent expense . . . . . . . . . . . . . . . . . . . . . .
Utilities expense . . . . . . . . . . . . . . . . . . . .
Total $ – $ –
*Computations:
Harper, Inc.
Trial Balance
September 30, 2016
Test Your Knowledge
BU#xxx ID000555
Exercise 2-24A, Obj. 6
Construct and use a trial balance
Student Name
Course Name
Student ID:
Date:
Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $4,300
Accounts receivable . . . . . . . . . . . . . . . . 12,700
The accounting records hold the following errors:
a. Recorded a $100 cash revenue transaction by debiting Accounts Receivable. The credit
entry was correct.
b. Posted a $1,000 credit to Accounts Payable as $100.
d. Understated Common Stock by $200.
e. Omitted Insurance Expense of $3,700 from the trial balance.
Financial Accounting
The trial balance of Garvey, Inc., at September 30, 2012, does not balance:
Students: Please fill-in areas that are
shaded. This template uses drop-down
menus to select accounts.
BU#xxx ID000555
Supplies . . . . . . . . . . . . . . . . . . . . . . . . . . 400
Land . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51,000
Exercise 2-24A
Instructions
Prepare the correct trial balance at September 30, 2012, complete with a heading. Journal
entries are not required.
ACCOUNT DEBIT CREDIT
Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$ 4,400 *
Accounts receivable . . . . . . . . . . . . . . . .
12,600 *
*Computations:
Cash: $4,300 + $100 = $4,400
Accounts Receivable: $12,700 − $100 = $12,600
Accounts Payable: $11,500 + $1,000 − $100 + $500 = $12,900
Common Stock: $47,100 + $200 = $47,300
Insurance Expense: $2,000
Utilities Expense: $1,000 + $500 = $1,500
Test Your Knowledge
Harper, Inc.
Trial Balance
September 30, 2016
BU#xxx ID000555
2,000 *
1,500 *
Problem 2-62A, Obj. 1, 2, 3
Analyze the impact of business transactions on accounts;
record (journalize and post) transactions in the books
Student Name
Course Name
Student ID:
Date:
a.
b.
c.
d.
e.
f.
g.
h.
Rodriguez’s business uses the following accounts:
Paid $4,300 on accounts payable.
Purchased supplies on account, $500.
Collected cash from a customer on account, $2,000.
Consulted on the design of a computer system and billed the customer for services
renderes, $4,000.
Recorded the following business expenses for the month: (1) paid office rent – $1,300; (2)
paid advertising – $700.
Financial Accounting
During October 2016, Rodriguez Computing completed the following transactions:
Cash, Accounts Receivable, Supplies, Equipment, Accounts Payable, Common Stock, Retained Earnings,
Dividends, Service Revenue, Rent Expense, and Advertising Expense.
Students: Please fill-in areas that are
shaded. This template uses drop-down
menus to select accounts.
The business received cash of $3,800 and issued common stock to the stockholders.
Performed services for a cutomer and received cash of $6,000
Declared and paid a cash dividend of $2,800.
Problem 2-62A
Instructions
1
2
3
ACCOUNT TITLES AND EXPLANATION DEBIT CREDIT
a. 3,800
Choose account from drop down list
b.
Choose account from drop down list –
c.
Choose account from drop down list
d.
Choose account from drop down list 500
e.
Choose account from drop down list
f.
Choose account from drop down list –
g. 1,300
700
Choose account from drop down list
h.
Choose account from drop down list –
DATE
Choose account from drop-down list
Choose account from drop-down list
Choose account from drop-down list
Choose account from drop-down list
Journalize the October transactions of Rodriguez Computing, Inc.. Explanations are not
required.
Prepare T-Accounts for each account. Insert in each T-account its September 30
balance as given (example: Cash $2,200). Then, post the October transactions to
the T-accounts.
Choose account from drop-down list
Choose account from drop-down list
Choose account from drop-down list
Choose account from drop-down list
Compute the balance in each account.
Choose account from drop-down list
Test Your Knowledge
ACCOUNT TITLES AND EXPLANATION DEBIT CREDIT
DATE
Requirement 2: Chart of Accounts
See listing above
Requirement 3: Determine balance in Accounts
How much Cash?
Total amount owed?
–
Retained Earnings
Rent Expense
Advertising Expense
Dividends
Common Stock
–
Equipment
Cash
Accounts Receivable
2,200
Accounts Payable
Supplies
–
Service Revenue
500
Problem 2-62A, Obj. 4,5
Analyze the impact of business transactions on accounts;
record (journalize and post) transactions in the books
Student Name
Course Name
Student ID:
Date:
a.
b.
c.
d.
e.
f.
g.
h.
Rodriguez’s business uses the following accounts:
The business received cash of $3,800 and issued common stock to the stockholders.
Performed services for a cutomer and received cash of $6,000
Paid $4,300 on accounts payable.
Purchased supplies on account, $500.
Collected cash from a customer on account, $2,000.
Financial Accounting
During October 2016, Rodriguez Computing completed the following transactions:
Students: Please fill-in areas that are
shaded. This template uses drop-down
menus to select accounts.
Cash, Accounts Receivable, Supplies, Equipment, Accounts Payable, Common Stock, Retained Earnings,
Dividends, Service Revenue, Rent Expense, and Advertising Expense.
Consulted on the design of a computer system and billed the customer for services
renderes, $4,000.
Recorded the following business expenses for the month: (1) paid office rent –
$1,300; (2) paid advertising – $700.
Declared and paid a cash dividend of $2,800.
Problem 2-62A
Instructions
1
2
3
ACCOUNT TITLES AND EXPLANATION DEBIT CREDIT
a. 3,800
Common Stock 3,800
Cash
Test Your Knowledge
Journalize the October transactions of Rodriguez Computing, Inc.. Explanations are
not required.
Prepare T-Accounts for each account. Insert in each T-account its September 30
balance as given (example: Cash $2,200). Then, post the October transactions
to the T-accounts.
Compute the balance in each account.
DATE
Cash
Cash
Common Stock 3,800
Requirement 2: Chart of Accounts
See listing above
4,300
7,700
3,900
5,600
3,600
2,000
4,000
Accounts Receivable
Common Stock
2,000
6,000
4,900
2,000
4,900
Cash
2,200
4,300
3,800
10,000
6,200
3,800
Retained Earnings
3,900
2,800
2,800
3,900
6,000
10,000
1,300
1,300