CHAPTER 2 Analyzing Transactions
Prob. 2-1B
1. and 2.
(a) 18,000 (b) 2,500 (n) 300 (b) 17,000
(g) 12,000 (c) 3,150 Bal. 16,700
(d) 1,450
(f) 2,400
(h) 1,800 (a) 18,000
Bal. 14,475
(k) 15,650 (c) 3,150
(d) 1,450 (l) 2,800
Cash
Accounts Receivable Rent Expense
Ken Jones, Capital
Notes Payable
Salary ExpenseSupplies
CHAPTER 2 Analyzing Transactions
Prob. 2-1B (Concluded)
3.
Debit Credit
Balances Balances
Cash 14,475
Accounts Receivable 15,650
Supplies 1,450
Prepaid Insurance 2,400
Automobiles 19,500
Equipment 6,500
Accounts Payable 7,200
Notes Payable 16,700
4. Net income, $18,075 ($27,650 – $3,150 – $2,800 – $2,500 – $550 – $575)
Ken Jones, Architect
Unadjusted Trial Balance
April 30, 20Y4
CHAPTER 2 Analyzing Transactions
Prob. 2-2B
1. (a) Cash 17,500
Rafael Masey, Capital 17,500
(b) Supplies 2,300
Accounts Payable 2,300
(e) Accounts Payable 1,150
Cash 1,150
(f) Rafael Masey, Drawing 1,800
Cash 1,800
CHAPTER 2 Analyzing Transactions
Prob. 2-2B (Continued)
2.
(a) 17,500 (d) 3,000 (c) 13,300
(c) 13,300 (e) 1,150
(b) 2,300 (i) 1,050 (h) 2,800
Bal. 1,250
(e) 1,150 (b) 2,300 (g) 1,500
Bal. 1,150
Cash Fees Earned
Supplies Office Salaries Expense
Automobile Expense
Accounts Payable
CHAPTER 2 Analyzing Transactions
Prob. 2-2B (Concluded)
3.
Debit Credit
Balances Balances
Cash 20,150
Supplies 1,250
Accounts Payable 1,150
Rafael Masey, Capital 17,500
4. a. $13,300
b. $8,750 ($3,000 + $2,800 + $1,500 + $1,050 + $400)
c. $4,550 ($13,300 – $8,750)
Planet Realty
Unadjusted Trial Balance
August 31, 20Y5
CHAPTER 2 Analyzing Transactions
Prob. 2-3B
1.
Page 1
Post.
Ref. Debit Credit
20Y6
Oct. 1 Cash 11 18,000
Jay Pryor, Capital 31 18,000
13 Equipment 16 10,500
Accounts Payable 22 10,500
14 Supplies 13 2,100
Cash 11 2,100
Page 2
Post.
Ref. Debit Credit
20Y6
Oct. 21 Accounts Payable 22 2,000
Cash 11 2,000
24 Accounts Receivable 12 14,150
Fees Earned 41 14,150
Date
Date
JOURNAL
JOURNAL
Description
Description
CHAPTER 2 Analyzing Transactions
Prob. 2-3B (Continued)
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
^
27 Miscellaneous Expense 59 1,100
Cash 11 1,100
29 Cash 11 7,600
Accounts Receivable 12 7,600
2.
Account No. 11
Post.
Item Ref. Debit Debit Credit
20Y6
Oct. 1 1 18,000 18,000
21 2 12,500
27 2 10,260
27 2 9,160
Account No. 12
Post.
Item Ref. Debit Debit Credit
Balance
2,000
2,240
1,100
GENERAL LEDGER
Balance
CreditDate
Account:
Account: Cash
Accounts Receivable
Date Credit
CHAPTER 2 Analyzing Transactions
Prob. 2-3B (Continued)
Account No. 13
Post.
Item Ref. Debit Credit Debit Credit
20Y6
Oct. 14 1 2,100 2,100
Account No. 14
Account No. 16
Post.
Item Ref. Debit Credit Debit Credit
20Y6
Oct. 13 1 10,500 10,500
Account No. 18
Account No. 21
Post.
Item Ref. Debit Credit Debit Credit
20Y6
Oct. 10 1 20,000 20,000
Account No. 22
Account: Supplies
Account: Prepaid Insurance
Account: Equipment
Date
Date
Date
Account: Truck
Account: Notes Payable
Account: Accounts Payable
Balance
Balance
Balance
CHAPTER 2 Analyzing Transactions
Prob. 2-3B (Continued)
Account No. 31
Post.
Item Ref. Debit Credit Debit Credit
20Y6
Oct. 1 1 18,000 18,000
Account No. 32
Oct. 31 2 3,500 3,500
Account No. 41
Post.
Item Ref. Debit Credit Debit Credit
20Y6
Oct. 15 1 8,950 8,950
24 2 14,150 23,100
Account No. 51
Account No. 53
Post.
Item Ref. Debit Credit Debit Credit
20Y6
Oct. 4 1 3,000 3,000
Account No. 54
Balance
Date
Account: Rent Expense
Balance
Account: Jay Pryor, Capital
Account: Wages Expense
Account: Jay Pryor, Drawing
Account: Fees Earned
Date
Balance
Date
Account: Utilities Expense
CHAPTER 2 Analyzing Transactions
Prob. 2-3B (Continued)
Account No. 55
Post.
Item Ref. Debit Credit Debit Credit
20Y6
Oct. 26 2 700 700
Account No. 59
Balance
Date
Account: Truck Expense
Account: Miscellaneous Expense
CHAPTER 2 Analyzing Transactions
Prob. 2-3B (Concluded)
3.
Account Debit Credit
No. Balances Balances
Cash 11 8,460
Accounts Receivable 12 6,550
Supplies 13 2,100
Jay Pryor, Drawing 32 3,500
Fees Earned 41 23,100
Wages Expense 51 4,800
Rent Expense 53 3,000
Utilities Expense 54 2,240
Truck Expense 55 700
Miscellaneous Expense 59 1,100
70,300 70,300
4. $11,260 ($23,100 – $4,800 – $3,000 – $2,240 – $700 – $1,100)
5. Some supplies may have been used during October, but no supplies expense
has been recorded.
As will be discussed in Chapter 3, adjustments are necessary at the end of the
Pioneer Designs
Unadjusted Trial Balance
October 31, 20Y6
CHAPTER 2 Analyzing Transactions
Prob. 2-4B
2. and 3.
Page 18
Post.
Ref. Debit Credit
20Y7
Aug. 1 Office Supplies 14 3,150
Accounts Payable 21 3,150
5 Prepaid Insurance 13 12,000
Cash 11 12,000
9 Accounts Payable 21 400
Office Supplies 14 400
Page 19
Post.
Ref. Debit Credit
20Y7
Aug. 29 Miscellaneous Expense 59 1,700
Cash 11 1,700
30 Automobile Expense 54 2,500
Cash 11 2,500
JOURNAL
Date
Date
JOURNAL
Description
Description
CHAPTER 2 Analyzing Transactions
Prob. 2-4B (Continued)
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
^
31 Accounts Receivable 12 183,500
Fees Earned 41 183,500
31 Land 16 75,000
Cash 11 7,500
Notes Payable 23 67,500
1. and 3.
Account No. 11
Post.
Item Ref. Debit Debit Credit
20Y7
Aug. 1 Balance 52,500
2 18 45,300
3 18 83,900 129,200
31 19 40,250
31 19 32,750
31 19 31,750
31 19 5,000 36,750
Account No. 12
Post.
Item Ref. Debit Debit Credit
20Y7
Balance
Balance
GENERAL LEDGER
CreditDate
Account:
Account: Accounts Receivable
Cash
7,200
53,000
7,500
1,000
Date Credit
CHAPTER 2 Analyzing Transactions
Prob. 2-4B (Continued)
Account No. 13
Account No. 14
Post.
Item Ref. Debit Credit Debit Credit
20Y7
Aug. 1 Balance 2,800
1 18 3,150 5,950
9 18 400 5,550
Account No. 16
Account No. 21
Post.
Item Ref. Debit Credit Debit Credit
20Y7
Aug. 1 Balance 21,000
1 18 3,150 24,150
9 18 400 23,750
23 18 13,750 10,000
Account No. 22
Account No. 23
Post.
Item Ref. Debit Credit Debit Credit
20Y7
Aug. 31 19 67,500 67,500
Balance
Date
Balance
Date
Account: Accounts Payable
Balance
Account: Unearned Rent
Account: Notes Payable
Date
Account: Prepaid Insurance
Account: Office Supplies
Account: Land
CHAPTER 2 Analyzing Transactions
Prob. 2-4B (Continued)
Account No. 31
Post.
Item Ref. Debit Credit Debit Credit
20Y7
Aug. 1 Balance 87,500
Account No. 32
Account No. 41
Post.
Item Ref. Debit Credit Debit Credit
20Y7
Aug. 1 Balance 591,500
31 19 183,500 775,000
Account No. 51
Account No. 52
Post.
Item Ref. Debit Credit Debit Credit
20Y7
Aug. 1 Balance 49,000
2 18 7,200 56,200
Account No. 53
Post.
Balance
Balance
Date
Account: Salary and Commission Expense
Date
Balance
Account: Fees Earned
Account: Advertising Expense
Account: Rent Expense
Account: Cindy Getman, Capital
Balance
Date
Account: Cindy Getman, Drawing
CHAPTER 2 Analyzing Transactions
Prob. 2-4B (Continued)
Account No. 54
Post.
Item Ref. Debit Credit Debit Credit
20Y7
Aug. 1 Balance 15,750
30 19 2,500 18,250
Account No. 59
4.
Account Debit Credit
No. Balances Balances
Cash 11 36,750
Accounts Receivable 12 199,700
Prepaid Insurance 13 24,600
Unearned Rent 22 5,000
Notes Payable 23 67,500
Cindy Getman, Capital 31 87,500
Cindy Getman, Drawing 32 45,800
Fees Earned 41 775,000
Salary and Commission Expense 51 436,000
Rent Expense 52 56,200
Account: Automobile Expense
Account: Miscellaneous Expense
Date
Balance
Valley Realty
Unadjusted Trial Balance
August 31, 20Y7