CHAPTER 2 Analyzing Transactions
Prob. 2–2A
2-21
CHAPTER 2 Analyzing Transactions
Prob. 2–2A (Continued)
2.
(a) 23,500 (b) 4,000 (e) 16,750
Cash Sales Commissions
2-22
CHAPTER 2 Analyzing Transactions
Prob. 2–2A (Concluded)
3.
Debit Credit
Balances Balances
Cash 30,025
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
Cash 11 1,800
12 Cash 11 9,000
Fees Earned 41 9,000
Page 2
Post.
Ref. Debit Credit
2014
June 29 Utilities Expense 54 2,480
Date
Date
JOURNAL
JOURNAL
Description
Description
2-24
CHAPTER 2 Analyzing Transactions
Prob. 2–3A (Continued)
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
2.
Account No. 11
Post.
Item Ref. Debit Debit Credit
2014
June 1 1 21,500 21,500
Account: Cash
GENERAL LEDGER
Date
Balance
Credit
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.
Account: Truck
Balance
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
Account No. 51
Post.
Item Ref. Debit Credit Debit Credit
2014
June 30 2 5,100 5,100
Balance
Date
Balance
Date
Balance
Account: Fees Earned
Account: Wages Expense
Date
Account: Ellie Hopkins, Capital
2-27
CHAPTER 2 Analyzing Transactions
Prob. 2–3A (Continued)
Account No. 55
Post.
Item Ref. Debit Credit Debit Credit
Balance
Date
Account: Truck Expense
2-28
CHAPTER 2 Analyzing Transactions
Prob. 2–3A (Concluded)
3.
Debit Credit
Balances Balances
Cash 11,020
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
Date
Date
JOURNAL
JOURNAL
Description
Description
2-30
CHAPTER 2 Analyzing Transactions
Prob. 2–4A (Continued)
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
1. and 3.
Account No. 11
Post.
Item Ref. Debit Debit Credit
2014
Apr. 1 Balance 926,300
Account No. 12
Post.
Item Ref. Debit Debit Credit
2014
Balance
Account: Accounts Receivable
Date Credit
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
Account No. 14
Post.
Item Ref. Debit Credit Debit Credit
2014
Account No. 16
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
Account: Unearned Rent
Account: Notes Payable
Balance
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. 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
Account No. 53
Post.
Item Ref. Debit Credit Debit Credit
2014
Balance
Date
Account: Rent Expense
Balance
Balance
Balance
Date
Account: Lester Wagner, Capital
Account: Salary and Commission Expense
Account: Lester Wagner, Drawing
Account: Fees Earned
Date
Date
Balance
Date
Balance
Date
Account: Advertising Expense
2-33
CHAPTER 2 Analyzing Transactions
Prob. 2–4A (Continued)
Account No. 54
Post.
Item Ref. Debit Credit Debit Credit
Account No. 59
Post.
Item Ref. Debit Credit Debit Credit
2014
4.
Debit Credit
Balances Balances
Cash 19,050
Accounts Receivable 66,200
Unadjusted Trial Balance
April 30, 2014
Balance
Date
ELITE REALTY
Balance
Account: Automobile Expense
Account: Miscellaneous Expense
Date
2-34
CHAPTER 2 Analyzing Transactions
Prob. 2–4A (Concluded)
5. (a) The unadjusted trial balance in (4) still balances, since the debits equaled
2-35
CHAPTER 2 Analyzing Transactions
Prob. 2–5A
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 Payable
2-37
CHAPTER 2 Analyzing Transactions
Prob. 2–1B (Concluded)
3.
Debit Credit
Balances Balances
Cash 14,475
Accounts Receivable 15,650
KEN JONES, ARCHITECT
Unadjusted Trial Balance
April 30, 2014
2-38
CHAPTER 2 Analyzing Transactions
Prob. 2–2B
1. (a) Cash 17,500
2-39
CHAPTER 2 Analyzing Transactions
Prob. 2–2B (Continued)
2.
Cash Sales Commissions
2-40