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
5. $20,250, which is the initial investment of $17,500 plus the excess of net income of
PLANET REALTY
Unadjusted Trial Balance
August 31, 2016
2-41
CHAPTER 2 Analyzing Transactions
Prob. 2–3B
1.
Page 1
Post.
Ref. Debit Credit
2016
Cash 11 2,100
15 Prepaid Insurance 14 3,600
Page 2
Post.
Ref. Debit Credit
2016
Oct. 21 Accounts Payable 22 2,000
Cash 11 2,000
Date
Date
JOURNAL
JOURNAL
Description
Description
2-42
CHAPTER 2 Analyzing Transactions
Prob. 2–3B (Continued)
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
^
27 Miscellaneous Expense 59 1,100
Cash 11 1,100
2.
Account No. 11
Post.
Item Ref. Debit Debit Credit
2016
Oct. 1 1 18,000 18,000
4 1 15,000
10 1 11,250
Account No. 12
Post.
Item Ref. Debit Debit Credit
2016
Balance
GENERAL LEDGER
Balance
CreditDate
Account:
Account: Cash
Accounts Receivable
3,000
3,750
Date Credit
2-43
CHAPTER 2 Analyzing Transactions
Prob. 2–3B (Continued)
Account No. 13
Post.
Item Ref. Debit Credit Debit Credit
2016
Account No. 14
Post.
Item Ref. Debit Credit Debit Credit
2016
Account No. 16
Post.
Item Ref. Debit Credit Debit Credit
2016
Account No. 18
Post.
Item Ref. Debit Credit Debit Credit
2016
Account No. 21
Post.
Item Ref. Debit Credit Debit Credit
2016
Oct. 10 1 20,000 20,000
Account No. 22
Post.
Item Ref. Debit Credit Debit Credit
2016
Date
Account: Supplies
Account: Prepaid Insurance
Account: Equipment
Date
Date
Date
Balance
Date
Balance
Account: Notes Payable
Account: Accounts Payable
Balance
Account: Truck
Balance
Balance
Balance
Date
2-44
CHAPTER 2 Analyzing Transactions
Prob. 2–3B (Continued)
Account No. 31
Post.
Item Ref. Debit Credit Debit Credit
2016
Oct. 15 1 8,950 8,950
24 2 14,150 23,100
Account No. 51
Post.
Item Ref. Debit Credit Debit Credit
2016
Oct. 30 2 4,800 4,800
Account No. 53
Post.
Balance
Account: Rent Expense
Balance
Date
Account: Jay Pryor, Capital
Account: Wages Expense
Date
Balance
2-45
CHAPTER 2 Analyzing Transactions
Prob. 2–3B (Continued)
Account No. 55
Post.
Item Ref. Debit Credit Debit Credit
Account No. 59
Post.
Item Ref. Debit Credit Debit Credit
2016
Balance
Date
Balance
Date
Account: Truck Expense
Account: Miscellaneous Expense
2-46
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9%%
?,
CHAPTER 2 Analyzing Transactions
Prob. 2–4B
2. and 3.
Page 18
Post.
Ref. Debit Credit
2016
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
2016
Aug. 29 Miscellaneous Expense 59 1,700
Cash 11 1,700
JOURNAL
Date
Date
JOURNAL
Description
Description
2-48
CHAPTER 2 Analyzing Transactions
Prob. 2–4B (Continued)
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
^
31 Accounts Receivable 12 183,500
Fees Earned 41 183,500
31 Land 16 75,000
1. and 3.
Account No. 11
Post.
Item Ref. Debit Debit Credit
2016
Aug. 1 Balance 52,500
2 18 45,300
3 18 83,900 129,200
5 18 117,200
17 18 109,200
Account No. 12
Post.
Item Ref. Debit Debit Credit
2016
Aug. 1 Balance 100,100
Balance
Balance
GENERAL LEDGER
CreditDate
Account:
12,000
8,000
Account: Accounts Receivable
Cash
7,200
Date Credit
2-49
CHAPTER 2 Analyzing Transactions
Prob. 2–4B (Continued)
Account No. 13
Post.
Item Ref. Debit Credit Debit Credit
2016
Account No. 14
Post.
Item Ref. Debit Credit Debit Credit
2016
Aug. 1 Balance 2,800
Account No. 16
Post.
Item Ref. Debit Credit Debit Credit
2016
Account No. 21
Post.
Item Ref. Debit Credit Debit Credit
2016
Aug. 1 Balance 21,000
Account No. 22
Post.
Item Ref. Debit Credit Debit Credit
2016
Aug. 31 19 5,000 5,000
Account No. 23
Post.
Item Ref. Debit Credit Debit Credit
2016
Balance
Date
Balance
Balance
Balance
Date
Account: Accounts Payable
Balance
Account: Unearned Rent
Account: Notes Payable
Balance
Date
Account: Prepaid Insurance
Account: Office Supplies
Account: Land
Date
Date
Date
2-50
CHAPTER 2 Analyzing Transactions
Prob. 2–4B (Continued)
Account No. 31
Post.
Item Ref. Debit Credit Debit Credit
2016
Account No. 32
Post.
Item Ref. Debit Credit Debit Credit
2016
Account No. 41
Post.
Item Ref. Debit Credit Debit Credit
2016
Aug. 1 Balance 591,500
Account No. 51
Post.
Item Ref. Debit Credit Debit Credit
2016
Aug. 1 Balance 385,000
Account No. 52
Post.
Item Ref. Debit Credit Debit Credit
2016
Account No. 53
Post.
Item Ref. Debit Credit Debit Credit
2016
Account: Advertising Expense
Account: Rent Expense
Balance
Date
Balance
Date
Date
Balance
Date
Account: Salary and Commission Expense
Date
Account: Cindy Getman, Capital
Balance
Date
Balance
Balance
Account: Cindy Getman, Drawing
Account: Fees Earned
2-51
CHAPTER 2 Analyzing Transactions
Prob. 2–4B (Continued)
Account No. 54
Post.
Item Ref. Debit Credit Debit Credit
2016
Account No. 59
Post.
Item Ref. Debit Credit Debit Credit
2016
4.
Debit Credit
Balances Balances
Cash 36,750
Accounts Receivable 199,700
Prepaid Insurance 24,600
Notes Payable 67,500
Cindy Getman, Capital 87,500
Cindy Getman, Drawing 45,800
VALLEY REALTY
Unadjusted Trial Balance
August 31, 2016
Balance
Date
Balance
Account: Automobile Expense
Account: Miscellaneous Expense
Date
2-52
CHAPTER 2 Analyzing Transactions
Prob. 2–4B (Concluded)
5. (a) The unadjusted trial balance in (4) still balances because the debits equaled
the credits in the original journal entry.
(b) The correcting entry for $9,000 ($10,000 – $1,000) would be as follows:
Page 19
Post.
Ref. Debit Credit
2016
Date
JOURNAL
Description
2-53
CHAPTER 2 Analyzing Transactions
Prob. 2–5B
1.
Debit Credit
Balances Balances
Cash* 20,250
Accounts Receivable 56,400
Thad Engelberg, Drawing 39,000
Fees Earned 534,000
Wages Expense 306,000
Rent Expense 62,550
2. No. The trial balance indicates only that the debits and credits are equal.
TECH SUPPORT SERVICES
Unadjusted Trial Balance
January 31, 2016
2-54
CHAPTER 2 Analyzing Transactions
2. and 3.
Page 1
Post.
Ref. Debit Credit
2016
July 1 Cash 11 5,000
Peyton Smith, Capital 31 5,000
2 Cash 11 1,000
Accounts Receivable 12 1,000
3 Cash 11 7,200
Unearned Revenue 23 7,200
5 Office Equipment 17 7,500
Accounts Payable 21 7,500
8 Advertising Expense 55 200
Cash 11 200
Date
CONTINUING PROBLEM
JOURNAL
Description
2-55