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CHAPTER 2 Analyzing Transactions
Prob. 2–2B (Concluded)
3.
Debit Credit
4. a. $13,300
5. $2,750, which is the excess of net income of $4,550 over the dividends of $1,800.
PLANET REALTY
Unadjusted Trial Balance
August 31, 2016
2-41
1.
Page 1
Post.
Ref. Debit Credit
2016
Cash 11 2,100
15 Prepaid Insurance 14 3,600
Cash 11 3,600
15 Cash 11 8,950
Fees Earned 41 8,950
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
Account No. 12
Post.
Item Ref. Debit Debit Credit
2016
Date Credit
Account:
Account: Cash
Accounts Receivable
GENERAL LEDGER
Balance
CreditDate
Balance
2-43
CHAPTER 2 Analyzing Transactions
Prob. 2–3B (Continued)
Account No. 13
Post.
Item Ref. Debit Credit Debit Credit
Account No. 14
Post.
Item Ref. Debit Credit Debit Credit
2016
Oct. 15 1 3,600 3,600
Account No. 16
Post.
Account No. 18
Post.
Item Ref. Debit Credit Debit Credit
2016
Oct. 10 1 23,750 23,750
Account No. 21
Post.
Item Ref. Debit Credit Debit Credit
Balance
Balance
Balance
Date
Balance
Date
Account: Notes Payable
Balance
Account: Supplies
Account: Prepaid Insurance
Account: Equipment
Date
Date
Account: Truck
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
Account: Common Stock
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
2016
Balance
Date
Account: Truck Expense
2-46
CHAPTER 2 Analyzing Transactions
Prob. 2–3B (Concluded)
3.
Debit Credit
Balances Balances
Cash 8,460
Accounts Receivable 6,550
Supplies 2,100
Prepaid Insurance 3,600
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, 2016
2-47
CHAPTER 2 Analyzing Transactions
Prob. 2–4B
2. and 3.
Page 18
Post.
Ref. Debit Credit
2016
17 Advertising Expense 53 8,000
Cash 11 8,000
23 Accounts Payable 21 13,750
Cash 11 13,750
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
Account No. 12
Post.
Item Ref. Debit Debit Credit
2016
Aug. 1 Balance 100,100
Date Credit
7,200
Balance
Balance
GENERAL LEDGER
CreditDate
Account:
12,000
Account: Accounts Receivable
Cash
2-49
CHAPTER 2 Analyzing Transactions
Prob. 2–4B (Continued)
Account No. 13
Post.
Item Ref. Debit Credit Debit Credit
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
Aug. 31 19 75,000 75,000
Account No. 21
Post.
Item Ref. Debit Credit Debit Credit
2016
Account No. 22
Post.
Item Ref. Debit Credit Debit Credit
2016
Aug. 31 19 5,000 5,000
Account No. 23
Account: Prepaid Insurance
Account: Office Supplies
Account: Land
Date
Date
Date
Account: Unearned Rent
Account: Notes Payable
Balance
Balance
Date
Balance
Balance
Balance
Date
Account: Accounts Payable
2-50
CHAPTER 2 Analyzing Transactions
Prob. 2–4B (Continued)
Account No. 31
Post.
Item Ref. Debit Credit Debit Credit
Account No. 33
Post.
Item Ref. Debit Credit Debit Credit
2016
Aug. 1 Balance 44,800
31 19 1,000 45,800
Account No. 41
Post.
Item Ref. Debit Credit Debit Credit
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: Common Stock
Balance
Date
Account: Dividends
Account: Fees Earned
Date
Date
Account: Rent Expense
Balance
Balance
Balance
Date
Balance
Date
Account: Salary and Commission Expense
2-51
CHAPTER 2 Analyzing Transactions
Prob. 2–4B (Continued)
Account No. 53
Post.
Item Ref. Debit Credit Debit Credit
2016
Aug. 1 Balance 32,200
17 18 8,000 40,200
Account No. 54
Post.
Item Ref. Debit Credit Debit Credit
2016
Account: Advertising Expense
Balance
Date
Balance
Account: Automobile Expense
Date
2-52
CHAPTER 2 Analyzing Transactions
Prob. 2–4B (Concluded)
4.
Debit Credit
Balances Balances
Cash 36,750
Accounts Receivable 199,700
Prepaid Insurance 24,600
Office Supplies 5,550
Land 75,000
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
(c) Slide
Date
JOURNAL
Description
VALLEY REALTY
Unadjusted Trial Balance
A
ugust 31, 2016
2-53
1.
Debit Credit
Balances Balances
Cash* 20,250
Accounts Receivable 56,400
Supplies 6,750
Prepaid Insurance 9,600
Equipment 162,000
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
Common Stock 31 5,000
1 Office Rent Expense 51 1,750
3 Cash 11 7,200
Unearned Revenue 23 7,200
3 Accounts Payable 21 250
Cash 11 250
4 Miscellaneous Expense 59 900
Cash 11 900
5 Office Equipment 17 7,500
Date
CONTINUING PROBLEM
JOURNAL
Description
2-55
