✓4. c. $4,550 ala SHOW ME HOW anoisbustani gation, I get ca. Bill Hudson transferred cash from a personal bank account to an account to be used O bosibero bas baids for the business, $30,000. General Ledgerem enoits b. Paid rent on office and equipment for the month, $3,250. c. Purchased supplies on account, $2,150. d. Paid creditor on account, $875. aros 08 odsvo To the left of un amount entered in the accounts, place the appropriate letter to identify the transaction. 2. Determine account balances of the T accounts. Accounts containing a single entry only (such as Prepaid Insurance) do not need a balance. 3. Prepare an unadjusted trial balance for Kimberly Manis, Architect, as of January 31, 2016. 4. Determine the net income or net loss for January. PR 2-2A Journal entries and trial balance disvol OBJ. 1, 2, 3, 4 On August 1, 2016, Bill Hudson established Heritage Realty, which completed the fol- lowing transactions during the month: edT sustes les galgeram 008.as gnitog sorgqs gii. Withdrew cash for personal use, $2,500. somsled stringoiggs sti Instructions ad ton trigim (è) ni bonimmst 2. e. Earned sales commissions, receiving cash, $14,440. f. Paid automobile expenses (including rental charge) for month, $1,580, and miscel- laneous expenses, $650. bunt g. Paid office salaries, $3,000. h. Determined that the cost of supplies used was $1,300. 1. Journalize entries for transactions (a) through (i), using the following account titles: Cash; Supplies; Accounts Payable; Bill Hudson, Capital; Bill Hudson, Drawing; Sales Commissions; Rent Expense; Office Salaries Expense; Automobile Expense; Supplies Expense; Miscellaneous Expense. Explanations may be omitted. Prepare T accounts, using the account titles in (1). Post the journal entries to these accounts, placing the appropriate letter to the left of each amount to identify the transactions. Determine the account balances, after all posting is complete. Accounts containing only a single entry do not need a balance.ne 3. Prepare an unadjusted trial balance as of August 31, 2016. 4. Determine the following: a. Amount of total revenue recorded in the ledger. b. Amount of total expenses recorded in the ledger. c. Amount of net income for August. 5. Determine the increase or decrease in owner's equity for August. trial balance tide to Isto P 2525E22 mulos OBJ. 1, 2, 3, 4

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Question
✓4. c. $4,550
ala
anoisburdan!
gniston, I oge nca. Bill Hudson transferred cash from a personal bank account to an account to be used
0 botibero bas baids for the business, $30,000.
SHOW
ME HOW
General Ledger am enoits b. Paid rent on office and equipment for the month, $3,250.
c. Purchased supplies on account, $2,150.
d. Paid creditor on account, $875.
To the left of
un amount entered in the accounts, place the appropriate letter to identify the transaction.
2. Determine account balances of the T accounts. Accounts containing a single entry only
(such as Prepaid Insurance) do not need a balance.
3. Prepare an unadjusted trial balance for Kimberly Manis, Architect, as of January 31, 2016.
4. Determine the net income or net loss for January.
PR 2-2A Journal entries and trial balance
admovol
OBJ. 1, 2, 3, 4
On August 1, 2016, Bill Hudson established Heritage Realty, which completed the fol-
lowing transactions during the month:
aros 08 Todansvol
gnitog singorgqs gni. Withdrew cash for personal use, $2,500.
sonsled stringorgs sti
odybos
e. Earned sales commissions, receiving cash, $14,440.
f.
Paid automobile expenses (including rental charge) for month, $1,580, and miscel-
laneous expenses, $650.
buit
Jide0
Bonais8
g. Paid office salaries, $3,000.
h. Determined that the cost of supplies used was $1,300.
Instructions
1. Journalize entries for transactions (a) through (i), using the following account titles:
Cash; Supplies; Accounts Payable; Bill Hudson, Capital; Bill Hudson, Drawing; Sales
edme Commissions; Rent Expense; Office Salaries Expense; Automobile Expense; Supplies
Expense; Miscellaneous Expense. Explanations may be omitted.
ton trigim (e) ni bonists
on sales les galgerum
2. Prepare T accounts, using the account titles in (1). Post the journal entries to these
accounts, placing the appropriate letter to the left of each amount to identify the
transactions. Determine the account balances, after all posting is complete. Accounts
containing only a single entry do not need a balance.ne
3. Prepare an unadjusted trial balance as of August 31, 2016..
4. Determine the following:
a. Amount of total revenue recorded in the ledger.
b. Amount of total expenses recorded in the ledger.
c. Amount of net income for August.
5. Determine the increase or decrease in owner's equity for August.
trial balance
tids to IstoT.P%
2525E22 inmulos
balance as of August of Disa
OBJ. 1, 2, 3, 4
Transcribed Image Text:✓4. c. $4,550 ala anoisburdan! gniston, I oge nca. Bill Hudson transferred cash from a personal bank account to an account to be used 0 botibero bas baids for the business, $30,000. SHOW ME HOW General Ledger am enoits b. Paid rent on office and equipment for the month, $3,250. c. Purchased supplies on account, $2,150. d. Paid creditor on account, $875. To the left of un amount entered in the accounts, place the appropriate letter to identify the transaction. 2. Determine account balances of the T accounts. Accounts containing a single entry only (such as Prepaid Insurance) do not need a balance. 3. Prepare an unadjusted trial balance for Kimberly Manis, Architect, as of January 31, 2016. 4. Determine the net income or net loss for January. PR 2-2A Journal entries and trial balance admovol OBJ. 1, 2, 3, 4 On August 1, 2016, Bill Hudson established Heritage Realty, which completed the fol- lowing transactions during the month: aros 08 Todansvol gnitog singorgqs gni. Withdrew cash for personal use, $2,500. sonsled stringorgs sti odybos e. Earned sales commissions, receiving cash, $14,440. f. Paid automobile expenses (including rental charge) for month, $1,580, and miscel- laneous expenses, $650. buit Jide0 Bonais8 g. Paid office salaries, $3,000. h. Determined that the cost of supplies used was $1,300. Instructions 1. Journalize entries for transactions (a) through (i), using the following account titles: Cash; Supplies; Accounts Payable; Bill Hudson, Capital; Bill Hudson, Drawing; Sales edme Commissions; Rent Expense; Office Salaries Expense; Automobile Expense; Supplies Expense; Miscellaneous Expense. Explanations may be omitted. ton trigim (e) ni bonists on sales les galgerum 2. Prepare T accounts, using the account titles in (1). Post the journal entries to these accounts, placing the appropriate letter to the left of each amount to identify the transactions. Determine the account balances, after all posting is complete. Accounts containing only a single entry do not need a balance.ne 3. Prepare an unadjusted trial balance as of August 31, 2016.. 4. Determine the following: a. Amount of total revenue recorded in the ledger. b. Amount of total expenses recorded in the ledger. c. Amount of net income for August. 5. Determine the increase or decrease in owner's equity for August. trial balance tids to IstoT.P% 2525E22 inmulos balance as of August of Disa OBJ. 1, 2, 3, 4
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