As of January 31, Hammond Auto Supply's general ledger balances, listed in alphabetical order of accounts, are as follows: Accounts Balance Accounts Payable $4,738.00 Accounts Receivable 5,486.00 Cash 17,172.64 Employees' Federal Income Tax Payable 876.00 Equipment 3,650.00 Federal Unemployment Tax Payable 50.88 FICA Social Security Tax Payable 788.64 FICA Medicare Tax Payable 184.44 Freight In 251.00 J. Hammond, Capital 38,451.00 J. Hammond, Drawing 980.00 Merchandise Inventory 20,564.00 Miscellaneous Expense 232.00 Payroll Tax Expense 880.86 Prepaid Insurance 385.00 Purchases 7,781.00 Purchases Discounts 70.70 Purchases Returns and Allowances 366.00 Rent Expense 761.00 Salary Expense 6,360.00 Sales 19,395.30 Sales Discounts 32.90 Sales Returns and Allowances 48.00 State Unemployment Tax Payable 343.44 Supplies 680.00 Prepare a trial balance as of January 31, 20--. List all the accounts in the proper order as described and illustrated in the textbook. Round your answers to the nearest cent. If an amount box does not require an entry, leave it blank. Hammond Auto SupplyTrial BalanceJanuary 31, 20-- Please see photos (Total 25 lines )
As of January 31, Hammond Auto Supply's general ledger balances, listed in alphabetical order of accounts, are as follows: Accounts Balance Accounts Payable $4,738.00 Accounts Receivable 5,486.00 Cash 17,172.64 Employees' Federal Income Tax Payable 876.00 Equipment 3,650.00 Federal Unemployment Tax Payable 50.88 FICA Social Security Tax Payable 788.64 FICA Medicare Tax Payable 184.44 Freight In 251.00 J. Hammond, Capital 38,451.00 J. Hammond, Drawing 980.00 Merchandise Inventory 20,564.00 Miscellaneous Expense 232.00 Payroll Tax Expense 880.86 Prepaid Insurance 385.00 Purchases 7,781.00 Purchases Discounts 70.70 Purchases Returns and Allowances 366.00 Rent Expense 761.00 Salary Expense 6,360.00 Sales 19,395.30 Sales Discounts 32.90 Sales Returns and Allowances 48.00 State Unemployment Tax Payable 343.44 Supplies 680.00 Prepare a trial balance as of January 31, 20--. List all the accounts in the proper order as described and illustrated in the textbook. Round your answers to the nearest cent. If an amount box does not require an entry, leave it blank. Hammond Auto SupplyTrial BalanceJanuary 31, 20-- Please see photos (Total 25 lines )
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
As of January 31, Hammond Auto Supply's general ledger balances, listed in alphabetical order of accounts, are as follows:
| Accounts | Balance |
| Accounts Payable | $4,738.00 |
| 5,486.00 | |
| Cash | 17,172.64 |
| Employees' Federal Income Tax Payable | 876.00 |
| Equipment | 3,650.00 |
| Federal |
50.88 |
| FICA Social Security Tax Payable | 788.64 |
| FICA Medicare Tax Payable | 184.44 |
| Freight In | 251.00 |
| J. Hammond, Capital | 38,451.00 |
| J. Hammond, Drawing | 980.00 |
| Merchandise Inventory | 20,564.00 |
| Miscellaneous Expense | 232.00 |
| Payroll Tax Expense | 880.86 |
| Prepaid Insurance | 385.00 |
| Purchases | 7,781.00 |
| Purchases Discounts | 70.70 |
| Purchases Returns and Allowances | 366.00 |
| Rent Expense | 761.00 |
| Salary Expense | 6,360.00 |
| Sales | 19,395.30 |
| Sales Discounts | 32.90 |
| Sales Returns and Allowances | 48.00 |
| State Unemployment Tax Payable | 343.44 |
| Supplies | 680.00 |
Prepare a trial balance as of January 31, 20--. List all the accounts in the proper order as described and illustrated in the textbook. Round your answers to the nearest cent.
If an amount box does not require an entry, leave it blank.
Hammond Auto SupplyTrial BalanceJanuary 31, 20--
Please see photos
(Total 25 lines )
Transcribed Image Text:The image shows a financial transaction entry form with multiple rows for logging debit and credit entries. Each row consists of a dropdown menu and two fields labeled "DEBIT" and "CREDIT".
- **Dropdown Menu**: Allows users to select the type of transaction or account associated with each entry.
- **Debit Field**: Used to input the monetary value to be debited from the selected account.
- **Credit Field**: Used to input the monetary value to be credited to the selected account.
This layout is typically used in accounting software for recording journal entries where debits and credits must balance. It assists in maintaining accurate financial records by allowing users to specify transaction details and associated amounts in a structured format.
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