Following is the chart of accounts of Elden Realty Company: Assets Revenue 111 Cash 411 Professional Fees 113 Accounts Receivable 115 Supplies Expenses 117 Prepaid Insurance 511 Salary Expense 124 Office Furniture 512 Rent Expense 513 Advertising Expense Liabilities 514 Utilities Expense 211 Accounts Payable Owner's Equity 311 T. Elden, Capital 312 T. Elden, Drawing Elden completed the following transactions during April (the first month of business): April 1 Elden deposited $12,000 in a bank account in the name of the business. 5 Sold realty services on account to R. Miller, $2,810, Inv. No. 100. 7 Paid a bill for advertising, $140, Ck. No. 1001. 8 Bought supplies on account from Taylor Supply, $110, Inv. No. 2340. 9 Performed realty services for clients for cash, $3,230. 15 Received and paid the bill for utilities, $115, Ck. No. 1002. 17 Bought a desk and chair from Lewis Furniture, $600, paying $80 in cash and placing the balance on account, Ck. No. 1003. 20 Bought liability insurance for one year, $420, Ck. No. 1004. 21 Paid the rent for the current month, $300, Ck. No. 1005. 25 Paid on account to Taylor Supply, $110, for supplies purchased on April 8, Ck. No. 1006. 27 Received $2,810 from R. Miller for services performed on April 5. 28 Received and paid the telephone bill for the month, $105, Ck. No. 1007. 29 Paid the salary of the office assistant, $420, Ck. No. 1008. 30 Elden withdrew cash for his personal use, $700, Ck. No. 1009. Required: 1. Journalize the transactions for April in the general journal. If no amount is required, leave the entry box blank. 2. Post the entries to the general ledger accounts. For multiple entries with the same date, enter in the order from the journal entries in Part 1. If no amount is required, leave the entry box blank. ACCOUNT Cash ACCOUNT NO. 111 DATE ITEM POST.REF. DEBIT CREDIT BALANCE DEBIT CREDIT 20-- Apr. 1 1 1 1 1 1 1 1 1 1 1 1 ACCOUNT Accounts Receivable ACCOUNT NO. 113 DATE ITEM POST.REF. DEBIT CREDIT BALANCE DEBIT CREDIT 20-- Apr. 1 1 ACCOUNT Supplies ACCOUNT NO. 115 DATE ITEM POST.REF. DEBIT CREDIT BALANCE DEBIT CREDIT 20-- Apr. 1 ACCOUNT Prepaid Insurance ACCOUNT NO. 117 DATE ITEM POST.REF. DEBIT CREDIT BALANCE DEBIT CREDIT 20-- Apr. 1 ACCOUNT Office Furniture ACCOUNT NO. 124 DATE ITEM POST.REF. DEBIT CREDIT BALANCE DEBIT CREDIT 20-- Apr. 1 ACCOUNT Accounts Payable ACCOUNT NO. 211 DATE ITEM POST.REF. DEBIT CREDIT BALANCE DEBIT CREDIT 20-- Apr. 1 1 1 ACCOUNT T. Elden, Capital ACCOUNT NO. 311 DATE ITEM POST.REF. DEBIT CREDIT BALANCE DEBIT CREDIT 20-- Apr. 1 ACCOUNT T. Elden, Drawing ACCOUNT NO. 312 DATE ITEM POST.REF. DEBIT CREDIT BALANCE DEBIT CREDIT 20-- Apr. 1 ACCOUNT Professional Fees ACCOUNT NO. 411 DATE ITEM POST.REF. DEBIT CREDIT BALANCE DEBIT CREDIT 20-- Apr. 1 1 ACCOUNT Salary Expense ACCOUNT NO. 511 DATE ITEM POST.REF. DEBIT CREDIT BALANCE DEBIT CREDIT 20-- Apr. 1 ACCOUNT Rent Expense ACCOUNT NO. 512 DATE ITEM POST.REF. DEBIT CREDIT BALANCE DEBIT CREDIT 20-- Apr. 1 ACCOUNT Advertising Expense ACCOUNT NO. 513 DATE ITEM POST.REF. DEBIT CREDIT BALANCE DEBIT CREDIT 20-- Apr. 1 ACCOUNT Utilities Expense ACCOUNT NO. 514 DATE ITEM POST.REF. DEBIT CREDIT BALANCE DEBIT CREDIT 20-- Apr. 1 1

Following is the chart of accounts of Elden Realty Company: Assets Revenue 111 Cash 411 Professional Fees 113 Accounts Receivable 115 Supplies Expenses 117 Prepaid Insurance 511 Salary Expense 124 Office Furniture 512 Rent Expense 513 Advertising Expense Liabilities 514 Utilities Expense 211 Accounts Payable Owner's Equity 311 T. Elden, Capital 312 T. Elden, Drawing Elden completed the following transactions during April (the first month of business): April 1 Elden deposited $12,000 in a bank account in the name of the business. 5 Sold realty services on account to R. Miller, $2,810, Inv. No. 100. 7 Paid a bill for advertising, $140, Ck. No. 1001. 8 Bought supplies on account from Taylor Supply, $110, Inv. No. 2340. 9 Performed realty services for clients for cash, $3,230. 15 Received and paid the bill for utilities, $115, Ck. No. 1002. 17 Bought a desk and chair from Lewis Furniture, $600, paying $80 in cash and placing the balance on account, Ck. No. 1003. 20 Bought liability insurance for one year, $420, Ck. No. 1004. 21 Paid the rent for the current month, $300, Ck. No. 1005. 25 Paid on account to Taylor Supply, $110, for supplies purchased on April 8, Ck. No. 1006. 27 Received $2,810 from R. Miller for services performed on April 5. 28 Received and paid the telephone bill for the month, $105, Ck. No. 1007. 29 Paid the salary of the office assistant, $420, Ck. No. 1008. 30 Elden withdrew cash for his personal use, $700, Ck. No. 1009. Required: 1. Journalize the transactions for April in the general journal. If no amount is required, leave the entry box blank. 2. Post the entries to the general ledger accounts. For multiple entries with the same date, enter in the order from the journal entries in Part 1. If no amount is required, leave the entry box blank. ACCOUNT Cash ACCOUNT NO. 111 DATE ITEM POST.REF. DEBIT CREDIT BALANCE DEBIT CREDIT 20-- Apr. 1 1 1 1 1 1 1 1 1 1 1 1 ACCOUNT Accounts Receivable ACCOUNT NO. 113 DATE ITEM POST.REF. DEBIT CREDIT BALANCE DEBIT CREDIT 20-- Apr. 1 1 ACCOUNT Supplies ACCOUNT NO. 115 DATE ITEM POST.REF. DEBIT CREDIT BALANCE DEBIT CREDIT 20-- Apr. 1 ACCOUNT Prepaid Insurance ACCOUNT NO. 117 DATE ITEM POST.REF. DEBIT CREDIT BALANCE DEBIT CREDIT 20-- Apr. 1 ACCOUNT Office Furniture ACCOUNT NO. 124 DATE ITEM POST.REF. DEBIT CREDIT BALANCE DEBIT CREDIT 20-- Apr. 1 ACCOUNT Accounts Payable ACCOUNT NO. 211 DATE ITEM POST.REF. DEBIT CREDIT BALANCE DEBIT CREDIT 20-- Apr. 1 1 1 ACCOUNT T. Elden, Capital ACCOUNT NO. 311 DATE ITEM POST.REF. DEBIT CREDIT BALANCE DEBIT CREDIT 20-- Apr. 1 ACCOUNT T. Elden, Drawing ACCOUNT NO. 312 DATE ITEM POST.REF. DEBIT CREDIT BALANCE DEBIT CREDIT 20-- Apr. 1 ACCOUNT Professional Fees ACCOUNT NO. 411 DATE ITEM POST.REF. DEBIT CREDIT BALANCE DEBIT CREDIT 20-- Apr. 1 1 ACCOUNT Salary Expense ACCOUNT NO. 511 DATE ITEM POST.REF. DEBIT CREDIT BALANCE DEBIT CREDIT 20-- Apr. 1 ACCOUNT Rent Expense ACCOUNT NO. 512 DATE ITEM POST.REF. DEBIT CREDIT BALANCE DEBIT CREDIT 20-- Apr. 1 ACCOUNT Advertising Expense ACCOUNT NO. 513 DATE ITEM POST.REF. DEBIT CREDIT BALANCE DEBIT CREDIT 20-- Apr. 1 ACCOUNT Utilities Expense ACCOUNT NO. 514 DATE ITEM POST.REF. DEBIT CREDIT BALANCE DEBIT CREDIT 20-- Apr. 1 1

College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)

22nd Edition

ISBN:9781305666160

Author:James A. Heintz, Robert W. Parry

Publisher:James A. Heintz, Robert W. Parry

Chapter15: Financial Statements And Year-end Accounting For A Merchandising Business

Section: Chapter Questions

Problem 9SPB: FINANCIAL RATIOS Use the work sheet and financial statements prepared in Problem 15-8B. All sales...

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Following is the chart of accounts of Elden Realty Company:

Assets	Revenue
111 Cash	411 Professional Fees
113 Accounts Receivable
115 Supplies	Expenses
117 Prepaid Insurance	511 Salary Expense
124 Office Furniture	512 Rent Expense
	513 Advertising Expense
Liabilities	514 Utilities Expense
211 Accounts Payable

Owner's Equity
311 T. Elden, Capital
312 T. Elden, Drawing

Elden completed the following transactions during April (the first month of business):

April 1		Elden deposited $12,000 in a bank account in the name of the business.
5		Sold realty services on account to R. Miller, $2,810, Inv. No. 100.
7		Paid a bill for advertising, $140, Ck. No. 1001.
8		Bought supplies on account from Taylor Supply, $110, Inv. No. 2340.
9		Performed realty services for clients for cash, $3,230.
15		Received and paid the bill for utilities, $115, Ck. No. 1002.
17		Bought a desk and chair from Lewis Furniture, $600, paying $80 in cash and placing the balance on account, Ck. No. 1003.
20		Bought liability insurance for one year, $420, Ck. No. 1004.
21		Paid the rent for the current month, $300, Ck. No. 1005.
25		Paid on account to Taylor Supply, $110, for supplies purchased on April 8, Ck. No. 1006.
27		Received $2,810 from R. Miller for services performed on April 5.
28		Received and paid the telephone bill for the month, $105, Ck. No. 1007.
29		Paid the salary of the office assistant, $420, Ck. No. 1008.
30		Elden withdrew cash for his personal use, $700, Ck. No. 1009.

Required:

1. Journalize the transactions for April in the general journal. If no amount is required, leave the entry box blank.

2. Post the entries to the general ledger accounts. For multiple entries with the same date, enter in the order from the journal entries in Part 1. If no amount is required, leave the entry box blank.

ACCOUNT	*Cash*	ACCOUNT NO.	*111*

	DATE	ITEM	POST. REF.	DEBIT	CREDIT	BALANCE
DEBIT	CREDIT
	20--
	Apr.			1
				1
				1
				1
				1
				1
				1
				1
				1
				1
				1
				1

ACCOUNT	*Accounts Receivable*	ACCOUNT NO.	*113*

	DATE	ITEM	POST. REF.	DEBIT	CREDIT	BALANCE
DEBIT	CREDIT
	20--
	Apr.			1
				1

ACCOUNT	*Supplies*	ACCOUNT NO.	*115*

	DATE	ITEM	POST. REF.	DEBIT	CREDIT	BALANCE
DEBIT	CREDIT
	20--
	Apr.			1

ACCOUNT	*Prepaid Insurance*	ACCOUNT NO.	*117*

	DATE	ITEM	POST. REF.	DEBIT	CREDIT	BALANCE
DEBIT	CREDIT
	20--
	Apr.			1

ACCOUNT	*Office Furniture*	ACCOUNT NO.	*124*

	DATE	ITEM	POST. REF.	DEBIT	CREDIT	BALANCE
DEBIT	CREDIT
	20--
	Apr.			1

ACCOUNT	*Accounts Payable*	ACCOUNT NO.	*211*

	DATE	ITEM	POST. REF.	DEBIT	CREDIT	BALANCE
DEBIT	CREDIT
	20--
	Apr.			1
				1
				1

ACCOUNT	T. Elden, *Capital*	ACCOUNT NO.	*311*

	DATE	ITEM	POST. REF.	DEBIT	CREDIT	BALANCE
DEBIT	CREDIT
	20--
	Apr.			1

ACCOUNT	T. Elden, *Drawing*	ACCOUNT NO.	*312*

	DATE	ITEM	POST. REF.	DEBIT	CREDIT	BALANCE
DEBIT	CREDIT
	20--
	Apr.			1

ACCOUNT	*Professional Fees*	ACCOUNT NO.	*411*

	DATE	ITEM	POST. REF.	DEBIT	CREDIT	BALANCE
DEBIT	CREDIT
	20--
	Apr.			1
				1

ACCOUNT	*Salary Expense*	ACCOUNT NO.	*511*

	DATE	ITEM	POST. REF.	DEBIT	CREDIT	BALANCE
DEBIT	CREDIT
	20--
	Apr.			1

ACCOUNT	*Rent Expense*	ACCOUNT NO.	*512*

	DATE	ITEM	POST. REF.	DEBIT	CREDIT	BALANCE
DEBIT	CREDIT
	20--
	Apr.			1

ACCOUNT	*Advertising Expense*	ACCOUNT NO.	*513*

	DATE	ITEM	POST. REF.	DEBIT	CREDIT	BALANCE
DEBIT	CREDIT
	20--
	Apr.			1

ACCOUNT	*Utilities Expense*	ACCOUNT NO.	*514*

	DATE	ITEM	POST. REF.	DEBIT	CREDIT	BALANCE
DEBIT	CREDIT
	20--
	Apr.			1
				1

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