A. Post the journal entries to their ledger using T-Account Format. Use Additional information on Enrichment Activity 2-1 and use the trial balance for the beginning balances.B. Prepare Trial balance, as of April 30, 2021. Friendly TruckingTrial BalanceApril 01, 2021Dr.Cr.CashAccounts ReceivableSuppliesTransportation EquipmentAccounts PayableN. Ferrer, CapitalN. Ferrer, DrawingsTrucking IncomeSalaries ExpenseRent ExpenseUtilities ExpenseMiscellaneous ExpenseTotalsP320,00042,5004,200157,000P 52,200499,70052,00066,80029,00010,0003,200800P618.700P618.700 Enrichment Activity 2-1DateAccount Titles and ExplanationPRDebitCredit1 Apr.1 CashNels Ferrer, CapitalP5000001PS000002323to record the additional investment.4sol0001 Transportation EquipmentCash (250,000 x 50%]Accounts Payableto record the purchased equipment.6.12567.125000Rent Expense500010110Cash50001111to record the paid rental for the month12131213132004 CashAccounts Recievableto record the collected accounts from the previous month.141415151616171830000 1920212217300005 CashTrucking Incometo record the trucking income earned.181920211000010 Salaries ExpenseCashto record the paid salaries220000T242323242525240015 CashRental Revenueto record the rented vehicle to Joshua26262400 272829272829200018 Utility ExpenseCashto record the paid electric bill.303020003233343536373131323320 Cash150003435363738Accounts Recievableto record the recieved balance from Joshua.2300025 Office SuppliesAccounts Payableto record the purchased office supplies38|23000393940404142lolo 43P868600 O868600 444129 CashTrucking Incometo record the collected trucking income.42180004344454546462.2)

Posting to the ledger: Cash A/c Date Particulars Debit Amount(P) Date Particulars Credit Amount…

P500000 1 Cash Nels Ferrer, Capital to record the additional investment. Apr. PS00000 250 0|0|0 1 Transportation Equipment Cash (250,000 x 50%] Accounts Payable to record the purchased equipment. 129 |125000 5|0 0|0 1 Rent Expense Cash to record the paid rental for the month 5000 4 Cash 13200 Accounts Recievable 200 to record the collected accounts from the previous month. 30000 5 Cash Trucking Income to record the trucking income earned. 30000 10000 10 Salaries Expense Cash to record the paid salaries 10000 15 Cash 2400 Rental Revenue 2400 to record the rented vehicle to Joshua 2000 18 Utility Expense Cash to record the paid electric bil. 2000 15000 20 Cash Accounts Recievable to record the recieved baiance from Joshua. |15|0|0|0 23000 25 Office Supplies Accounts Payable to record the purchased office supplies 23000 29 Cash 18000 Trucking Income |이0 to record the collected trucking income. 00 1. a. ol 6 6)

P500000 1 Cash Nels Ferrer, Capital to record the additional investment. Apr. PS00000 250 0|0|0 1 Transportation Equipment Cash (250,000 x 50%] Accounts Payable to record the purchased equipment. 129 |125000 5|0 0|0 1 Rent Expense Cash to record the paid rental for the month 5000 4 Cash 13200 Accounts Recievable 200 to record the collected accounts from the previous month. 30000 5 Cash Trucking Income to record the trucking income earned. 30000 10000 10 Salaries Expense Cash to record the paid salaries 10000 15 Cash 2400 Rental Revenue 2400 to record the rented vehicle to Joshua 2000 18 Utility Expense Cash to record the paid electric bil. 2000 15000 20 Cash Accounts Recievable to record the recieved baiance from Joshua. |15|0|0|0 23000 25 Office Supplies Accounts Payable to record the purchased office supplies 23000 29 Cash 18000 Trucking Income |이0 to record the collected trucking income. 00 1. a. ol 6 6)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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