Problem 2-61A The Accounting Cycle Karleen's Catering Service provides catered meals to individuals and businesses. Karleen's purchases its food ready to serve from Mel's Restaurant. In order to prepare a realistic trial balance, the events described below are aggregations of many individual events during 2019. Common stock was issued for $22,000. During the year, Karleen's paid office rent of $13,500. Utilities expenses incurred and paid were $5,320. Wages of $58,800 were earned by employees and paid during the year. During the year, Karleen's provided catering services: On credit $128,200 For cash 18,650 Karleen's paid $59,110 for supplies purchased and used during the year. Karleen's paid dividends in the amount of $3,500. Karleen's collected accounts receivable in the amount of $109,400. 3. Post the journal entries to the appropriate T-accounts. Cash fill in the blank c7e620faffbc017_2 fill in the blank c7e620faffbc017_4 fill in the blank c7e620faffbc017_6 fill in the blank c7e620faffbc017_8 fill in the blank c7e620faffbc017_10 fill in the blank c7e620faffbc017_12 fill in the blank c7e620faffbc017_14 fill in the blank c7e620faffbc017_16 End. Bal. fill in the blank c7e620faffbc017_17 Accounts Receivable fill in the blank c7e620faffbc017_19 fill in the blank c7e620faffbc017_21 End. Bal. fill in the blank c7e620faffbc017_22 Common Stock fill in the blank c7e620faffbc017_24 End. Bal. fill in the blank c7e620faffbc017_25 Dividends fill in the blank c7e620faffbc017_27 End. Bal. fill in the blank c7e620faffbc017_28 Service Revenue fill in the blank c7e620faffbc017_30 End. Bal. fill in the blank c7e620faffbc017_31 Rent Expense fill in the blank c7e620faffbc017_33 End. Bal. fill in the blank c7e620faffbc017_34 Utilities Expense fill in the blank c7e620faffbc017_36 End. Bal. fill in the blank c7e620faffbc017_37 Wages Expense fill in the blank c7e620faffbc017_39 End. Bal. fill in the blank c7e620faffbc017_40 Supplies Expense fill in the blank c7e620faffbc017_42 End. Bal. fill in the blank c7e620faffbc017_43

Problem 2-61A The Accounting Cycle Karleen's Catering Service provides catered meals to individuals and businesses. Karleen's purchases its food ready to serve from Mel's Restaurant. In order to prepare a realistic trial balance, the events described below are aggregations of many individual events during 2019. Common stock was issued for $22,000. During the year, Karleen's paid office rent of $13,500. Utilities expenses incurred and paid were $5,320. Wages of $58,800 were earned by employees and paid during the year. During the year, Karleen's provided catering services: On credit $128,200 For cash 18,650 Karleen's paid $59,110 for supplies purchased and used during the year. Karleen's paid dividends in the amount of $3,500. Karleen's collected accounts receivable in the amount of $109,400. 3. Post the journal entries to the appropriate T-accounts. Cash fill in the blank c7e620faffbc017_2 fill in the blank c7e620faffbc017_4 fill in the blank c7e620faffbc017_6 fill in the blank c7e620faffbc017_8 fill in the blank c7e620faffbc017_10 fill in the blank c7e620faffbc017_12 fill in the blank c7e620faffbc017_14 fill in the blank c7e620faffbc017_16 End. Bal. fill in the blank c7e620faffbc017_17 Accounts Receivable fill in the blank c7e620faffbc017_19 fill in the blank c7e620faffbc017_21 End. Bal. fill in the blank c7e620faffbc017_22 Common Stock fill in the blank c7e620faffbc017_24 End. Bal. fill in the blank c7e620faffbc017_25 Dividends fill in the blank c7e620faffbc017_27 End. Bal. fill in the blank c7e620faffbc017_28 Service Revenue fill in the blank c7e620faffbc017_30 End. Bal. fill in the blank c7e620faffbc017_31 Rent Expense fill in the blank c7e620faffbc017_33 End. Bal. fill in the blank c7e620faffbc017_34 Utilities Expense fill in the blank c7e620faffbc017_36 End. Bal. fill in the blank c7e620faffbc017_37 Wages Expense fill in the blank c7e620faffbc017_39 End. Bal. fill in the blank c7e620faffbc017_40 Supplies Expense fill in the blank c7e620faffbc017_42 End. Bal. fill in the blank c7e620faffbc017_43

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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Problem 2-61A
The Accounting Cycle

Karleen's Catering Service provides catered meals to individuals and businesses. Karleen's purchases its food ready to serve from Mel's Restaurant. In order to prepare a realistic trial balance, the events described below are aggregations of many individual events during 2019.

Common stock was issued for $22,000.
During the year, Karleen's paid office rent of $13,500.
Utilities expenses incurred and paid were $5,320.
Wages of $58,800 were earned by employees and paid during the year.
During the year, Karleen's provided catering services:

On credit $128,200

For cash 18,650
Karleen's paid $59,110 for supplies purchased and used during the year.
Karleen's paid dividends in the amount of $3,500.
Karleen's collected accounts receivable in the amount of $109,400.

3. Post the journal entries to the appropriate T-accounts.

Cash
	fill in the blank c7e620faffbc017_2	fill in the blank c7e620faffbc017_4
	fill in the blank c7e620faffbc017_6	fill in the blank c7e620faffbc017_8
	fill in the blank c7e620faffbc017_10	fill in the blank c7e620faffbc017_12
		fill in the blank c7e620faffbc017_14
		fill in the blank c7e620faffbc017_16
End. Bal.	fill in the blank c7e620faffbc017_17

Accounts Receivable
	fill in the blank c7e620faffbc017_19	fill in the blank c7e620faffbc017_21

End. Bal.	fill in the blank c7e620faffbc017_22

Common Stock
			fill in the blank c7e620faffbc017_24

		End. Bal.	fill in the blank c7e620faffbc017_25

Dividends
	fill in the blank c7e620faffbc017_27

End. Bal.	fill in the blank c7e620faffbc017_28

Service Revenue
			fill in the blank c7e620faffbc017_30

		End. Bal.	fill in the blank c7e620faffbc017_31

Rent Expense
	fill in the blank c7e620faffbc017_33

End. Bal.	fill in the blank c7e620faffbc017_34

Utilities Expense
	fill in the blank c7e620faffbc017_36

End. Bal.	fill in the blank c7e620faffbc017_37

Wages Expense
	fill in the blank c7e620faffbc017_39

End. Bal.	fill in the blank c7e620faffbc017_40

Supplies Expense
	fill in the blank c7e620faffbc017_42

End. Bal.	fill in the blank c7e620faffbc017_43

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