Required: a. Record the company's June transactions in general journal form. b. Post each entry to the appropriate ledger accounts. c. Prepare a trial balance dated June 30, current year.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Sanlucas, Incorporated, provides home inspection services to its clients. The following is the company's trial balance dated June 1, current
year:
Cash
Accounts receivable
Inspection supplies
Accounts payable
Notes payable
Dividends
Capital stock
Retained earnings
Inspection revenue
Salaries expense
Advertising expense
Testing expense
SANLUCAS, INCORPORATED
TRIAL BALANCE
JUNE 1, CURRENT YEAR
Debit
Credit
$6,120
3,120
960
$ 1,020
2,400
720
3,600
2,160
10,020
5,880
360
2,040
$19,200
$19,200
Sanlucas engaged in the following transactions in June:
June 4
Borrowed cash from Community Bank by issuing a $1,800 note payable.
June 9 Collected a $1,920 account receivable from Nina Lesher.
June 10
June 17
Purchased $180 of inspection supplies on account.
Billed homeowners $1,980 for inspection services. The entire amount is due on July 17.
June 25 Paid WLIR Radio $240 for ads to be aired on June 27.
June 28 Recorded and paid $1,560 for testing expenses incurred in June.
June 30 Recorded and paid June salaries of $1,320.
Required:
a. Record the company's June transactions in general journal form.
b. Post each entry to the appropriate ledger accounts.
c. Prepare a trial balance dated June 30, current year.
Transcribed Image Text:Sanlucas, Incorporated, provides home inspection services to its clients. The following is the company's trial balance dated June 1, current year: Cash Accounts receivable Inspection supplies Accounts payable Notes payable Dividends Capital stock Retained earnings Inspection revenue Salaries expense Advertising expense Testing expense SANLUCAS, INCORPORATED TRIAL BALANCE JUNE 1, CURRENT YEAR Debit Credit $6,120 3,120 960 $ 1,020 2,400 720 3,600 2,160 10,020 5,880 360 2,040 $19,200 $19,200 Sanlucas engaged in the following transactions in June: June 4 Borrowed cash from Community Bank by issuing a $1,800 note payable. June 9 Collected a $1,920 account receivable from Nina Lesher. June 10 June 17 Purchased $180 of inspection supplies on account. Billed homeowners $1,980 for inspection services. The entire amount is due on July 17. June 25 Paid WLIR Radio $240 for ads to be aired on June 27. June 28 Recorded and paid $1,560 for testing expenses incurred in June. June 30 Recorded and paid June salaries of $1,320. Required: a. Record the company's June transactions in general journal form. b. Post each entry to the appropriate ledger accounts. c. Prepare a trial balance dated June 30, current year.
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