The transactions completed by Revere Courier Company during December, the first month of the fiscal year, were as follows: Dec. 1. Issued Check No. 610 for December rent, $4,200. Dec. 2. Issued Invoice No. 940 to Clifford Co., $1,740 Dec. 3. Received check for $4,800 from Ryan Co. in payment of account. Dec. 5. Purchased a vehicle on account from Platinum Motors, $37,300. Dec. 6. Purchased office equipment on account from Austin Computer Co., $4,500. Dec. 6. Issued Invoice No. 941 to Ernesto Co., $3,870. Dec. 9. Issued Check No. 611 for fuel expense, $600. Dec. 10. Received check from Sing Co. in payment of $4,040 invoice. Dec. 10. Issued Check No. 612 for $330 to Office To Go Inc. in payment of invoice. Dec. 10. Issued Invoice No. 942 to Joy Co., $1,970. Dec. 11. Issued Check No. 613 for $3,090 to Essential Supply Co. in payment of account. Dec. 11. Issued Check No. 614 for $500 to Porter Co. in payment of account. Dec. 12. Received check from Clifford Co. in payment of $1,740 invoice of December 2. Dec. 13. Issued Check No. 615 to Platinum Motors in payment of $37,300 balance of December 5. Dec. 16. Issued Check No. 616 for $39,800 for cash purchase of a vehicle. Dec. 16. Cash fees earned for December 1–16, $20,300. Dec. 17. Issued Check No. 617 for miscellaneous administrative expense, $500. Dec. 18. Purchased maintenance supplies on account from Essential Supply Co., $1,750. Dec. 19. Purchased the following on account from McClain Co.: maintenance supplies, $1,500; office supplies, $375. Dec. 20. Issued Check No. 618 in payment of advertising expense, $1,780. Dec. 20. Used $3,200 maintenance supplies to repair delivery vehicles. Dec. 23. Purchased office supplies on account from Office To Go Inc., $400. Dec. 24. Issued Invoice No. 943 to Sing Co., $6,100. Dec. 24. Issued Check No. 619 to S. Holmes as a personal withdrawal, $3,000. Dec. 25. Issued Invoice No. 944 to Ernesto Co., $5,530. Dec. 25. Received check for $4,100 from Ryan Co. in payment of balance. Dec. 26. Issued Check No. 620 to Austin Computer Co. in payment of $4,500 invoice of December 6.
The transactions completed by Revere Courier Company during December, the first month of the fiscal year, were as follows: Dec. 1. Issued Check No. 610 for December rent, $4,200. Dec. 2. Issued Invoice No. 940 to Clifford Co., $1,740 Dec. 3. Received check for $4,800 from Ryan Co. in payment of account. Dec. 5. Purchased a vehicle on account from Platinum Motors, $37,300. Dec. 6. Purchased office equipment on account from Austin Computer Co., $4,500. Dec. 6. Issued Invoice No. 941 to Ernesto Co., $3,870. Dec. 9. Issued Check No. 611 for fuel expense, $600. Dec. 10. Received check from Sing Co. in payment of $4,040 invoice. Dec. 10. Issued Check No. 612 for $330 to Office To Go Inc. in payment of invoice. Dec. 10. Issued Invoice No. 942 to Joy Co., $1,970. Dec. 11. Issued Check No. 613 for $3,090 to Essential Supply Co. in payment of account. Dec. 11. Issued Check No. 614 for $500 to Porter Co. in payment of account. Dec. 12. Received check from Clifford Co. in payment of $1,740 invoice of December 2. Dec. 13. Issued Check No. 615 to Platinum Motors in payment of $37,300 balance of December 5. Dec. 16. Issued Check No. 616 for $39,800 for cash purchase of a vehicle. Dec. 16. Cash fees earned for December 1–16, $20,300. Dec. 17. Issued Check No. 617 for miscellaneous administrative expense, $500. Dec. 18. Purchased maintenance supplies on account from Essential Supply Co., $1,750. Dec. 19. Purchased the following on account from McClain Co.: maintenance supplies, $1,500; office supplies, $375. Dec. 20. Issued Check No. 618 in payment of advertising expense, $1,780. Dec. 20. Used $3,200 maintenance supplies to repair delivery vehicles. Dec. 23. Purchased office supplies on account from Office To Go Inc., $400. Dec. 24. Issued Invoice No. 943 to Sing Co., $6,100. Dec. 24. Issued Check No. 619 to S. Holmes as a personal withdrawal, $3,000. Dec. 25. Issued Invoice No. 944 to Ernesto Co., $5,530. Dec. 25. Received check for $4,100 from Ryan Co. in payment of balance. Dec. 26. Issued Check No. 620 to Austin Computer Co. in payment of $4,500 invoice of December 6.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Topic Video
Question
The transactions completed by Revere Courier Company during December, the first month of the fiscal year, were as follows:
Dec. 1. | Issued Check No. 610 for December rent, $4,200. | |
Dec. 2. | Issued Invoice No. 940 to Clifford Co., $1,740 | |
Dec. 3. | Received check for $4,800 from Ryan Co. in payment of account. | |
Dec. 5. | Purchased a vehicle on account from Platinum Motors, $37,300. | |
Dec. 6. | Purchased office equipment on account from Austin Computer Co., $4,500. | |
Dec. 6. | Issued Invoice No. 941 to Ernesto Co., $3,870. | |
Dec. 9. | Issued Check No. 611 for fuel expense, $600. | |
Dec. 10. | Received check from Sing Co. in payment of $4,040 invoice. | |
Dec. 10. | Issued Check No. 612 for $330 to Office To Go Inc. in payment of invoice. | |
Dec. 10. | Issued Invoice No. 942 to Joy Co., $1,970. | |
Dec. 11. | Issued Check No. 613 for $3,090 to Essential Supply Co. in payment of account. | |
Dec. 11. | Issued Check No. 614 for $500 to Porter Co. in payment of account. | |
Dec. 12. | Received check from Clifford Co. in payment of $1,740 invoice of December 2. | |
Dec. 13. | Issued Check No. 615 to Platinum Motors in payment of $37,300 balance of December 5. | |
Dec. 16. | Issued Check No. 616 for $39,800 for cash purchase of a vehicle. | |
Dec. 16. | Cash fees earned for December 1–16, $20,300. | |
Dec. 17. | Issued Check No. 617 for miscellaneous administrative expense, $500. | |
Dec. 18. | Purchased maintenance supplies on account from Essential Supply Co., $1,750. | |
Dec. 19. | Purchased the following on account from McClain Co.: maintenance supplies, $1,500; office supplies, $375. | |
Dec. 20. | Issued Check No. 618 in payment of advertising expense, $1,780. | |
Dec. 20. | Used $3,200 maintenance supplies to repair delivery vehicles. | |
Dec. 23. | Purchased office supplies on account from Office To Go Inc., $400. | |
Dec. 24. | Issued Invoice No. 943 to Sing Co., $6,100. | |
Dec. 24. | Issued Check No. 619 to S. Holmes as a personal withdrawal, $3,000. | |
Dec. 25. | Issued Invoice No. 944 to Ernesto Co., $5,530. | |
Dec. 25. | Received check for $4,100 from Ryan Co. in payment of balance. | |
Dec. 26. | Issued Check No. 620 to Austin Computer Co. in payment of $4,500 invoice of December 6. | |
Dec. 30. | Issued Check No. 621 for monthly salaries as follows: driver salaries, $16,900; office salaries, $7,100. | |
Dec. 31. | Cash fees earned for December 17–31, $18,900. | |
Dec. 31. | Issued Check No. 622 in payment for office supplies, $340. |
Required:
1. The following accounts are setup in the general ledger as of December 1. Using the information below, enter the balances for each account.
11 | Cash | $161,680 | 32 | S. Holmes, Drawing | - | |
12 | 12,940 | 41 | Fees Earned | - | ||
14 | Maintenance Supplies | 10,850 | 51 | Driver Salaries Expense | - | |
15 | Office Supplies | 4,900 | 52 | Maintenance Supplies Exp. | - | |
16 | Office Equipment | 28,500 | 53 | Fuel Expense | - | |
17 | Accum. Depr.—Office Equip. | 6,900 | 61 | Office Salaries Expense | - | |
18 | Vehicles | 95,900 | 62 | Rent Expense | - | |
19 | Accum. Depr.—Vehicles | 14,700 | 63 | Advertising Expense | - | |
21 | Accounts Payable | 3,920 | 64 | Miscellaneous Administrative Expense | - | |
31 | S. Holmes, Capital | 289,250 |
4. Total each of the columns of the special journals, and post the appropriate totals to the general ledger; insert the account balances.
If an amount box does not require an entry, leave it blank.
5. Prepare a
If an amount box does not require an entry, leave it blank.
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 7 images
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![Horngren's Cost Accounting: A Managerial Emphasis…](https://www.bartleby.com/isbn_cover_images/9780134475585/9780134475585_smallCoverImage.gif)
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
![Intermediate Accounting](https://www.bartleby.com/isbn_cover_images/9781259722660/9781259722660_smallCoverImage.gif)
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
![Financial and Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781259726705/9781259726705_smallCoverImage.gif)
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education