Chapter 2, Problem 16E

Please verify that all June 1 balances are in the ledgers by comparing them to the May 31, 2021 trial balance before posting. There are two tabs in the Excel spreadsheet: Income Statement Accounts and Balance Sheet Accounts. You will need both tabs to post to all the accounts. Use the given information from the General Journal below to fill in the Ledger for the balance sheet and income statement account sheets through the month of June. General Journal Date Description Post Ref. Debit Credit June 3 Inventory 116 50,400     Accounts Payable 210   50,400 June 6 Accounts Receivable 111 17,400     Sales 410   17,400   Costs Of Goods Sold 510 12,000     Inventory 116   12,000 June 8 Notes Receivable 114 500     Bad Debt Expense 522   500 June 10 Cash 104 40,000     Salaries Payable 211   40,000   Cash 104 26,000     Office Salaries Expense…

Inner Resources Company started its business on April 1, 2019. The following transactions occurred during the month of April and recorded the following entries. A. The owners invested $8,500 from their personal account to the business account B. Paid rent $850 with check #101. C. Initiated a petty cash fund $550 with check #102. D. Received $800 cash for services rendered. E. Purchased office supplies for $180 with check #103. F. Purchased computer equipment $9,000, paid $1,600 with check #104 and will pay the remainder in 30 days. G. Received $1,200 cash for services rendered. H. Paid wages $560, check #105. I. Petty cash reimbursement: Office supplies $250, Maintenance Expense $140, Miscellaneous Expense $65. Cash on Hand $37. Check #106. J. Increased Petty Cash by $100, check #107. A. Cash 8,500 Inner Resources Company, Capital 8,500 В. Rent Expense 850 Cash 850 C. Petty Cash 550 Cash 550 D. Cash 800 Services Income 800 E. Office Supplies 180 Cash 180 F. Computer Equipment 9,000…

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