Escolar Documentos
Profissional Documentos
Cultura Documentos
For this problem, the journal, ledger, and statements are under separate tabs.
Enter the appropriate amounts/formulas in the shaded (gray) cells, or select from the drop-down lists.
Not all cells should be populated. An asterisk (*) will appear in the column to the right of an incorrect answer.
1.
For this problem, the journal, ledger, and statements are under separate tabs.
Enter the appropriate amounts/formulas in the shaded (gray) cells.
Not all cells should be populated. An asterisk (*) will appear in the column to the right of an incorrect answer.
Post the entries to the general ledger as per the given order of transactions.
2.
GENERAL LEDGER
Account Cash Account No.
Balance
Post.
Date Item Ref. Debit Credit Debit
20--
April 1 20,000 20,000
7 250 19,750
9 2,530 22,280
15 280 22,000
17 300 21,700
20 1,800 19,900
21 1,000 18,900
25 420 18,480
27 7,500 25,980
28 150 25,830
29 1,030 24,800
30 3,000 21,800
111
Balance
Credit
113
Balance
Credit
115
Balance
Credit
117
Balance
Credit
124
Balance
Credit
221
Balance
Credit
420
1,920
1,500
311
Balance
Credit
20,000
312
Balance
Credit
411
Balance
Credit
7,500
10,030
511
Balance
Credit
512
Balance
Credit
513
Balance
Credit
514
Balance
Credit
Problem 3-5A Name:
For this problem, the journal, ledger, and statements are under separate tabs.
Enter the appropriate amounts/formulas in the shaded (gray) cells, or select from the drop-down lists.
Not all cells should be populated. An asterisk (*) will appear in the column to the right of an incorrect answer.
3.
Sanchez Realty Company
Trial Balance
April 30, 20--
Debits Credits
Cash 21,800
Supplies 420
Prepaid Insurance 1,800
Office Furniture 1,800
Accounts Payable 1,500
T. Sanchez, Capital 20,000
T. Sanchez, Drawing 3,000
Professional Fees 10,030
Salary Expense 1,030
Rent Expense 1,000
Advertising Expense 250
Utilities Expense 430
Totals 31,530 31,530
4.
Sanchez Realty Company
Income Statement
For the Month Ended April 30, 20--
Revenue:
Professional Fees $ 10,030
Expenses:
Salary Expense $ 1,030
Rent Expense 1,000
Advertising Expense 250
Utilities Expense 430
Total Expenses 2,710
Net Income $ 7,320
5.
Sanchez Realty Company
Statement of Owner's Equity
For the Month Ended April 30, 20--
T. Sanchez, Capital, April 1, 20-- $ -
Add Investments during Month $ 20,000
Add Net Income for the Month 7,320
Subtotal $ 27,320
Deduct Withdrawals for the Month 3,000
Increase in Capital 24,320
T. Sanchez, Capital, April 30, 20-- $ 24,320
6.
Sanchez Realty Company
Balance Sheet
April 30, 20--
Assets
Cash $ 21,800
Supplies 420
Prepaid Insurance 1,800
Office Furniture 1,800
Total Assets $ 25,820
Liabilities
Accounts Payable $ 1,500
Owner's Equity
T. Sanchez, Capital 24,320
Total Liabilities and Owner's Equity $ 25,820
correct answer.