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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.

1.

GENERAL JOURNAL Page 1


Date Description Post. Ref. Debit Credit
20--
April 1 Cash 111 20,000
T. Sanchez, Capital 311 20,000
Investment of cash by owner.

5 Accounts Receivable 113 7,500


Professional Fees 411 7,500
Sold services on account,
R. Miller, Inv. No. 100

7 Advertising Expense 513 250


Cash 111 250
Paid advertising expense, Ck. No. 1001.

8 Supplies 115 420


Accounts Payable 221 420
Bought supplies on account,
Taylor Supply, Inv. No. 2340.

9 Cash 111 2,530


Professional Fees 411 2,530
Performed services for cash.

15 Utilities Expense 514 280


Cash 111 280
Paid utility bill, Ck. No. 1002.

17 Office Furniture 124 1,800


Accounts Payable 221 1,500
Cash 111 300
Bought office furniture on account, Lewis
Furniture, and with cash, Ck. No. 1003.

20 Prepaid Insurance 117 1,800


Cash 111 1,800
Bought liability insurance, Ck. No. 1004.
GENERAL JOURNAL Page 2

Date Description Post. Ref. Debit Credit


20--
April 21 Rent Expense 512 1,000
Cash 111 1,000
Paid rent for month, Ck. No. 1005.

25 Accounts Payable 221 420


Cash 111 420
Paid Taylor Supply on account, Ck.
No. 1006.

27 Cash 111 7,500


Accounts Receivable 113 7,500
Received payment from R. Miller on
account.

28 Utilities Expense 514 150


Cash 111 150
Paid telephone bill, Ck. No. 1007.

29 Salary Expense 511 1,030


Cash 111 1,030
Paid office assistant's salary,
Ck. No. 1008.

30 T. Sanchez, Drawing 312 3,000


Cash 111 3,000
Withdrawal for personal use.
Ck. No. 1009.
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.
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

Account Accounts Receivable Account No.


Balance
Post.
Date Item Ref. Debit Credit Debit
20--
April 5 7,500 7,500
27 7,500 -

Account Supplies Account No.


Balance
Post.
Date Item Ref. Debit Credit Debit
20--
April 8 420 420

Account Prepaid Insurance Account No.


Balance
Post.
Ref.
Post.
Date Item Ref. Debit Credit Debit
20--
April 20 1,800 1,800

Account Office Furniture Account No.


Balance
Post.
Date Item Ref. Debit Credit Debit
20--
April 17 1,800 1,800

Account Accounts Payable Account No.


Balance
Post.
Date Item Ref. Debit Credit Debit
20--
April 8 420
17 1,500
25 420

Account T. Sanchez, Capital Account No.


Balance
Post.
Date Item Ref. Debit Credit Debit
20--
April 1 20,000

Account T. Sanchez, Drawing Account No.


Balance
Post.
Date Item Ref. Debit Credit Debit
20--
April 30 3,000 3,000

Account Professional Fees Account No.


Balance
Post.
Date Item Ref. Debit Credit Debit
20--
April 5 7,500
9 2,530

Account Salary Expense Account No.


Balance
Post.
Date Item Ref. Debit Credit Debit
20--
April 29 1,030 1,030

Account Rent Expense Account No.


Balance
Post.
Date Item Ref. Debit Credit Debit
20--
April 21 1,000 1,000

Account Advertising Expense Account No.


Balance
Post.
Date Item Ref. Debit Credit Debit
20--
April 7 250 250

Account Utilities Expense Account No.


Balance
Post.
Date Item Ref. Debit Credit Debit
20--
April 15 280 280
28 150 430
rect answer.

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.

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