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All Journals and General Ledger; Trial Balance

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	Accounts Receivable	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

2. Journalize the transactions for December, using the required journal(s). Assume that the daily postings to the individual accounts in the accounts payable subsidiary ledger and the accounts receivable subsidiary ledger have been made.

2a. Journalize the transactions for December, using the purchases journal (with columns for Accounts Payable, Maintenance Supplies, Office Supplies, and Other Accounts). Assume that the daily postings to the individual accounts in the accounts payable subsidiary ledger and the accounts receivable subsidiary ledger have been made.

If no entry is required, type "No entry required" and leave the amount boxes blank.

If an amount box does not require an entry, leave it blank.

PURCHASES JOURNAL								PAGE 37
Date	Account Credited	Post. Ref.	Accounts Payable Cr.	Maintenance Supplies Dr.	Office Supplies Dr.	Other Accounts Dr.	Post. Ref.	Amount
		✔
		✔
		✔
		✔
		✔
			(21)	(14)	(15)			✔

2b. Journalize the transactions for December, using the cash receipts journal. Assume that the daily postings to the individual accounts in the accounts payable subsidiary ledger and the accounts receivable subsidiary ledger have been made.

If an amount box does not require an entry, leave it blank.

CASH RECEIPTS JOURNAL					PAGE 31
Date	Account Credited	Post. Ref.	Other Accounts Cr.	Accounts Receivable Cr.	Cash Dr.
		✔
		✔
		✔
		✔
			(✔)	(12)	(11)

2c. Journalize the transactions for December, using the single-column revenue journal. Assume that the daily postings to the individual accounts in the accounts payable subsidiary ledger and the accounts receivable subsidiary ledger have been made.

REVENUE JOURNAL				PAGE 35
Date	Invoice No.	Account Debited	Post. Ref.	Accounts Rec. Dr. Fees Earned Cr.
			✔
			✔
			✔
			✔
			✔
				(12) (41)

2d. Journalize the transactions for December, using the cash payments journal. Assume that the daily postings to the individual accounts in the accounts payable subsidiary ledger and the accounts receivable subsidiary ledger have been made.

If an amount box does not require an entry, leave it blank.

CASH PAYMENTS JOURNAL						PAGE 34
Date	Ck. No.	Account Debited	Post. Ref.	Other Accounts Dr.	Accounts Payable Dr.	Cash Cr.
			✔
			✔
			✔
			✔
			✔
				(✔)	(21)	(11)

2e. Journalize the transactions for December, using the two-column general journal. Assume that the daily postings to the individual accounts in the accounts payable subsidiary ledger and the accounts receivable subsidiary ledger have been made.

If an amount box does not require an entry, leave it blank.

JOURNAL				PAGE 1
Date	Description	Post. Ref.	Debit	Credit

3. Post the appropriate individual entries to the general ledger.

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.

GENERAL LEDGER
					Balance
Date	Item	Post. Ref.	Debit	Credit	Dr.	Cr.
Account: Cash #11
Dec. 1	Balance	✔
Account: Accounts Receivable #12
Dec. 1	Balance	✔
Account: Maintenance Supplies #14
Dec. 1	Balance	✔
Account: Office Supplies #15
Dec. 1	Balance	✔
Account: Office Equipment #16
Dec. 1	Balance	✔
Account: Accumulated Depreciation - Office Equipment #17
Dec. 1	Balance	✔
Account: Vehicles #18
Dec. 1	Balance	✔
Account: Accumulated Depreciation - Vehicles #19
Dec. 1	Balance	✔
Account: Accounts Payable #21
Dec. 1	Balance	✔
Account: S. Holmes, Capital #31
Dec. 1	Balance	✔
Account: S. Holmes, Drawing #32
Account: Fees Earned #41
Account: Driver Salaries Expense #51
Account: Maintenance Supplies Expense #52
Account: Fuel Expense #53
Account: Office Salaries Expense #61
Account: Rent Expense #62
Dec. 1
Account: Advertising Expense #63
Account: Miscellaneous Administrative Expense #64

5. Prepare a trial balance.

If an amount box does not require an entry, leave it blank.

REVERE COURIER COMPANY Unadjusted Trial Balance December 31
	Debit Balances	Credit Balances
Cash
Accounts Receivable
Maintenance Supplies
Office Supplies
Office Equipment
Accumulated Depreciation - Office Equipment
Vehicles
Accumulated Depreciation - Vehicles
Accounts Payable
S. Holmes, Capital
S. Holmes, Drawing
Fees Earned
Driver Salaries Expense
Maintenance Supplies Expense
Office Salaries Expense
Fuel Expense
Rent Expense
Advertising Expense
Miscellaneous Administrative Expense

Answer 1