In: Accounting
skip 5 last one unadjusted trial balance do rest thanks
All Journals and General Ledger; Trial Balance
The transactions completed by AM Express Company during March, the first month of the fiscal year, were as follows:
Mar. 1. | Issued Check No. 205 for March rent, $2,450. | |
2. | Purchased a vehicle on account from McIntyre Sales Co., $26,900. | |
3. | Purchased office equipment on account from Office Mate Inc., $1,570. | |
5. | Issued Invoice No. 91 to Ellis Co., $7,000. | |
6. | Received check for $7,950 from Chavez Co. in payment of invoice. | |
7. | Issued Invoice No. 92 to Trent Co., $9,840. | |
9. | Issued Check No. 206 for fuel expense, $820. | |
10. | Received check for $10,000 from Sajeev Co. in payment of invoice. | |
10. | Issued Check No. 207 to Office City in payment of $450 invoice. | |
10. | Issued Check No. 208 to Bastille Co. in payment of $1,890 invoice. | |
11. | Issued Invoice No. 93 to Jarvis Co., $7,200. | |
11. | Issued Check No. 209 to Porter Co. in payment of $415 invoice. | |
12. | Received check for $7,000 from Ellis Co. in payment of March 5 invoice. | |
13. | Issued Check No. 210 to McIntyre Sales Co. in payment of $26,900 invoice of March 2. | |
16. | Cash fees earned for March 1–16, $26,800. | |
16. | Issued Check No. 211 for purchase of a vehicle, $28,500. | |
17. | Issued Check No. 212 for miscellaneous administrative expense, $4,680. | |
18. | Purchased maintenance supplies on account from Bastille Co., $2,430. | |
18. | Received check for rent revenue on office space, $900. | |
19. | Purchased the following on account from Master Supply Co.: maintenance supplies, $2,640, and office supplies, $1,500. | |
20. | Issued Check No. 213 in payment of advertising expense, $8,590. | |
20. | Used maintenance supplies with a cost of $4,400 to repair vehicles. | |
21. | Purchased office supplies on account from Office City, $990. | |
24. | Issued Invoice No. 94 to Sajeev Co., $9,200. | |
25. | Received check for $14,000 from Chavez Co. in payment of invoice. | |
25. | Issued Invoice No. 95 to Trent Co., $6,300. | |
26. | Issued Check No. 214 to Office Mate Inc. in payment of $1,570 invoice of March 3. | |
27. | Issued Check No. 215 to J. Wu as a personal withdrawal, $4,000. | |
30. | Issued Check No. 216 in payment of driver salaries, $33,300. | |
31. | Issued Check No. 217 in payment of office salaries, $21,200. | |
31. | Issued Check No. 218 for office supplies, $600. | |
31. | Cash fees earned for March 17–31, $29,400. |
Required:
1. The following accounts are setup in the general ledger as of March 1. Using the information below, enter the balances for each account.
11 | Cash | $65,200 | 32 | J. Wu, Drawing | - | |
12 | Accounts Receivable | 31,950 | 41 | Fees Earned | - | |
14 | Maintenance Supplies | 7,240 | 42 | Rent Revenue | - | |
15 | Office Supplies | 3,690 | 51 | Driver Salaries Expense | - | |
16 | Office Equipment | 17,300 | 52 | Maintenance Supplies Expense | - | |
17 | Accum. Depr.—Office Equip. | 4,250 | 53 | Fuel Expense | - | |
18 | Vehicles | 62,400 | 61 | Office Salaries Expense | - | |
19 | Accum. Depr.—Vehicles | 17,800 | 62 | Rent Expense | - | |
21 | Accounts Payable | 2,755 | 63 | Advertising Expense | - | |
31 | J. Wu, Capital | 162,975 | 64 | Miscellaneous Administrative Exp. | - |
2. Journalize the transactions for March 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 March 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 |
Mar. 2 | Master Supply Co. | ? | Office City | |||||
Mar. 18 | Master Supply Co. | ? | Bastille Co. | |||||
Mar. 2 | Bastille Co. | ? | Master Supply Co. | |||||
Mar. 18 | Master Supply Co. | ? | Bastille Co. | |||||
Mar. 2 | Office Mate Inc. | ? | Office Equipment | |||||
Mar. 19 | ||||||||
(21) | (14) | (15) | (?) |
2b. Journalize the transactions for March 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. |
Mar. 6 | Rent Revenue | ? | |||
Mar. 10 | Rent Revenue | ? | |||
Mar. 12 | Rent Revenue | ? | |||
Mar. 16 | Fees Earned | ||||
Mar. 18 | Rent Revenue | ||||
Mar. 25 | Rent Revenue | ? | |||
Mar. 31 | Fees Earned | ||||
(?) | (12) | (11) |
2c. Journalize the transactions for March 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. |
Mar. 5 | ? | |||
Mar. 7 | ? | |||
Mar. 11 | ? | |||
Mar. 24 | ? | |||
Mar. 24 | ? | |||
(41) (12) |
2d. Journalize the transactions for March 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. |
Mar. 1 | Rent Expense | |||||
Mar. 9 | ||||||
Mar. 10 | Fuel Expense | ? | ||||
? | ||||||
? | ||||||
? | ||||||
Misc. Admin. Expense | ||||||
Advertising Expense | ||||||
? | ||||||
J. Wu, Drawing | ||||||
Driver Salaries Expense | ||||||
Office Salaries Expense | ||||||
Office Supplies | ||||||
(?) | (21) | (11) |
2e. Journalize the transactions for March 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 | ||||||
Mar. 1 | Balance | ? | ||||
Account: Accounts Receivable #12 | ||||||
Mar. 1 | Balance | ? | ||||
Account: Maintenance Supplies #14 | ||||||
Mar. 1 | Balance | ? | ||||
Account: Office Supplies #15 | ||||||
Mar. 1 | Balance | ? | ||||
Account: Office Equipment #16 | ||||||
Mar. 1 | Balance | ? | ||||
Account: Accumulated Depreciation - Office Equipment #17 | ||||||
Mar. 1 | Balance | ? | ||||
Account: Vehicles #18 | ||||||
Mar. 1 | Balance | ? | ||||
Account: Accumulated Depreciation - Vehicles #19 | ||||||
Mar. 1 | Balance | ? | ||||
Account: Accounts Payable #21 | ||||||
Mar. 1 | Balance | ? | ||||
Account: J. Wu, Capital #31 | ||||||
Mar. 1 | Balance | ? | ||||
Account: J. Wu, Drawing #32 | ||||||
Mar. 27 | ||||||
Account: Fees Earned #41 | ||||||
Account: Rent Revenue #42 | ||||||
Mar. 18 | ||||||
Account: Driver Salaries Expense #51 | ||||||
Mar. 30 | ||||||
Account: Maintenance Supplies Expense #52 | ||||||
Mar. 20 | ||||||
Account: Fuel Expense #53 | ||||||
Mar. 9 | ||||||
Account: Office Salaries Expense #61 | ||||||
Mar. 31 | ||||||
Account: Rent Expense #62 | ||||||
Mar. 1 | ||||||
Account: Advertising Expense #63 | ||||||
Mar. 20 | ||||||
Account: Miscellaneous Administrative Expense #64 | ||||||
Mar. 17 |
5. Prepare a trial balance.
If an amount box does not require an entry, leave it blank.
AM EXPRESS COMPANY Unadjusted Trial Balance March 31 |
||
---|---|---|
Debit Balances | Credit Balances | |
Cash | ||
Accounts Receivable | ||
Maintenance Supplies | ||
Office Supplies | ||
Office Equipment | ||
Accumulated Depreciation - Office Equipment | ||
Vehicles | ||
Accumulated Depreciation - Vehicles | ||
Accounts Payable | ||
J. Wu, Capital | ||
J. Wu, Drawing | ||
Fees Earned | ||
Rent Revenue | ||
Driver Salaries Expense | ||
Maintenance Supplies Expense | ||
Fuel Expense | ||
Office Salaries Expense | ||
Rent Expense | ||
Advertising Expense | ||
Miscellaneous Administrative Expense | ||
Date | Account | Debit | Credit |
Oct 1 | Rent Expense | 2450 | |
Cash | 2450 | ||
Oct 2 | Vehicle | 26900 | |
Accounts Payable | 26900 | ||
Oct 3 | Office Equipment | 1570 | |
Accounts Payable | 1570 | ||
Oct 5 | Accounts Receivable | 7000 | |
Fee Earned | 7000 | ||
Oct 6 | Cash | 7950 | |
Accounts Receivable | 7950 | ||
Oct 7 | Accounts Receivable | 9840 | |
Fee Earned | 9840 | ||
Oct 9 | Fuel Expense | 820 | |
Cash | 820 | ||
Oct 10 | Cash | 10000 | |
Accounts Receivable | 10000 | ||
Oct 10 | Accounts Payable | 450 | |
Cash | 450 | ||
Oct 10 | Accounts Payable | 1890 | |
Cash | 1890 | ||
Oct 11 | Accounts Receivable | 7200 | |
Fee Earned | 7200 | ||
Oct 11 | Accounts Payable | 415 | |
Cash | 415 | ||
Oct 12 | Cash | 7000 | |
Accounts Receivable | 7000 | ||
Oct 13 | Accounts Payable | 26900 | |
Cash | 26900 | ||
Oct 16 | Cash | 26800 | |
Fee Earned | 26800 | ||
Oct 16 | Vehicle | 28500 | |
Cash | 28500 | ||
Oct 17 | Miscellaneous Administrative Expense | 4680 | |
Cash | 4680 | ||
Oct 18 | Maintenance Supplies | 2430 | |
Accoutns Payable | 2430 | ||
Oct 18 | Cash | 900 | |
Rent Revenue | 900 | ||
Oct 19 | Maintenance Supplies | 2640 | |
Office Supplies | 1500 | ||
Accoutns Payable | 4140 | ||
Oct 20 | Advertising Expense | 8590 | |
Cash | 8590 | ||
Oct 20 | Office Supplies Expense | 4400 | |
Office Supplies | 4400 | ||
Oct 21 | Office Supplies | 990 | |
Accoutns Payable | 990 | ||
Oct 24 | Accounts Receivable | 9200 | |
Fee Earned | 9200 | ||
Oct 25 | Cash | 14000 | |
Accounts Receivable | 14000 | ||
Oct 25 | Accounts Receivable | 6300 | |
Fee Earned | 6300 | ||
Oct 26 | Accounts Payable | 1570 | |
Cash | 1570 | ||
Oct 27 | J. Wu Drawing | 4000 | |
Cash | 4000 | ||
Oct 30 | Driver Salaries Expense | 33300 | |
Cash | 33300 | ||
Oct 31 | Office Salaries Expense | 21200 | |
Cash | 21200 | ||
Oct 31 | Office Supplies | 600 | |
Cash | 600 | ||
Oct 31 | Cash | 29400 | |
Fee Earned | 29400 |