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All Journals and General Ledger; Trial Balance The transactions completed by Revere Courier Company during December,...

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

Solutions

Expert Solution

General Ledger
Revere Courier Company
Cash A/c
Balance
Date Item Ref No. Debit Credit Debit Credit
1-Dec Balance $              161,680.00
1-Dec Rent $                                4,200.00 $              157,480.00
3-Dec Acounts Receivable $                       4,800.00 $              162,280.00
9-Dec Fuel Expenses $                                    600.00 $              161,680.00
10-Dec Accounts Receivable $                       4,040.00 $              165,720.00
10-Dec Accounts Payable $                                    330.00 $              165,390.00
11-Dec Accounts Payable $                                3,090.00 $              162,300.00
11-Dec Accounts Payable $                                    500.00 $              161,800.00
12-Dec Accounts Receivable $                       1,740.00 $              163,540.00
13-Dec Accounts Payable $                              37,300.00 $              126,240.00
16-Dec Vehicle $                              39,800.00 $                86,440.00
16-Dec Fees Earned $                    20,300.00 $              106,740.00
17-Dec Misc Expenses $                                    500.00 $              106,240.00
20-Dec Advertisement $                                1,780.00 $              104,460.00
24-Dec Drawings $                                3,000.00 $              101,460.00
25-Dec Accounts Receivable $                       4,100.00 $              105,560.00
26-Dec Accounts Payable $                                4,500.00 $              101,060.00
30-Dec Salaries $                              24,000.00 $                77,060.00
31-Dec Fees Earned $                    18,900.00 $                95,960.00
31-Dec Office Supplies $                                    340.00 $                95,620.00
Total $                    53,880.00 $                            119,940.00
Accounts receivable
Balance
Date Item Ref No. Debit Credit Debit Credit
1-Dec Balance $                12,940.00
2-Dec $                       1,740.00 $                14,680.00
3-Dec $                                4,800.00 $                   9,880.00
6-Dec $                       3,871.00 $                13,751.00
10-Dec $                                4,040.00 $                   9,711.00
10-Dec $                       1,970.00 $                11,681.00
12-Dec $                                1,740.00 $                   9,941.00
24-Dec $                       6,100.00 $                16,041.00
25-Dec $                       5,530.00 $                21,571.00
25-Dec $                                4,100.00 $                17,471.00
$                    19,211.00 $                              14,680.00
Maintenance Supplies
Balance
Date Item Ref No. Debit Credit Debit Credit
1-Dec Balance $                10,850.00
18-Dec $                       1,750.00 $                12,600.00
19-Dec $                       1,500.00 $                14,100.00
20-Dec $                                3,200.00 $                10,900.00
Office Supplies
Balance
Date Item Ref No. Debit Credit Debit Credit
1-Dec Balance $                   4,900.00
19-Dec $                          375.00 $                   5,275.00
23-Dec $                          400.00 $                   5,675.00
31-Dec $                          340.00 $                   6,015.00
Office Equipment
Balance
Date Item Ref No. Debit Credit Debit Credit
1-Dec Balance $                28,500.00
6-Dec $                       4,500.00 $                33,000.00
Vehicle
Balance
Date Item Ref No. Debit Credit Debit Credit
1-Dec Balance $                95,900.00
5-Dec $                    37,300.00 $              133,200.00
16-Dec $                    39,800.00 $              173,000.00
Fuel expenses
Balance
Date Item Ref No. Debit Credit Debit Credit
1-Dec Balance
9-Dec $                          600.00 $                      600.00
Accounts Payable
Balance
Date Item Ref No. Debit Credit Debit Credit
1-Dec $                   3,920.00
5-Dec $                              37,300.00 $                 41,220.00
6-Dec $                                4,500.00 $                 45,720.00
10-Dec $                      330.00 $                 45,390.00
11-Dec $                   3,090.00 $                 42,300.00
11-Dec $                      500.00 $                 41,800.00
13-Dec $                37,300.00 $                   4,500.00
18-Dec $                                1,750.00 $                   6,250.00
19-Dec $                                1,875.00 $                   8,125.00
23-Dec $                                    400.00 $                   8,525.00
26-Dec $                   4,500.00 $                   4,025.00
Accumulated Depreciation-Office Equipment
Balance
Date Item Ref No. Debit Credit Debit Credit
31-Dec $                   6,900.00
Accumulated Depreciation-Vehicle
Balance
Date Item Ref No. Debit Credit Debit Credit
31-Dec $                 14,700.00
S.Holmes Capital
Balance
Date Item Ref No. Debit Credit Debit Credit
31-Dec $               289,250.00
S.Holmes Drawings
Balance
Date Item Ref No. Debit Credit Debit Credit
24-Dec $                       3,000.00 $                   3,000.00
Fees Earned
Balance
Date Item Ref No. Debit Credit Debit Credit
16-Dec $                              20,300.00 $                 20,300.00
31-Dec $                              18,900.00 $                 39,200.00
31-Dec $                              19,211.00 $                 58,411.00
Driver salary Exenses
Balance
Date Item Ref No. Debit Credit Debit Credit
30-Dec $                    16,900.00 $                16,900.00
Office Salaries
Balance
Date Item Ref No. Debit Credit Debit Credit
30-Dec $                       7,100.00 $                   7,100.00
Maintenance supplies Expenses
Balance
Date Item Ref No. Debit Credit Debit Credit
20-Dec $                       3,200.00 $                   3,200.00
Rent Expenses
Balance
Date Item Ref No. Debit Credit Debit Credit
1-Dec $                       4,200.00 $                   4,200.00
Advertisement Expenses
Balance
Date Item Ref No. Debit Credit Debit Credit
20-Dec $                       1,780.00 $                   1,780.00
Miscellaneous Administrative Expenses
Balance
Date Item Ref No. Debit Credit Debit Credit
17-Dec $                          500.00 $                      500.00
Revere Courier Company
Purchase Journal
Date Amount Credited Post Ref. Accounts Payable (Cr) Maintenance Supplies(Dr) Office supplies (Dr) Other Accounts (Dr) Post Ref. Amount
5-Dec Platinum Motors $                    37,300.00 $                 37,300.00
6-Dec Austin Computer Company $                       4,500.00 $                   4,500.00
18-Dec Essential Supply Co. $                                1,750.00
19-Dec Mc.Clain Co. $                       1,875.00 $                                1,500.00 $                      375.00
23-Dec GO.Inc $                          400.00 $                      400.00
31-Dec $                    44,075.00 $                                3,250.00 $                      775.00 $                 41,800.00
Revere Courier Company
Unadjusted Trial Balance
December 31st
Debit Credit
Cash $     95,620.00
Accounts Receivable $     17,471.00
Maintenane Supplies $     10,900.00
Offie Supplies $       6,015.00
Offie Equipment $     33,000.00
Acumulated Depreciation-Office Equipment 6900
Vehicle $ 173,000.00
Accumulated Depreciation-Vehicle 14700
Accounts Payable 4025
S.Holmes, Capital 289250
S.Holmes, Drawings 3000
Fees Earned 58411
Driver Salaries Expenses 16900
Maintenance Supplies Expenses 3200
Office Salaries Expenses 7100
Fuel Expense 600
Rent Expense 4200
Advertisement Expense 1780
Miscellaneous Administrative Expense 500
Total $ 373,286.00 $                  373,286.00

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