Tom Zopf owns and manages a computer repair service, which had the following trial balance on...
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Tom Zopf owns and manages a computer repair service, which had the following trial balance on December 31, 2016 (the end of its fiscal year). TABLETTE REPAIR SERVICE, INC. Trial Balance December 31, 2016 Debit $ 7,900 15,700 12,500 3,200 20,300 Cash Accounts Receivable Supplies Prepaid Rent Equipment Accounts Payable Common Stock Retained Earnings. $59,600 Credit $19,000 30,100 10,500 $59,600 Summarized transactions for January 2017 were as follows. 1. Advertising costs, paid in cash, $1,170. 2. Additional supplies acquired on account $3,670. 3. Miscellaneous expenses, paid in cash, $1,790. 4. 5. 6. 7. 8. Cash collected from customers in payment of accounts receivable $12,160. Cash paid to creditors for accounts payable due $12,240. Repair services performed during January: for cash $6,870; on account $8,670. Wages for January, paid in cash, $2,230. Dividends during January were $2,690. ▼ (c) Post the journal entries to the accounts in the ledger. (Post entries in the order of journal entries presented in the previous part.) Cash Bal. Bal. Bal. Bal. Bal. ▼ ▼ ▼ ▼ ▼ ▼ ▼ ▼ ▼ ▼ ▼ ▼ ▼ ▼ ▼ ▼ ▼ V 7,900 Supplies 12,500 Prepaid Rent 3,200 Equipment V ▼ Accounts Receivable 15,700 ▼ Bal. ▼ ▼ ▼ ▼ ▼ ▼ ▼ 20,300 Accounts Payable ▼ ▼ Common Stock Bal. Retained Earnings Bal. Dividends ▼ Service Revenue ▼ Advertising Expense Miscellaneous Expense Salaries and Wages Expense ▼ 19,000 30,100 10,500 Tom Zopf owns and manages a computer repair service, which had the following trial balance on December 31, 2016 (the end of its fiscal year). TABLETTE REPAIR SERVICE, INC. Trial Balance December 31, 2016 Debit $ 7,900 15,700 12,500 3,200 20,300 Cash Accounts Receivable Supplies Prepaid Rent Equipment Accounts Payable Common Stock Retained Earnings. $59,600 Credit $19,000 30,100 10,500 $59,600 Summarized transactions for January 2017 were as follows. 1. Advertising costs, paid in cash, $1,170. 2. Additional supplies acquired on account $3,670. 3. Miscellaneous expenses, paid in cash, $1,790. 4. 5. 6. 7. 8. Cash collected from customers in payment of accounts receivable $12,160. Cash paid to creditors for accounts payable due $12,240. Repair services performed during January: for cash $6,870; on account $8,670. Wages for January, paid in cash, $2,230. Dividends during January were $2,690. ▼ (c) Post the journal entries to the accounts in the ledger. (Post entries in the order of journal entries presented in the previous part.) Cash Bal. Bal. Bal. Bal. Bal. ▼ ▼ ▼ ▼ ▼ ▼ ▼ ▼ ▼ ▼ ▼ ▼ ▼ ▼ ▼ ▼ ▼ V 7,900 Supplies 12,500 Prepaid Rent 3,200 Equipment V ▼ Accounts Receivable 15,700 ▼ Bal. ▼ ▼ ▼ ▼ ▼ ▼ ▼ 20,300 Accounts Payable ▼ ▼ Common Stock Bal. Retained Earnings Bal. Dividends ▼ Service Revenue ▼ Advertising Expense Miscellaneous Expense Salaries and Wages Expense ▼ 19,000 30,100 10,500
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Cash Account S No Particulars Debit S No Particulars Credit Beginning balance 790000 1 Advertising Expense 117000 4 Accounts receivables 1216000 3 Mis... View the full answer
Related Book For
Financial Accounting
ISBN: 978-1118334324
9th edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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