The transactions completed by By Tomorrow Express Company during May 2012, the first month of the fiscal year, were as follows:

May 1. Issued Check No. 205 for May rent, $1,500.

2. Purchased a vehicle on account from McIntyre Sales Co., $23,700.

3. Purchased office equipment on account from Office Mate Inc., $640.

5. Issued Invoice No. 91 to Martin Co., $6,000.

6. Received check for $6,890 from Chavez Co. in payment of invoice.

7. Issued Invoice No. 92 to Trent Co., $8,650.

9. Issued Check No. 206 for fuel expense, $710.

10. Received check for $9,500 from Sajeev Co. in payment of invoice.

10. Issued Check No. 207 to Office City in payment of $500 invoice.

10. Issued Check No. 208 to Bastille Co. in payment of $1,450 invoice.

11. Issued Invoice No. 93 to Jarvis Co., $6,900.

11. Issued Check No. 209 to Porter Co. in payment of $375 invoice.

12. Received check for $6,000 from Martin Co. in payment of invoice.

13. Issued Check No. 210 to McIntyre Sales Co. in payment of $23,700 invoice.

16. Cash fees earned for May 1–16, $24,600.

16. Issued Check No. 211 for purchase of a vehicle, $24,000.

17. Issued Check No. 212 for miscellaneous administrative expense, $4,360.

18. Purchased maintenance supplies on account from Bastille Co., $1,790.

18. Received check for rent revenue on office space, $2,500.

19. Purchased the following on account from Master Supply Co.: maintenance supplies, $2,500, and office supplies, $2,000.

20. Issued Check No. 213 in payment of advertising expense, $7,810.

20. Used maintenance supplies with a cost of $4,200 to repair vehicles.

21. Purchased office supplies on account from Office City, $790.

24. Issued Invoice No. 94 to Sajeev Co., $8,000.

25. Received check for $12,500 from Chavez Co. in payment of invoice.

May 25. Issued Invoice No. 95 to Trent Co., $5,900.

26. Issued Check No. 214 to Office Mate Inc. in payment of $640 invoice.

27. Issued Check No. 215 to J. Wu as a personal withdrawal, $3,500.

30. Issued Check No. 216 in payment of driver salaries, $29,300.

31. Issued Check No. 217 in payment of office salaries, $19,400.

31. Issued Check No. 218 for office supplies, $560.

31. Cash fees earned for May 17–31, $22,400.

Instructions

1. Enter the following account balances in the general ledger as of May 1:

11 Cash .................$ 65,200

12 Accounts Receivable ............ 28,890

14 Maintenance Supplies ........... 7,240

15 Office Supplies ............... 3,690

16 Office Equipment ............ 17,300

17 Accum. Depr.—Office Equip. ......... 4,250

18 Vehicles ................. 62,400

19 Accum. Depr.—Vehicles ......... 17,800

21 Accounts Payable ............ 2,325

31 J. Wu, Capital .............. 160,345

32 J. Wu, Drawing............. —

41 Fees Earned ............... —

42 Rent Revenue ............... —

51 Driver Salaries Expense ........... —

52 Maintenance Supplies Expense ....... —

53 Fuel Expense .............. —

61 Office Salaries Expense ............ —

62 Rent Expense .............. —

63 Advertising Expense ........... —

64 Miscellaneous Administrative Exp. ...... —

2. Journalize the transactions for May 2012, using the following journals similar to those illustrated in this chapter: single-column revenue journal (p. 35), cash receipts journal (p. 31), purchases journal (p. 37, with columns for Accounts Payable, Maintenance Supplies, Office Supplies, and Other Accounts), cash payments journal (p. 34), and two-column general journal (p. 1). Assume that the daily postings to the individual accounts in the accounts payable ledger and the accounts receivable ledger have been made.

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.

5. Prepare a trial balance.