Ampere Realty acts as an agent in buying, selling, renting, and managing real estate. The unadjusted trial balance on October 31, 2010, is shown below.

The following business transactions were completed by Ampere Realty during November 2010:
Nov. . Paid rent on office for month, $3,000.
2. Purchased office supplies on account, $1,000.
5. Paid annual insurance premiums, $2,400.
10. Received cash from clients on account, $25,000.
15. Purchased land for a future building site for $90,000, paying $10,000 in cash and giving a note payable for the remainder.
17. Paid creditors on account, $2,910.
20. Returned a portion of the office supplies purchased on November 2, receiving full credit for their cost, $200.
23. Paid advertising expense, $1,250.
27. Discovered an error in computing a commission; received cash from the salesperson for the overpayment, $400.
28. Paid automobile expense (including rental charges for an automobile), $900.
29. Paid miscellaneous expenses, $450.
30. Recorded revenue earned and billed to clients during the month, $31,750.
30. Paid salaries and commissions for the month, $13,500.
30. Withdrew cash for personal use, $1,000.
30. Rented land purchased on November 15 to local merchants association for use as a parking lot in December and January, during a street rebuilding program; received advance payment of $2,000.
Instructions
1. Record the November 1, 2010, balance of each account in the appropriate balance column of a four-column account, write Balance in the item section, and place a check mark (() in the Posting Reference column.
2. Journalize the transactions for November in a two-column journal. Journal entry explanations may be omitted.
3. Post to the ledger, extending the account balance to the appropriate balance column after each posting.
4. Prepare an unadjusted trial balance of the ledger as of November 30,2010.

Transcribed Image Text:

Ampere Realty Unadjusted Trial Balance October 31, 2010 Debit Balances Credit Balances 13,150 33,750 1,500 900 Cash 12 Accounts Receivable 13 Prepaid Insurance 14 Office Supplies 16 Land 21 Accounts Payable 22 Unearned Rent 23 Notes Payable 31 Maya Garmin, Capital 32 Maya Garmin, Drawing 41 Fees Earned 51 Salary and Commission Expense 52 Rent Expense 53 Advertising Expense 54 Automobile Expense 59 Miscellaneous Expense 11 6,510 16,490 1,000 130,000 74,100 15,000 8,900 2,750 1,950 153,000 153,000