12 of 3 Required information [The following information applies to the questions displayed below.] Sye Chase...

Transcribed Image Text:

12 of 3 Required information [The following information applies to the questions displayed below.] Sye Chase started and operated a small family architectural firm in Year 1. The firm was affected by two events: (1) Chase provided $24,900 of services on account, and (2) he purchased $3,600 of supplies on account. There were $850 of supplies on hand as of December 31, Year 1. 023-48) ook Required a. b. & e. Record the two transactions in the T-accounts. Record the required year-end adjusting entry to reflect the use of supplies and the required closing entries. Post the entries in the T-accounts and prepare a post-closing trial balance. Note: Select "a1, a2, or b" for the transactions in the order they take place. Select "cl" for closing entries. If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Part 2 of 3 Note: Select "a1, a2, or b" for the transactions in the order they take place. Select "cl" for closing entries. If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Accounts Receivable Debit Credit ints Beginning Balance Supplies Debit Credit Beginning Balance 24,900 002315 24,900 0 Ending Balance al. a2. Accounts Payable Retained Earnings eBook Credit Debit Credit b. Beginning Balance d Print Ferences Ending Balance Ending Balance Service Revenue Supplies Expense Debit Credit Debit Credit Beginning Balance Beginning Balance Ending Balance Ending Balance bints 0023.02 View transaction list Journal entry worksheet 2 Record the closure of service revenue. eBook Print References Note: Enter debits before credits. Date: December 31 General Journal Debit Credit Record entry Clear entry View general journal Part 2 of 3 10 points 00:22:51 View transaction list Journal entry worksheet 1 Record the closure of supplies expenses. ellook Print References Note: Enter debits before credits. Date December 311 General Journal Debit Credit Clear entry View general journal Record entry CHASE ARCHITECTURAL SERVICES Post-Closing Trial Balance December 31, Year 1 Account Titles Debit Credit Totals $ 0 $ 0 12 of 3 Required information [The following information applies to the questions displayed below.] Sye Chase started and operated a small family architectural firm in Year 1. The firm was affected by two events: (1) Chase provided $24,900 of services on account, and (2) he purchased $3,600 of supplies on account. There were $850 of supplies on hand as of December 31, Year 1. 023-48) ook Required a. b. & e. Record the two transactions in the T-accounts. Record the required year-end adjusting entry to reflect the use of supplies and the required closing entries. Post the entries in the T-accounts and prepare a post-closing trial balance. Note: Select "a1, a2, or b" for the transactions in the order they take place. Select "cl" for closing entries. If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Part 2 of 3 Note: Select "a1, a2, or b" for the transactions in the order they take place. Select "cl" for closing entries. If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Accounts Receivable Debit Credit ints Beginning Balance Supplies Debit Credit Beginning Balance 24,900 002315 24,900 0 Ending Balance al. a2. Accounts Payable Retained Earnings eBook Credit Debit Credit b. Beginning Balance d Print Ferences Ending Balance Ending Balance Service Revenue Supplies Expense Debit Credit Debit Credit Beginning Balance Beginning Balance Ending Balance Ending Balance bints 0023.02 View transaction list Journal entry worksheet 2 Record the closure of service revenue. eBook Print References Note: Enter debits before credits. Date: December 31 General Journal Debit Credit Record entry Clear entry View general journal Part 2 of 3 10 points 00:22:51 View transaction list Journal entry worksheet 1 Record the closure of supplies expenses. ellook Print References Note: Enter debits before credits. Date December 311 General Journal Debit Credit Clear entry View general journal Record entry CHASE ARCHITECTURAL SERVICES Post-Closing Trial Balance December 31, Year 1 Account Titles Debit Credit Totals $ 0 $ 0