The chart below is a General Journal that reflects accounts made for foregoing transactions in the accounts.
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Question:
The chart below is a General Journal that reflects accounts made for foregoing transactions in the accounts. Use this General Journal to create a Trial Balance.
| ||||||||||||
Dec. | ||||||||||||
1. | Cash | $ 65,000.00 | ||||||||||
Common stock | $ 65,000.00 | |||||||||||
( To record issuance of common stock. ) | ||||||||||||
2. | Rent expense | 5,000 | ||||||||||
Advertising expense | 5,000 | |||||||||||
( To record payment of office rent. ) | ||||||||||||
3. | Advertising expense | 550 | ||||||||||
Accounts payable | 550 | |||||||||||
( To record purchase on account for T-shirts used for advertising. ) | ||||||||||||
4. | Accounts payable | 475 | ||||||||||
Cash | 475 | |||||||||||
( To record payment owed on account. ) | ||||||||||||
5. | Cash | 2,800 | ||||||||||
Wants ad revenue | 2,800 | |||||||||||
( To record collection want ad revenue. ) | ||||||||||||
6. | Delivery expense | 810 | ||||||||||
Cash | 810 | |||||||||||
( To record payment to post office for bulk mailing. ) | ||||||||||||
7. | Accounts receivable | 6,300 | ||||||||||
Advertising revenue | 6,300 | |||||||||||
( To record billing for advertising. ) | ||||||||||||
8. | Delivery expense | 70 | ||||||||||
Cash | 70 | |||||||||||
To record payment for courier service. ) | ||||||||||||
9. | Printing expense | 3,900 | ||||||||||
Cash | 3,900 | |||||||||||
( To record payment for printing. ) | ||||||||||||
10. | Cash | 4,570 | ||||||||||
Want ad revenue | 4,570 | |||||||||||
( To record the collection of want ad revenue. ) | ||||||||||||
11. | Utility expense | 510 | ||||||||||
Accounts payable | 510 | |||||||||||
( To record the December utilities invoice. ) | ||||||||||||
12. | Printing expense | 4,400 | ||||||||||
Cash | 4,400 | |||||||||||
( To record payment for printing. ) | ||||||||||||
13. | Salaries expense | 6,100 | ||||||||||
Cash | 6,100 | |||||||||||
( To record payment of salaries. ) | ||||||||||||
14. | Accounts receivable | 8,950 | ||||||||||
Advertising revenue | 8,950 | |||||||||||
( To record billings for advertising revenue. ) | ||||||||||||
15. | Delivery expense | 630 | ||||||||||
Cash | 630 | |||||||||||
(To record payment to the post office for bulk mailing. ) | ||||||||||||
16. | Delivery expense | 90 | ||||||||||
Cash | 90 | |||||||||||
( To record payment for courier service. ) | ||||||||||||
17. | Cash | 5,100 | ||||||||||
Accounts receivable | 5,100 | |||||||||||
( To record collection of receivables. ) | ||||||||||||
18. | Office equipment | 3,100 | ||||||||||
Notes payable | 3,100 | |||||||||||
( To record purchase of fax machine. ) | ||||||||||||
QUESTION:
Prepare a Trial Balance Sheet accordingly.
Related Book For
Interpreting and Analyzing Financial Statements
ISBN: 978-0132746243
6th edition
Authors: Karen P. Schoenebeck, Mark P. Holtzman
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