Journalize transactions from T accounts and prepare a trial balance. (LO 3, 5),
ID: 2331741 • Letter: J
Question
Journalize transactions from T accounts and prepare a trial balance.
(LO 3, 5), AP
E3-12BThe following T accounts summarize the ledger of Max’s Landscaping Company, Inc. at the end of the first month of operations.
Cash
Unearned Service Revenue
Apr. 1
25,000
Apr. 15
800
Apr. 30
1,900
12
700
25
3,500
29
800
30
1,900
Accounts Receivable
Common Stock
7
3,400
Apr. 29
800
Apr. 1
25,000
Supplies
Service Revenue
4
5,200
Apr. 7
3,400
12
700
Accounts Payable
Salaries and Wages Expense
25
3,500
Apr. 4
5,200
Apr. 15 800
Instructions
(a) Prepare, in the order they occurred, the journal entries (including explanations) that resulted in the amounts posted to the accounts.
(b) Prepare a trial balance at April 30, 2014. (Hint: Compute ending balances of T accounts first.)
Journalize transactions from T accounts and prepare a trial balance.
(LO 3, 5), AP
Explanation / Answer
Solution:
Part 1 – Journal Entries
Date
General Journal
Debit
Credit
Apr.1
Cash
$25,000
Common Stock
$25,000
Apr.4
Supplies
$5,200
Accounts Payable
$5,200
Apr.7
Accounts Receivable
$3,400
Service Revenue
$3,400
Apr.12
Cash
$700
Service Revenue
$700
Apr.15
Salaries and Wages Expense
$800
Cash
$800
Apr.25
Accounts Payable
$3,500
Cash
$3,500
Apr.29
Cash
$800
Accounts Receivable
$800
Apr.30
Cash
$1,900
Unearned Service Revenue
$1,900
Part 2 – Trial Balance at April 30, 2014
TRIAL BALANCE
April.30, 2014
Account Title
Debit
Credit
1
Cash (25000+700-800-3500+800+1900)
$24,100
2
Supplies
$5,200
3
Accounts Receivable (3400 - 800)
$2,600
4
Accounts Payable (5200 - 3500)
$1,700
5
Unearned Service Revenue
$1,900
6
Common Stock
$25,000
7
Service Revenue (3400 + 700)
$4,100
8
Salaries and Wages Expense
$800
Totals
$32,700
$32,700
Hope the above calculations, working and explanations are clear to you and help you in understanding the concept of question.... please rate my answer...in case any doubt, post a comment and I will try to resolve the doubt ASAP…thank you
Date
General Journal
Debit
Credit
Apr.1
Cash
$25,000
Common Stock
$25,000
Apr.4
Supplies
$5,200
Accounts Payable
$5,200
Apr.7
Accounts Receivable
$3,400
Service Revenue
$3,400
Apr.12
Cash
$700
Service Revenue
$700
Apr.15
Salaries and Wages Expense
$800
Cash
$800
Apr.25
Accounts Payable
$3,500
Cash
$3,500
Apr.29
Cash
$800
Accounts Receivable
$800
Apr.30
Cash
$1,900
Unearned Service Revenue
$1,900
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