Unearmed SetvIce Expense, and Salaries and Wages Expense. Instructions Journaliz
ID: 2339554 • Letter: U
Question
Unearmed SetvIce Expense, and Salaries and Wages Expense. Instructions Journalize the April transactions. P2-2A Julia Duma ness, Julia Dumars, Inc., the following events and transactions occurred aice ransactions post, P2-2A Julia Dumars is a licensed CPA. During the first month of operations of her prepare a trial balance transactions, post, 4, 6, 7) May 1 Stockholders invested $20,000 cash in exchange for common stock. ired a secretary-receptionist at a salary of $2,000 per month. 3 Purchased $1,500 of supplies on account from Vincent Supply Company 7 Paid office rent of $900 cash for the month. 11 Completed a tax assignment and billed client $2,800 for services performed 12 Received $3,500 advance on a management consulting engagement 17 Received cash of $1,200 for services performed for Orville Co. 3 31 Paid secretary-receptionist $2,000 salary for the month. Paid 40% of balance due Vincent Supply Company. 31 Julia uses the following chart of accounts: No. 101 Cash, No. 112 Accounts Receivable No. 126 Supplies, No. 201 Accounts Payable, No. 209 Unearned Service Revenue, No.311 Common Stock, No. 400 Service Rent Expense. Instructions (a) Journalize the transactions. Revenue, No. 726 Salaries and Wages Expense, and No. 729 (b) Post to the ledger accounts. ance totals $28,400 (c) Prepare a trial balance on May 31, 2015Explanation / Answer
Julia Dumars
Journal entries
date
account title & explanation
debit
credit
May-01
cash
20000
common stock
20000
(To record issued of common stock.)
May-02
No entry
May-03
Supplies
1500
account payable
1500
(To record purchase of supply.)
May-07
rent expense
900
cash
900
(To record Rent expense paid.)
May-11
account receivable
2800
service revenue
2800
(To record service performed.)
May-12
Cash
3500
unearned service revenue
3500
(To record advance received from client.)
May-17
Cash
1200
service revenue
1200
(To record service performed.)
May-31
salaries and wages expense
2000
Cash
2000
(To record salaries and wages expense paid.)
May-31
account payable (1500*40%)
600
Cash
600
(To record paid to account payable.)
cash
Date
debit
credit
balance
beg. Bal
0
May-01
20000
20000
May-07
900
19100
May-12
3500
22600
May-17
1200
23800
May-31
2000
21800
May-31
600
21200
End. Bal
21200
Supplies
date
debit
credit
balance
beg. Bal
0
May-03
1500
1500
End. Bal
1500
account receivable
date
debit
credit
balance
beg. Bal
0
May-11
2800
2800
End. Bal
2800
salaries and wages expense
date
debit
credit
balance
beg. Bal
0
May-31
2000
2000
End. Bal
2000
rent expense
date
debit
credit
balance
beg. Bal
0
May-07
900
900
End. Bal
900
account payable
date
debit
credit
balance
beg. Bal
0
May-03
1500
1500
May-31
600
900
End. Bal
900
unearned service revenue
date
debit
credit
balance
beg. Bal
0
May-12
3500
3500
End. Bal
3500
common stock
date
debit
credit
balance
beg. Bal
0
May-01
20000
20000
End. Bal
20000
service revenue
date
debit
credit
balance
beg. Bal
0
May-11
2800
2800
May-17
1200
4000
End. Bal
4000
Julia Dumars
trial balance sheet on May 31, 2015
account title
debit
credit
Cash
21200
Supplies
1500
account receivable
2800
account payable
900
unearned service revenue
3500
common stock
20000
service revenue
4000
salaries and wages expense
2000
rent expense
900
Total
28400
28400
Julia Dumars
Journal entries
date
account title & explanation
debit
credit
May-01
cash
20000
common stock
20000
(To record issued of common stock.)
May-02
No entry
May-03
Supplies
1500
account payable
1500
(To record purchase of supply.)
May-07
rent expense
900
cash
900
(To record Rent expense paid.)
May-11
account receivable
2800
service revenue
2800
(To record service performed.)
May-12
Cash
3500
unearned service revenue
3500
(To record advance received from client.)
May-17
Cash
1200
service revenue
1200
(To record service performed.)
May-31
salaries and wages expense
2000
Cash
2000
(To record salaries and wages expense paid.)
May-31
account payable (1500*40%)
600
Cash
600
(To record paid to account payable.)
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