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ID: 2422838 • Letter: 1
Question
1.
Debit
Credit
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Cash
Accounts Receivable
Supplies
Equipment
Accounts Payable
Unearned Service Revenue
Common Stock
Retained Earnings
2. Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)
Date
Account Titles and Explanation
Debit
Credit
3. Post to the ledger accounts. (Post entries in the order of information presented in the question.)
Cash
23,910
Accounts Receivable
7,310
Supplies
4,180
Equipment
10,080
Accounts Payable
9,510
Unearned Service Revenue
3,180
Common Stock
19,710
Dividends
Service Revenue
Salaries and Wages Expense
Utilities Expense
4. Prepare a trial balance on October 31, 2014.
SOLIS COMPANY
Trial Balance
October 31, 2014
Debit
Credit
This is the trial balance of Solis Company on September 30.SOLIS COMPANY
Trial Balance
September 30, 2014
Debit
Credit
Cash $ 23,910 Accounts Receivable 7,310 Supplies 4,180 Equipment 10,080 Accounts Payable $ 9,510 Unearned Service Revenue 3,180 Common Stock 19,710 Retained Earnings 13,080 $45,480 $45,480The October transactions were as follows.
Oct. 5 Received $1,350 in cash from customers for accounts receivable due. 10 Billed customers for services performed $5,550. 15 Paid employee salaries $1,300. 17 Performed $580 of services in exchange for cash. 20 Paid $1,900 to creditors for accounts payable due. 29 Paid a $300 cash dividend. 31 Paid utilities $490.
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Explanation / Answer
Answer to Question 1:
General Ledgers
Cash
Accounts receivable
Supplies
Equipment
Accounts payable
Unearned Service revenue
Common Stock
Retained earnings
Answer to Question 2
Journal Entries
(Being cash received form customers for
accounts receivable due)
Answer to Question 3
Posting to Ledger Accounts
Cash
Accounts receivable
Supplies
Equipment
Accounts payable
Unearned Service revenue
Common Stock
Retained earnings
Dividends
Service revenue
Salaries and wage expense
Utilities Expense
Answer to Question 4
Trial Balance of Solis Company as on October 31, 2014
Date and Particulars Amount($) Date and Particulars Amount($) 10/1/2014 Opening bal 23910Related Questions
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