All Journals and General Ledger; Trial Balance The transactions completed by Rev
ID: 2539319 • Letter: A
Question
All Journals and General Ledger; Trial Balance
The transactions completed by Revere Courier Company during December, the first month of the fiscal year, were as follows:
Required:
1. The following accounts are setup in the general ledger as of December 1. Using the information below, enter the balances for each account.
2. Journalize the transactions for December, using the required journal(s). Assume that the daily postings to the individual accounts in the accounts payable subsidiary ledger and the accounts receivable subsidiary ledger have been made.
2a. Journalize the transactions for December, using the purchases journal (with columns for Accounts Payable, Maintenance Supplies, Office Supplies, and Other Accounts). Assume that the daily postings to the individual accounts in the accounts payable subsidiary ledger and the accounts receivable subsidiary ledger have been made.
If no entry is required, type "No entry required" and leave the amount boxes blank.
If an amount box does not require an entry, leave it blank.
2b. Journalize the transactions for December, using the cash receipts journal. Assume that the daily postings to the individual accounts in the accounts payable subsidiary ledger and the accounts receivable subsidiary ledger have been made.
If an amount box does not require an entry, leave it blank.
2c. Journalize the transactions for December, using the single-column revenue journal. Assume that the daily postings to the individual accounts in the accounts payable subsidiary ledger and the accounts receivable subsidiary ledger have been made.
2d. Journalize the transactions for December, using the cash payments journal. Assume that the daily postings to the individual accounts in the accounts payable subsidiary ledger and the accounts receivable subsidiary ledger have been made.
If an amount box does not require an entry, leave it blank.
2e. Journalize the transactions for December, using the two-column general journal. Assume that the daily postings to the individual accounts in the accounts payable subsidiary ledger and the accounts receivable subsidiary ledger have been made.
If an amount box does not require an entry, leave it blank.
3. Post the appropriate individual entries to the general ledger.
4. Total each of the columns of the special journals, and post the appropriate totals to the general ledger; insert the account balances.
If an amount box does not require an entry, leave it blank.
5. Prepare a trial balance.
If an amount box does not require an entry, leave it blank.
Dec. 1. Issued Check No. 610 for December rent, $4,200. Dec. 2. Issued Invoice No. 940 to Clifford Co., $1,740 Dec. 3. Received check for $4,800 from Ryan Co. in payment of account. Dec. 5. Purchased a vehicle on account from Platinum Motors, $37,300. Dec. 6. Purchased office equipment on account from Austin Computer Co., $4,500. Dec. 6. Issued Invoice No. 941 to Ernesto Co., $3,870. Dec. 9. Issued Check No. 611 for fuel expense, $600. Dec. 10. Received check from Sing Co. in payment of $4,040 invoice. Dec. 10. Issued Check No. 612 for $330 to Office To Go Inc. in payment of invoice. Dec. 10. Issued Invoice No. 942 to Joy Co., $1,970. Dec. 11. Issued Check No. 613 for $3,090 to Essential Supply Co. in payment of account. Dec. 11. Issued Check No. 614 for $500 to Porter Co. in payment of account. Dec. 12. Received check from Clifford Co. in payment of $1,740 invoice of December 2. Dec. 13. Issued Check No. 615 to Platinum Motors in payment of $37,300 balance of December 5. Dec. 16. Issued Check No. 616 for $39,800 for cash purchase of a vehicle. Dec. 16. Cash fees earned for December 1–16, $20,300. Dec. 17. Issued Check No. 617 for miscellaneous administrative expense, $500. Dec. 18. Purchased maintenance supplies on account from Essential Supply Co., $1,750. Dec. 19. Purchased the following on account from McClain Co.: maintenance supplies, $1,500; office supplies, $375. Dec. 20. Issued Check No. 618 in payment of advertising expense, $1,780. Dec. 20. Used $3,200 maintenance supplies to repair delivery vehicles. Dec. 23. Purchased office supplies on account from Office To Go Inc., $400. Dec. 24. Issued Invoice No. 943 to Sing Co., $6,100. Dec. 24. Issued Check No. 619 to S. Holmes as a personal withdrawal, $3,000. Dec. 25. Issued Invoice No. 944 to Ernesto Co., $5,530. Dec. 25. Received check for $4,100 from Ryan Co. in payment of balance. Dec. 26. Issued Check No. 620 to Austin Computer Co. in payment of $4,500 invoice of December 6. Dec. 30. Issued Check No. 621 for monthly salaries as follows: driver salaries, $16,900; office salaries, $7,100. Dec. 31. Cash fees earned for December 17–31, $18,900. Dec. 31. Issued Check No. 622 in payment for office supplies, $340.Explanation / Answer
General Ledger Revere Courier Company Cash A/c Balance Date Item Ref No. Debit Credit Debit Credit 1-Dec Balance $ 161,680.00 1-Dec Rent $ 4,200.00 $ 157,480.00 3-Dec Acounts Receivable $ 4,800.00 $ 162,280.00 9-Dec Fuel Expenses $ 600.00 $ 161,680.00 10-Dec Accounts Receivable $ 4,040.00 $ 165,720.00 10-Dec Accounts Payable $ 330.00 $ 165,390.00 11-Dec Accounts Payable $ 3,090.00 $ 162,300.00 11-Dec Accounts Payable $ 500.00 $ 161,800.00 12-Dec Accounts Receivable $ 1,740.00 $ 163,540.00 13-Dec Accounts Payable $ 37,300.00 $ 126,240.00 16-Dec Vehicle $ 39,800.00 $ 86,440.00 16-Dec Fees Earned $ 20,300.00 $ 106,740.00 17-Dec Misc Expenses $ 500.00 $ 106,240.00 20-Dec Advertisement $ 1,780.00 $ 104,460.00 24-Dec Drawings $ 3,000.00 $ 101,460.00 25-Dec Accounts Receivable $ 4,100.00 $ 105,560.00 26-Dec Accounts Payable $ 4,500.00 $ 101,060.00 30-Dec Salaries $ 24,000.00 $ 77,060.00 31-Dec Fees Earned $ 18,900.00 $ 95,960.00 31-Dec Office Supplies $ 340.00 $ 95,620.00 Total $ 53,880.00 $ 119,940.00 Accounts receivable Balance Date Item Ref No. Debit Credit Debit Credit 1-Dec Balance $ 12,940.00 2-Dec $ 1,740.00 $ 14,680.00 3-Dec $ 4,800.00 $ 9,880.00 6-Dec $ 3,871.00 $ 13,751.00 10-Dec $ 4,040.00 $ 9,711.00 10-Dec $ 1,970.00 $ 11,681.00 12-Dec $ 1,740.00 $ 9,941.00 24-Dec $ 6,100.00 $ 16,041.00 25-Dec $ 5,530.00 $ 21,571.00 25-Dec $ 4,100.00 $ 17,471.00 $ 19,211.00 $ 14,680.00 Maintenance Supplies Balance Date Item Ref No. Debit Credit Debit Credit 1-Dec Balance $ 10,850.00 18-Dec $ 1,750.00 $ 12,600.00 19-Dec $ 1,500.00 $ 14,100.00 20-Dec $ 3,200.00 $ 10,900.00 Office Supplies Balance Date Item Ref No. Debit Credit Debit Credit 1-Dec Balance $ 4,900.00 19-Dec $ 375.00 $ 5,275.00 23-Dec $ 400.00 $ 5,675.00 31-Dec $ 340.00 $ 6,015.00 Office Equipment Balance Date Item Ref No. Debit Credit Debit Credit 1-Dec Balance $ 28,500.00 6-Dec $ 4,500.00 $ 33,000.00 Vehicle Balance Date Item Ref No. Debit Credit Debit Credit 1-Dec Balance $ 95,900.00 5-Dec $ 37,300.00 $ 133,200.00 16-Dec $ 39,800.00 $ 173,000.00 Fuel expenses Balance Date Item Ref No. Debit Credit Debit Credit 1-Dec Balance 9-Dec $ 600.00 $ 600.00 Accounts Payable Balance Date Item Ref No. Debit Credit Debit Credit 1-Dec $ 3,920.00 5-Dec $ 37,300.00 $ 41,220.00 6-Dec $ 4,500.00 $ 45,720.00 10-Dec $ 330.00 $ 45,390.00 11-Dec $ 3,090.00 $ 42,300.00 11-Dec $ 500.00 $ 41,800.00 13-Dec $ 37,300.00 $ 4,500.00 18-Dec $ 1,750.00 $ 6,250.00 19-Dec $ 1,875.00 $ 8,125.00 23-Dec $ 400.00 $ 8,525.00 26-Dec $ 4,500.00 $ 4,025.00 Accumulated Depreciation-Office Equipment Balance Date Item Ref No. Debit Credit Debit Credit 31-Dec $ 6,900.00 Accumulated Depreciation-Vehicle Balance Date Item Ref No. Debit Credit Debit Credit 31-Dec $ 14,700.00 S.Holmes Capital Balance Date Item Ref No. Debit Credit Debit Credit 31-Dec $ 289,250.00 S.Holmes Drawings Balance Date Item Ref No. Debit Credit Debit Credit 24-Dec $ 3,000.00 $ 3,000.00 Fees Earned Balance Date Item Ref No. Debit Credit Debit Credit 16-Dec $ 20,300.00 $ 20,300.00 31-Dec $ 18,900.00 $ 39,200.00 31-Dec $ 19,211.00 $ 58,411.00 Driver salary Exenses Balance Date Item Ref No. Debit Credit Debit Credit 30-Dec $ 16,900.00 $ 16,900.00 Office Salaries Balance Date Item Ref No. Debit Credit Debit Credit 30-Dec $ 7,100.00 $ 7,100.00 Maintenance supplies Expenses Balance Date Item Ref No. Debit Credit Debit Credit 20-Dec $ 3,200.00 $ 3,200.00 Rent Expenses Balance Date Item Ref No. Debit Credit Debit Credit 1-Dec $ 4,200.00 $ 4,200.00 Advertisement Expenses Balance Date Item Ref No. Debit Credit Debit Credit 20-Dec $ 1,780.00 $ 1,780.00 Miscellaneous Administrative Expenses Balance Date Item Ref No. Debit Credit Debit Credit 17-Dec $ 500.00 $ 500.00 Revere Courier Company Purchase Journal Date Amount Credited Post Ref. Accounts Payable (Cr) Maintenance Supplies(Dr) Office supplies (Dr) Other Accounts (Dr) Post Ref. Amount 5-Dec Platinum Motors $ 37,300.00 $ 37,300.00 6-Dec Austin Computer Company $ 4,500.00 $ 4,500.00 18-Dec Essential Supply Co. $ 1,750.00 19-Dec Mc.Clain Co. $ 1,875.00 $ 1,500.00 $ 375.00 23-Dec GO.Inc $ 400.00 $ 400.00 31-Dec $ 44,075.00 $ 3,250.00 $ 775.00 $ 41,800.00 Revere Courier Company Unadjusted Trial Balance December 31st Debit Credit Cash $ 95,620.00 Accounts Receivable $ 17,471.00 Maintenane Supplies $ 10,900.00 Offie Supplies $ 6,015.00 Offie Equipment $ 33,000.00 Acumulated Depreciation-Office Equipment 6900 Vehicle $ 173,000.00 Accumulated Depreciation-Vehicle 14700 Accounts Payable 4025 S.Holmes, Capital 289250 S.Holmes, Drawings 3000 Fees Earned 58411 Driver Salaries Expenses 16900 Maintenance Supplies Expenses 3200 Office Salaries Expenses 7100 Fuel Expense 600 Rent Expense 4200 Advertisement Expense 1780 Miscellaneous Administrative Expense 500 Total $ 373,286.00 $ 373,286.00
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