. Post the transactions to the general ledger accounts in chronological order. U

Question

. Post the transactions to the general ledger accounts in chronological order. Use posting reference J1 for Jan. 1- Jan. 10 transactions and J2 for Jan. 11- Jan. 29 transactions. If an amount box does not require an entry, leave it blank.

2. Prepare a trial balance.

Diane Bernick has opened Bernick's Consulting. Set up general ledger accounts using the chart of accounts provided below.

1. Post the transactions to the general ledger accounts in chronological order. Use posting reference J1 for Jan. 1- Jan. 10 transactions and J2 for Jan. 11- Jan. 29 transactions. If an amount box does not require an entry, leave it blank.

Chart of Accounts Assets Revenues 101 Cash 401 Consulting Fees 142 Office Supplies 181 Office Equipment Expenses 511 Wages Expense Liabilities 521 Rent Expense 202 Accounts Payable 525 Phone Expense 533 Utilities Expense Owner’s Equity 549 Miscellaneous Expense 311 Diane Bernick, Capital 312 Diane Bernick, Drawing

Explanation / Answer

GENERAL LEDGER Cash Balance Date Item Post. Ref. Debit Credit Debit Credit Jan-01 J1 11519 11519 Jan-02 J1 752 10767 Jan-05 J1 990 11757 Jan-08 J1 90 11667 Jan-10 J1 38 11629 Jan-15 J2 235 11394 Jan-18 J2 546 10848 Jan-21 J2 756 11604 Jan-25 J2 90 11514 Jan-27 J2 391 11123 Jan-29 J2 546 10577 Office Supplies Balance Date Item Post. Ref. Debit Credit Debit Credit Jan-11 J2 293 293 Office Equipment Balance Date Item Post. Ref. Debit Credit Debit Credit Jan-03 J1 1234 1234 Accounts Payable Balance Date Item Post. Ref. Debit Credit Debit Credit Jan-03 J1 1234 1234 Jan-11 J2 293 1527 Jan-15 J2 235 1292 Diane Bernick, Capital Balance Date Item Post. Ref. Debit Credit Debit Credit Jan-01 J1 11519 11519 Diane Bernick, Drawing Balance Date Item Post. Ref. Debit Credit Debit Credit Jan-27 J2 391 391 Consulting Fees Balance Date Item Post. Ref. Debit Credit Debit Credit Jan-05 J1 990 990 Jan-21 J2 756 1746 Wages Expense Balance Date Item Post. Ref. Debit Credit Debit Credit Jan-18 J2 546 546 Jan-29 J2 546 1092 Rent Expense Balance Date Item Post. Ref. Debit Credit Debit Credit Jan-02 J1 752 752 Phone Expense Balance Date Item Post. Ref. Debit Credit Debit Credit Jan-08 J1 90 90 Utilities Expense Balance Date Item Post. Ref. Debit Credit Debit Credit Jan-25 J2 90 90 Miscellaneous Expense Balance Date Item Post. Ref. Debit Credit Debit Credit Jan-10 J1 38 38 Bernick's Consulting Trial Balance As at January 31 Account Name Debit Credit Cash 10577 Office Supplies 293 Office equipment 1234 Accounts payable 1292 Diane Bernick, Capital 11519 Diane Bernick, Drawing 391 Consulting Fees 1746 Wages expense 1092 Rent expense 752 Phone expense 90 Utilities expense 90 Miscellaneous expense 38 Total $ 14557 14557

Related Questions

Navigate

• Browse (All)
• Browse #
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.