This is the trial balance of Mimosa Company on September 30. MIMOSA COMPANY Tria

Question

This is the trial balance of Mimosa Company on September 30.
MIMOSA COMPANY
Trial Balance
September 30, 2012
Debit Credit
Cash $ 8,200
Accounts Receivable 2,600
Supplies 2,100
Equipment 8,000
Accounts Payable $ 4,800
Unearned Service Revenue 1,100
Common Stock 15,000
$20,900 $20,900
The October transactions were as follows.
Oct. 5 Received $1,300 in cash from customers for accounts receivable due.
10 Billed customers for services performed $5,100.
15 Paid employee salaries $1,200.
17 Performed $600 of services for customers who paid in advance
in August.
20 Paid $1,900 to creditors for accounts payable due.
29 Paid a $300 cash dividend.
31 Paid utilities $400.
Instructions
(a) Prepare a general ledger using T accounts. Enter the opening balances in the ledger
accounts as of October 1. Provision should be made for these additional accounts:
Dividends, Service Revenue, Salaries and Wages Expense, and Utilities Expense.
(b) Journalize the transactions, including explanations.
(c) Post to the ledger accounts.
(d) Prepare a trial balance on October 31, 2012.
Journalize transactions, post,
and prepare a trial balance.
(SO 3, 5, 6, 7, 8), AP
(c) Cash $18,800
Tot. trial
balance $24,400
Journalize transactions, post,
and prepare a trial balance.
(SO 3, 5, 6, 7, 8), AP
(d) Cash $ 5,700
Tot. trial
balance $24,100
c03TheAccountingInformationSystem.qxd 8/3/10 1:33 PM Page

Explanation / Answer

Debit

credit

cash

5700

Account receivable

6400

suplies

2100

equipment

8000

Account payable

2900

Unearned Service revenue

500

Common stock

15,000

dividends

300

Service revenue

5700

Salaries and waged expense

1200

Utilies expense

400

$24,100

$24,100

Debit

credit

cash

5700

Account receivable

6400

suplies

2100

equipment

8000

Account payable

2900

Unearned Service revenue

500

Common stock

15,000

dividends

300

Service revenue

5700

Salaries and waged expense

1200

Utilies expense

400

$24,100

$24,100

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