Oct.1: Purchased additional office supplies on account from Paper Co., $850. Oct

Question

Oct.1: Purchased additional office supplies on account from Paper Co., $850.
Oct.2: Paid Chicago times advertising bill for September, $900.
Oct. 3: Sold a house to Helen Baker and collected a commission of $7,300.
Oct. 6: Paid gas bill to Haffner Gas Co., $29.
Oct. 8: Collected commission from Tropic Developers for sale of building lot on September 17, $10,000.
Oct. 12: Paid $530 to Long Realtors Assoc. to send employees to realtors' workshop.
Oct. 15: Paid Rosie Petrillo, office secretary, $300.
Oct. 17: Sold a house to Gary Schneider and earned a commission of $2,900. Commission to be received on November 10.
Oct. 18: Sold a building lot to Lombardi Builders and collected a commission of $4,500.
Oct. 22: Sent a check to Heritage Charities for $65 to help sponsor a local road race to aid the poor.
Oct. 24: Paid Hyundai North $620 for repairs to automobile due to accident.
Oct. 28: James Sousa withdrew $2,200 from the business to pay personal expenses.
Oct. 30: Paid Rosie Petrillo, office secretary, $300. Oct. 30: Paid Comcast telephone bill, $480.
Oct. 30: Advertising bill from Chicago Times for October, $1,300. The bill is to be paid on November 2.

1. Journalize transactions in a general journal (p.4) and post to ledger accounts.
2. Prepare a trial balance in the first two columns of a blank, fold-out worksheet located at the end of your textbook at the end of your textbook and complete the worksheet using the following data: a) One month's rent had expired. Paid 5 months' rent in advance on September 1, $1,000. b) An inventory shows $130 of office supplies remaining. c) Depreciation on office equipment, $160. d) Depreciation on automobile, $210.
3. Prepare an October income statement, statement of owner's equity, and balance sheet.
4. From the worksheet, journalize and post adjusting and closing entries (p. 6 of journal).
5. Prepare a post-closing trial balance.

Please HELP!

Cash Ledger Ending Balance for October: 38,921
Debit . Credit
Worksheet: Trial Balance 73,395 73,395
Adjustments 1,390 1.390
Adj. Trial Balance 73,765 73,765
Income statement 5,014 14,700
Net Income . 9,686
Matching Totals . 14,700 14,700
Balance Sheet 68,751 . 59,065
Net Income . 9,686
Matching Totals 68,751 68,751

Statement of Owner's Equity
James Sousa, Capital Oct. 31 44,411

Balance Sheet 65,811

Post Closing Trial Balance Totals: 66,551

Explanation / Answer

1) Date Account Titles and Explanation Debit Credit Oct.1 Office Supplies $850.00 Accounts Payable $850.00 Purchased additional offices supplies on account Oct.2 Accounts Payable (Advertising Expense) $900.00 Cash $900.00 Advertising bill for Sept. to be paid Oct 2 Oct.3 Cash $7,300.00 Commissions Earned $7,300.00 Collected commissions on house sold to Helen Baker Oct.6 Gas Expenses $29.00 Cash $29.00 Paid gas bill to Haffner Gas Co Oct.8 Cash $10,000.00 Accounts Receivables (Commissions Earned) $10,000.00 Oct.12 Workshop Expense $530.00 Cash $530.00 Oct.15 Salaries Expense $300.00 Cash $300.00 Paid office secretary salary, Rosie Pertillo Oct.17 Accounts Receivables 2900 Commissions Earned 2900 Sold a house to Gary Schneider payment received on November 10. Oct.18 Cash $4,500.00 Commissions Earned $4,500.00 Collected commissions on building lot to Lombardi Builders Oct.22 Charity Expense $65.00 Cash $65.00 Oct.24 Repairs Expense $620.00 Cash $620.00 Paid Hyundai North for automobile repairs Oct.28 James Sousa, Withdrawals $2,200.00 Cash $2,200.00 James Sousa withdrew money for personal expense Oct.30 Salaries Expense $300.00 Cash $300.00 Paid office secretary salary, Rosie Pertillo Oct.30 Telephone Expense $480.00 Cash $480.00 Paid Comcast Telephone bill Oct.30 Advertising Expense $1,300.00 Accounts Payable $1,300.00 Advertising bill for Oct to be paid Nov 2 $32,274.00 $32,274.00

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