Alicia Hiram is a licensed dentist. During the first month of the operation of h
ID: 2421709 • Letter: A
Question
Alicia Hiram is a licensed dentist. During the first month of the operation of her business, the following events and transcations occured.
April 1 Stock holders invested $40,000 cash in exchange for common stock.
April 1 Hired a secretary-receptionist at a salary of $600 per week payable monthly.
April 2 Paid office rent for the month of $1,700
April 3 Purchased dental supplies on account from Jennings Company $5,200
April 10 Performed dental services and billed insurance companies $6,600
April 11 Received $1,200 cash advance from Bob carow for an implant
April 20 Received $2,100 cash for dental services perfomed for Ryan Banks
April 30 Paid secretary-receptionist for the month $2,400
April 30 Paid $2,200 to Jennings company for accounts payable due
Alicia uses the following chart of accounts: No 101 cash No. 112 Accounts receivable No. 126 Supplies No. 201 Accounts payable No. 209 Unearned service revenue No. 311 Common stock,
No. 400 Services revenue, No. 726 Salaries and Wages expense and No. 729 Rent expense.
Instructions:
Using a table like below:
A. Journalize the transcations
B. Post to the ledger accoutns
C. Prepare a trial balance on April 30, 2015.
Date Accounts and explanations Post ref Debit CreditExplanation / Answer
Date Accounts Post Ref Dr Cr 1-Apr Cash 101 $40,000 Common stock 311 $40,000 2-Apr Rent Expense 729 1700 Cash 101 1700 3-Apr Supplies 126 5200 Accounts Payable 201 5200 10-Apr Acccounts Receivable 126 6600 Service Revenue 400 6600 11-Apr Cash 101 1200 Unearned Recenue 209 1200 20-Apr cash 101 2100 Service Revenue 400 2100 30-Apr Salaries & wages expenses 726 2400 cash 101 2400 30-Apr Accounts Payable 201 2200 Cash 101 2200 Trial Balance as on 30 April,2015 Particulars Post Ref Dr Cr Cash 101 $37,000 Acccounts Receivable 126 6600 Supplies 126 5200 Accounts Payable 201 3000 Unearned Revenue 209 1200 Common stock 311 $40,000 Service Revenue 400 8700 Rent Expense 729 1700 Salaries & wages expenses 726 2400 Total $52,900 $52,900 Cash=40000-1700+1200+2100-2400-2200=$37000
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