The following occurred during June at Hicks Family Counseling. Post the followin
ID: 2528761 • Letter: T
Question
The following occurred during June at Hicks Family Counseling.
Post the following transactions into the appropriate T accounts.
Transactions:
Purchased office supplies for $1,400 in cash.
Delivered monthly statements, collected fee income of $29,000.
Paid the current month’s office rent of $3,400.
Completed professional counseling, billed client for $4,600.
Client paid fee of $2,600 for weekly counseling, previously billed.
Paid office salaries of $3,000.
Paid telephone bill of $420.
Billed client for $3,600 fee for preparing a counseling evaluation.
Purchased office supplies of $940 on account.
Paid office salaries of $3,000.
Collected $3,600 from client who was billed.
Clients paid a total of $9,700 cash in fees.
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Transactions
Analyze
Post the following transactions into the appropriate T accounts. (Select the Debit account first, then the Credit account. Deductions to account balances should be indicated by a minus sign.)
Explanation / Answer
June at Hicks Family Counseling. Office Supplies Cash 1) Dr Cr Dr Cr $ 1,400.00 $ 1,400.00 Cash Fee Income 2) Dr Cr Dr Cr $ 29,000.00 $ 29,000.00 3) Office Rent Cash Dr Cr Dr Cr $ 3,400.00 $ 3,400.00 4) Accounts Receivable Fee Income Dr Cr Dr Cr $ 4,600.00 $ 4,600.00 5) Cash Accounts Receivable Dr Cr Dr Cr $ 2,600.00 $ 2,600.00 6) Office Salaries Cash Dr Cr Dr Cr $ 3,000.00 $ 3,000.00 7) Telephone Expenses Cash Dr Cr Dr Cr $ 420.00 $ 420.00 8) Accounts Receivable Fee Income Dr Cr Dr Cr $ 3,600.00 $ 3,600.00 9) Office Supplies Accounts Payable Dr Cr Dr Cr $ 940.00 $ 940.00 10) Office Salaries Cash Dr Cr Dr Cr $ 3,000.00 $ 3,000.00 11) Cash Accounts Receivable Dr Cr Dr Cr $ 3,600.00 $ 3,600.00 12) Cash Fee Income Dr Cr Dr Cr $ 9,700.00 $ 9,700.00 Office Supplies Particular Amt(DR) Particualr Amount (Cr) To Cash $ 1,400.00 By Bal c/d $ 2,340.00 To Accounts Payable $ 940.00 Total $ 2,340.00 $ 2,340.00 Cash Particular Amt(DR) Particualr Amt (CR) To Fees Income $ 29,000.00 By Office Supplies $ 1,400.00 To Accounts Receivable $ 2,600.00 By Office Rent $ 3,400.00 To Accounts Receivable $ 3,600.00 By Office Salaries $ 3,000.00 To Fees Income $ 9,700.00 By Telephone Exp $ 420.00 By Office Salaries $ 3,000.00 By Bal c/d $ 33,680.00 Total $ 44,900.00 Total $ 44,900.00 Accounts Receivable Particular Amt(DR) Particualr Amt (CR) To Fees Income $ 4,600.00 By Cash $ 2,600.00 To Fees Income $ 3,600.00 By Cash $ 3,600.00 By Bal c/d $ 2,000.00 Total $ 8,200.00 Total $ 8,200.00 Office Rent Particular Amt(DR) Particualr Amt (CR) To Cash $ 3,400.00 By bal C/d $ 3,400.00 Total $ 3,400.00 Total $ 3,400.00 Office Salaries Particular Amt(DR) Particualr Amt (CR) To Cash $ 3,000.00 By bal C/d $ 6,000.00 To Cash $ 3,000.00 Total $ 6,000.00 Total $ 6,000.00 Telephone Expenses Particular Amt(DR) Particualr Amt (CR) To Cash $ 420.00 By bal C/d $ 420.00 Total $ 420.00 Total $ 420.00 Fee Income Particular Amt(DR) Particualr Amt (CR) To Balance C/d $ 46,900.00 By Cash $ 29,000.00 By Accounts Receivable $ 4,600.00 By Accounts Receivable $ 3,600.00 By Cash $ 9,700.00 Total $ 46,900.00 Total $ 46,900.00 Accounts Payable Particular Amt(DR) Particualr Amt (CR) To Bal c/d $ 940.00 By Office Supplies $ 940.00 Total $ 940.00 Total $ 940.00
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