10A-4 28 Paid rent expense to Viscount\'s Realty Trust, check 29 Paid utilities

Question

10A-4

28 Paid rent expense to Viscount's Realty Trust, check 29 Paid utilities expense to Granite Utility Co., check no. 22200, no 30 Paid half the amount owed Squash Co., no di 2a 10A-4. Abby Gray opened Abby's Toy House. As her newly hired ae Yr tasks are to do the following: . Use the perioh 1. Journalize the transactions for the month of December, t 2. Record to subsidiary ledgers and post to the general ledger 3. Prepare a schedule of accounts receivable and a schedule of a The following is the partial chart of accounts for Abby's Toy H method appropriate. payable as Abby's Toy House Chart of Accounts Assets 110 Cash 112 Accounts Receivable 114 Prepaid Rent 121 Delivery Truck Liabilities 210 Accounts Payable Owners Equity 310 A. Gray, Capital Revenue 410 Toy Sales 412 Sales Returns and Allowances 414 Sales Discounts Cost of Goods 510 Toy Purchases 512 Purchases Returns and Allowan 514 Purchases Discount Expenses 610 Salaries Expense 612 Cleaning Expense

Explanation / Answer

ABBY'S TOY HOUSE General journal Date Account Title Debit Credit Dec.1 Cash 7000 A.Grey, capital 7000 (To record investment made by A.Grey) Dec.1 Prepaid rent 3100 Cash 3100 (To record payment of rent for three months) Dec.1 Toy Purchases 4400 Accounts payable 4400 (To record purchase of merchandise on account) Dec.3 Accounts receivable 500 Toy sales 500 (To recors sales to David Plouffe) Dec.6 Accounts receivable 400 Toy sales 400 (To recors sales to Robert Cooper) Dec.8 Toy Purchases 1300 Accounts payable 1300 (To record purchase of merchandise on account) Dec.9 Accounts receivable 1100 Toy sales 1100 (To recors sales to David Plouffe) Dec.9 Cleaning expenses 275 Cash 275 (To record payment of cleaning services ch#2) Dec.10 Sales returns 100 Accounts receivable 100 (To record return of merchandise from Robert Cooper) Dec.10 Toy Purchases 4400 Accounts payable 4400 (To record purchase of merchandise on account) Dec.12 Accounts payable 4400 Cash 4180 Purchse discounts 220 (To record payment made to Moris Curtis) Dec.13 Cash 1800 Toy sales 1800 (To record cash sales) Dec.13 Salaries expense 1100 Cash 1100 (To record payment of salaries) Dec.14 Accounts payable 800 Toy Purchases 800 (To record return of toys to Midred Mann) Dec.15 Cash 3900 Toy sales 3900 (To record cash sales) Dec.16 Cash 285 Sales discount 15 Accounts receivable 300 (To record payment received from Robert Cooper) Dec.16 Cash 500 Accounts receivable 500 (To record payment received from David Ploufe) Dec.16 Accounts receivable 4700 Toy sales 4700 (To record sales to Alison Reach) Dec.20 Delivery truck 2500 Accounts payable 2500 (To record purchase of delivery truck ) Dec.22 Accounts receivable 1200 Toy sales 1200 (To record sales to David Ploufe) Dec.23 Accounts payable 3600 Cash 3600 (To record payment to Mdred Mann) Dec.24 Accounts receivable 600 Toy sales 600 (To record sales to Alison Reach) Dec.25 Toy Purchases 1100 Cash 1100 (To record toy purchase for cash) Dec.26 Toy Purchases 4300 Accounts payable 4300 (To record toy purchases on account)) Dec.28 Cash 1140 Sales discount 60 Accounts receivable 1200 (To record payment received from David Ploufe) Dec.28 Cash 570 Sales discount 30 Accounts receivable 600 (To record payment received from Alison Reach) Dec.28 Cash 4000 A.Grey, capital 4000 (To record additional investment made by A.Grey) Dec.30 Accounts payable 1300 Cash 1300 (To record payment made to Moris Curtis) Dec.30 Accounts receivable 3600 Toy sales 3600 (To record sales to Bellfa Falco Co.) Cash A.Grey , capital Accounts receivable Date Debit Credit Balance Date Debit Credit Balance Date Debit Credit Balance Dec.1 7000 7000 Dec.1 7000 7000 Dec.31 9400 9400 Dec.1 3100 3900 Dec.28 4000 11000 9400 Dec.9 275 3625 11000 9400 Dec.12 4180 -555 11000 Dec.13 1800 1245 Dec.13 1100 145 Prepaid rent Delivery truck Dec.15 3900 4045 Date Debit Credit Balance Date Debit Credit Balance Dec.16 285 4330 Dec.1 3100 3100 Dec.20 2500 2500 Dec.16 500 4830 3100 2500 Dec.23 3600 1230 3100 2500 Dec.25 1100 130 Dec.28 1140 1270 Dec.28 570 1840 Dec.28 4000 5840 Dec.30 1300 4540 Sales returns and allowances Sales discounts Accounts payable Date Debit Credit Balance Date Debit Credit Balance Date Debit Credit Balance Dec.10 100 100 Dec.16 15 15 Dec.31 6800 6800 100 Dec.28 60 75 6800 Dec.28 30 105 Toy sales Date Debit Credit Balance Dec.3 500 500 Purchase returns Purchase discounts Dec.6 400 900 Date Debit Credit Balance Date Debit Credit Balance Dec.9 1100 2000 Dec.14 800 800 Dec.12 220 220 Dec.13 1800 3800 800 220 Dec.15 3900 7700 800 Dec.16 4700 12400 Salaries expense Dec.22 1200 13600 Date Debit Credit Balance Dec.24 600 14200 Dec.13 1100 1100 Cleaning expense 1100 Toy purchases Date Debit Credit Balance Date Debit Credit Balance Dec.9 275 275 Dec.1 4400 4400 275 Dec.8 1300 5700 275 Dec.10 4400 10100 Dec.25 1100 11200 Dec.26 4300 15500 15500 Accounts receivable David Plouffe Date Inv.Vo. Debit Credit Balance Accounts payable Dec.3 1 500 500 Morris curtis company Dec.9 3 1100 1600 Date Inv.Vo. Debit Credit Balance Dec.16 500 1100 Dec.1 410 4400 4400 Dec.22 5 1200 2300 Dec.8 415 1300 5700 Dec.26 1200 1100 Dec.12 4400 1300 1100 Dec.30 1300 0 Midred Mann Robert Cooper Date Inv.Vo. Debit Credit Balance Date Inv.Vo. Debit Credit Balance Dec.10 4400 4400 Dec.6 2 400 400 Dec.14 800 3600 Dec.10 100 300 Dec.23 3600 0 Dec.16 300 0 0 0 Sam Kartz Garrage Date Inv.Vo. Debit Credit Balance Alison Reach Dec.20 2500 2500 Date Inv.Vo. Debit Credit Balance 2500 Dec.16 4 4700 4700 2500 Dec.24 6 600 5300 2500 Dec.28 600 4700 4700 Sanya Burger Bella Falco Company Date Inv.Vo. Debit Credit Balance Date Inv.Vo. Debit Credit Balance Dec.26 4300 4300 Dec.30 7 3600 3600 4300 3600 4300 Schedlue of Accounts Receivable Customer Balance David Ploufe 1100 Alison Reach 4700 Bella Falco 3600 T o t a l 9400 Schedlue of Accounts Payable Customer Balance Sam Kartz Garrae 2500 Sanya Burger 4300 T o t a l 6800

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