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Accounting

Journalize the Transactions and Posting them into ledger and Preparation of Trial Balance.

Judi Dench is a licensed architect. During the first month of the operation of her company, Judi Dench, Inc. the following events and transactions occurred.

Apr 1	Stockholders invested cash in the business in exchange for common stock.	$25,000
Apr 1	Hired a secretary-receptionist at a salary of	$300 per week payable monthly.
Apr 2	Paid office rent for the month	$800
Apr 3	Purchased architectural supplies on account from Halo Company	$1,500
Apr10	Completed blueprints on a carport and billed the client for services	$900
Apr11	Received cash advance from R. Welk for the design of a new home.	$500
Apr20	Received cash for services completed and delivered to P. Donahue.	$1,500
Apr30	Paid secretary-receptionist for the month	$1,500
Apr30	Paid Halo Company for accounts payable due	$600

Judi uses the following chart of accounts:

101	Cash
311	Common Stock
112	Accounts Receivable
400	Service Revenue
126	Supplies
726	Salary Expense
201	Accounts Payable
729	Rent Expense
205	Unearned Revenue

Instructions:

(a) Journalize the transactions.

Date	Accounts / Text/Memorandum	Ref	Debit	Credit
Date	Account	Ref	Amount
	Account	Ref		Amount
	Text / Memorandum
Date	Accounts / Text/Memorandum	Ref	Debit	Credit
Date	Account	Ref	Amount
	Account	Ref		Amount
	Text / Memorandum
Date	Account	Ref	Amount
	Account	Ref		Amount
	Text / Memorandum
Date	Account	Ref	Amount
	Account	Ref		Amount
	Text / Memorandum
Date	Account	Ref	Amount
	Account	Ref		Amount
	Text / Memorandum
Date	Account	Ref	Amount
	Account	Ref		Amount
	Text / Memorandum
Date	Account	Ref	Amount
	Account	Ref		Amount
	Text / Memorandum
Date	Account	Ref	Amount
	Account	Ref		Amount
	Text / Memorandum
Date	Account	Ref	Amount
	Account	Ref		Amount
	Text / Memorandum
Date	Account	Ref	Amount
	Account	Ref		Amount
	Text / Memorandum

(b) Post to the ledger accounts. (Use J1 as the journal page number.)

Account:	Cash				Acct Nbr:	101
Date:	Explanation		Ref	Debit	Credit	Balance



Account:	Accounts Receivable				Acct Nbr:	112
Date:	Explanation		Ref	Debit	Credit	Balance


Account:	Supplies				Acct Nbr:	126
Date:	Explanation		Ref	Debit	Credit	Balance


Account:	Accounts Payable				Acct Nbr:	201
Date:	Explanation		Ref	Debit	Credit	Balance


Account:	Unearned Revenue				Acct Nbr:	205
Date:	Explanation		Ref	Debit	Credit	Balance


Account:	Common Stock				Acct Nbr:	311
Date:	Explanation		Ref	Debit	Credit	Balance


Account:	Service Revenue				Acct Nbr:	400
Date:	Explanation		Ref	Debit	Credit	Balance


Account:	Salary Expense				Acct Nbr:	726
Date:	Explanation		Ref	Debit	Credit	Balance


Account:	Rent Expense	Acct Nbr:	729
Date:	Explanation		Ref	Debit	Credit	Balance

JUDI DENCH, INC Trial Balance April 30, 2006
	Debit	Credit
Account
Account
Account
Account
Account
Account
Account
Account
Account
	Formula	Formula

View complete question

Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9162856

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