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 and complete the worksheet using the follow- Accounting Cycle Completed Required Work for May ing adjustment data: a. One month's rent had expired. Paid 4 months' rent in advance on April 1, $3,600 b. An inventory shows $100 of office supplies remaining. c. Depreciation on office equipment, $170. d. Depreciation on automobile, $300. 3. Prepare a May income statement, statement of owner's equity, and balance shee 4. From the worksheet, journalize and post adjusting and closing entries (p. 6 of journal). 5. Prepare a post-closing trial balance. Prepare a post-closing trial balance. During May Sherman Realty completed the Purchased additional office supplies on account from The Office Store, 5900. transactions: May 1 INVOICE DATE: NUMBER: TERMS: May 1/1 1996035 Net 60 The Office Store 1 Fercroft Rd. Los Angeles, CA 90052 Phone (213) 631-0288 SOLD TO: Sherman Realty 8200 Sunset Blvd. Los Angeles, CA 90028 SHIPPED TO Sherman Realty 8200 Sunset Blvd. Los Angeles, CA 90028 DATE DESCRIPTION AMOUNT UNIT PRICE $900.00 May 1/1x Office supplies Subtotal 900.00 Total $900.00 Business Number: 115565559 PLEASE PAY THE ABOVE THANK YOU FOR YOUR BUSINESS RAPTERS The Accounting Cycle Completed May 2 Pald Pompa Herold advertising bill for April 5700 SHERMAN REALTY (213) 478-3584 8200 SUNSET BOULEVARD LOS ANGELES, CA 90028 0010 201X May 2 $ 700 DOLLARS OCER OF_Tampa Herald Seven Hundred and BAY BANK Box 1739 Terminal Annex Los Angeles, CA 90052 EVO Invoice #4879 12200066101400-385 70136 270010 Jacob Sherman May 3 Sold a house to Carol Turner and collected a commission of $5.900. SHERMAN REALTY COMMISSION REPORT Date: May 1, 2017 Name Carol Turner Commission Amount Sales No Date: Sales Description May 3/IX Home ot 80 ose Ave. A1004 35.900.00 Pald in full 2004 Remarks: DEPOSIT TICKET SREKMURALTY 21474-3584 BOBOULEVARD CUENCY CASH DON WEST GOSSING 5.90000 16-6000 2013 LOLLOW OTHERBOE TOTAL Ande May 3 DATE CASCOVEO NET DEPOSIT 5900100 her Box 1739 Ann Los Angina 1412200065 11400-057012 CHAPTERS The Accounting Cyde Complete 189 Mays Pald guilt arvey Mere Gano. SHERMAN REALTY R13, 473-3554 8200 SUNSET BOULEVARD LOS ANGELES, CA 9002 0011 201X May 6 42 DOLLAR TO THE ORENO Harvey Petroleum Gas Co. Forty-Two and BAYBANK Box 1730 Terminal Arne Los Angeles, CA 90052 MEMO Gas Bint-May 6 Jacob Sherman May Collected comision from Wet Land Developers for sale of building lot on April 17.57.500 DEPOSIT TICKET CON SHAMAN BERTY 1213) 478-35014 8200 SUNSET BOULEVARD Los Angeles, CA 90629 7500 TURN DATE May 8 201X TOTAL SONTEN INTERROGATOR D NET DEPOSIT 750000 BAY RANK Box 1739 Temnal inox Los Angeles, CA 90052 12200066101400-0385701362 May 12 Pald 5450 to Foster Realtone to send employees tu realtors' workshop 0012 SHERMAN REALTY (213) 470-3584 8200 SUNSET BOULEVARD LOS ANGELES, CA 90020 May 12 2018 $ 450 16 DOLLARS WTO E Foster Realtors ORDER OF Four Hundred Flity and its HAI B Box 1739 Terminal Los Angeles, CA DOO wo Workshop Rentration Jacob Sherman CHAPTER 5 The Accounting Cycle Completed Pald Tessa Hurdy, office secretary, 5550 0013 201x SHERMAN REALTY 213) 478-3564 8200 SUNSET BOULEVARD LOS ANGELES, CA 90028 May 15 55065 Y TO THE Tessa Handy ORDER OF DOLLARS Five Hundred Fifty and BAY BANK Box 1739 Terminal Annex Los Angeles, CA 90052 NO_Salary - May 1-15 Jacob Sherman May 17 Sold a house to Eric Harmon and eamed a commission of $3.700. Commission to be received on June 10. Date: May 19, 2013 SHERMAN REALTY COMMISSION REPORT Name: Eric Harmon Sales No Date: Sales Descriation May 171 MM GERS 3 Commision Amount 3.700.00 A1010 COOS Remark Payment due June 10, 2018 Sold a ballding lot to Argento Builders and collected a commission of $5,000. DEPOSIT TICKET CURVENCH CON LOGGENCY 200 TOULEVARD 5,000.00 16-6/9220 ZOTT May 18 201x TOTAL 6,00000 thew NET DEPOT 5.000 DO 2 Bean Terran ciz?00066161400-01851.352 CHAPTER 5 The Accounting de completed 191 SHERMAN REALTY COMMISSION REPORT N DOR May 2013 Date Sales Desert May Building tot songs Common Amen Sales No A1005 C.C.00 Padre C006 May 22 Senta check to Samaritan Charles for 50 to help sponsora local road tace to all the poor. (This amount is not to be considered an advertising expendit is a business egen and is posted to Miscellaneous Expense.) SHERMAN REALTY (213) 478-3584 0014 8200 SUNSET BOULEVARD 2017 LOS ANGELES, CA 90028 PAY TO THE Samaritan Charities 50% May 22 CADER OF DOLLARS Fifty and BAY BANK Box 1739 Terminal Annex Los Angeles, CA 90052 MEMO Ald to Poor 1312200056 : 1400-038570135 2004 Jacob Sherman May 24 Pald Jeep East 5690 for repairs to automobile due to accident. INVOICE Som Et Los Angeles, CA 00002 03 06-1011 Jeep INVOICE NO.2119 DATE: May 24/1 TERMS: Cash East To SHERMAN HEALTY 200 Sunset Blvd Los Angeles, CA 90020 AMOUNT UNT PRICE 560.00 QUANTITY Acid 690.00 SUSTOTAL FREIGHT TAX TOTAL DE 5690.00 PAYMENT RECOVED Cho HAPTER 5 The Accounting Cycle Completed 0015 201X SHERMAN REALTY (213) 478-8584 8200 SUNSET BOULEVARD LOS ANGELES, CA 90028 May 24 69065 DOUA PY TO THE ORDER OF Jeep East Six Hundred Ninety and BAY BANK Box 1730 Terminal Annex Los Angeles, CA 90052 NEMO Auto Repairs - Inv. 2119 Jacob Sherman May 28 Jacob Sherman withdrew $1,600 from the business to pay personal expenses SHERMAN REALTY (213) 478-3584 8200 SUNSET BOULEVARD LOS ANGELES, CA 90028 0016 201x May 28 1.600 DOLLARS CHOROF Jacob Sherman One Thousand Six Hundred and BAY BANK Box 1739 Terminal Annex Los Angeles, CA 90052 MEO Withdrawal Jacob Sherman Pald Tessa Hardy, office secretary, 5550. SHERMAN REALTY R153478-3584 1200 SUNSET BOULEVARD LOS ANGELES CA 90028 0017 201X May 30 Tessa Hardy OF $ 550 Five Hundred Fifty and DOLLARS |- 1938 am Are Los ACA 2002 AY May 16-31 Jacob Sherman CHAPTER 5 The Accounting Puld Vanage the 193 Vonage Pa Pace Los Angeles, CA 90 1213-0001 Your Statement Account with Ace 410930 Post May 1 to My SHERMAN REALTY 1200 Sun Los Angeles, CA 90028 Payment received May 30, 2018 Payment detentos De Payment Received Mey 2. Thank you Montand that -544000 Amount now due Payment de terre 10, 2018 1551.55 Total Du 5530.00 SHERMAN REALTY (213) 475-3584 8200 SUNSET BOULEVARD LOS ANGELES, CA 90028 0018 May 30 2017 PAY TO THE Vonage OF 530% Five Hundred Thirty and DOLLARS BAY BANK Box 1739 Terminal Anne Los Angeles, CA 90052 MEMO May Phone B Jacob Sherman May 30 Advertising bill from Tampa Herold for May, 31,700. The bill is to be paid on June 2. Tampa Herald 1 Long Tampa Florida, IL 60527 (35) 744-1000 INVOICE SOLD TO 3300 Sunset Invoice No: 5400 Date May 30, 201X Due Date: June 2. 2018 DATE DESCRIPTION AMOUNT 51.700.00 May 30/1X in Herald during May 2013 SUBTOTAL 1 700.00 TOTAL 31,700.00 Number4223 MAKE ALL CHECES PAYABLE TO TAMES HERALD 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 and complete the worksheet using the follow- Accounting Cycle Completed Required Work for May ing adjustment data: a. One month's rent had expired. Paid 4 months' rent in advance on April 1, $3,600 b. An inventory shows $100 of office supplies remaining. c. Depreciation on office equipment, $170. d. Depreciation on automobile, $300. 3. Prepare a May income statement, statement of owner's equity, and balance shee 4. From the worksheet, journalize and post adjusting and closing entries (p. 6 of journal). 5. Prepare a post-closing trial balance. Prepare a post-closing trial balance. During May Sherman Realty completed the Purchased additional office supplies on account from The Office Store, 5900. transactions: May 1 INVOICE DATE: NUMBER: TERMS: May 1/1 1996035 Net 60 The Office Store 1 Fercroft Rd. Los Angeles, CA 90052 Phone (213) 631-0288 SOLD TO: Sherman Realty 8200 Sunset Blvd. Los Angeles, CA 90028 SHIPPED TO Sherman Realty 8200 Sunset Blvd. Los Angeles, CA 90028 DATE DESCRIPTION AMOUNT UNIT PRICE $900.00 May 1/1x Office supplies Subtotal 900.00 Total $900.00 Business Number: 115565559 PLEASE PAY THE ABOVE THANK YOU FOR YOUR BUSINESS RAPTERS The Accounting Cycle Completed May 2 Pald Pompa Herold advertising bill for April 5700 SHERMAN REALTY (213) 478-3584 8200 SUNSET BOULEVARD LOS ANGELES, CA 90028 0010 201X May 2 $ 700 DOLLARS OCER OF_Tampa Herald Seven Hundred and BAY BANK Box 1739 Terminal Annex Los Angeles, CA 90052 EVO Invoice #4879 12200066101400-385 70136 270010 Jacob Sherman May 3 Sold a house to Carol Turner and collected a commission of $5.900. SHERMAN REALTY COMMISSION REPORT Date: May 1, 2017 Name Carol Turner Commission Amount Sales No Date: Sales Description May 3/IX Home ot 80 ose Ave. A1004 35.900.00 Pald in full 2004 Remarks: DEPOSIT TICKET SREKMURALTY 21474-3584 BOBOULEVARD CUENCY CASH DON WEST GOSSING 5.90000 16-6000 2013 LOLLOW OTHERBOE TOTAL Ande May 3 DATE CASCOVEO NET DEPOSIT 5900100 her Box 1739 Ann Los Angina 1412200065 11400-057012 CHAPTERS The Accounting Cyde Complete 189 Mays Pald guilt arvey Mere Gano. SHERMAN REALTY R13, 473-3554 8200 SUNSET BOULEVARD LOS ANGELES, CA 9002 0011 201X May 6 42 DOLLAR TO THE ORENO Harvey Petroleum Gas Co. Forty-Two and BAYBANK Box 1730 Terminal Arne Los Angeles, CA 90052 MEMO Gas Bint-May 6 Jacob Sherman May Collected comision from Wet Land Developers for sale of building lot on April 17.57.500 DEPOSIT TICKET CON SHAMAN BERTY 1213) 478-35014 8200 SUNSET BOULEVARD Los Angeles, CA 90629 7500 TURN DATE May 8 201X TOTAL SONTEN INTERROGATOR D NET DEPOSIT 750000 BAY RANK Box 1739 Temnal inox Los Angeles, CA 90052 12200066101400-0385701362 May 12 Pald 5450 to Foster Realtone to send employees tu realtors' workshop 0012 SHERMAN REALTY (213) 470-3584 8200 SUNSET BOULEVARD LOS ANGELES, CA 90020 May 12 2018 $ 450 16 DOLLARS WTO E Foster Realtors ORDER OF Four Hundred Flity and its HAI B Box 1739 Terminal Los Angeles, CA DOO wo Workshop Rentration Jacob Sherman CHAPTER 5 The Accounting Cycle Completed Pald Tessa Hurdy, office secretary, 5550 0013 201x SHERMAN REALTY 213) 478-3564 8200 SUNSET BOULEVARD LOS ANGELES, CA 90028 May 15 55065 Y TO THE Tessa Handy ORDER OF DOLLARS Five Hundred Fifty and BAY BANK Box 1739 Terminal Annex Los Angeles, CA 90052 NO_Salary - May 1-15 Jacob Sherman May 17 Sold a house to Eric Harmon and eamed a commission of $3.700. Commission to be received on June 10. Date: May 19, 2013 SHERMAN REALTY COMMISSION REPORT Name: Eric Harmon Sales No Date: Sales Descriation May 171 MM GERS 3 Commision Amount 3.700.00 A1010 COOS Remark Payment due June 10, 2018 Sold a ballding lot to Argento Builders and collected a commission of $5,000. DEPOSIT TICKET CURVENCH CON LOGGENCY 200 TOULEVARD 5,000.00 16-6/9220 ZOTT May 18 201x TOTAL 6,00000 thew NET DEPOT 5.000 DO 2 Bean Terran ciz?00066161400-01851.352 CHAPTER 5 The Accounting de completed 191 SHERMAN REALTY COMMISSION REPORT N DOR May 2013 Date Sales Desert May Building tot songs Common Amen Sales No A1005 C.C.00 Padre C006 May 22 Senta check to Samaritan Charles for 50 to help sponsora local road tace to all the poor. (This amount is not to be considered an advertising expendit is a business egen and is posted to Miscellaneous Expense.) SHERMAN REALTY (213) 478-3584 0014 8200 SUNSET BOULEVARD 2017 LOS ANGELES, CA 90028 PAY TO THE Samaritan Charities 50% May 22 CADER OF DOLLARS Fifty and BAY BANK Box 1739 Terminal Annex Los Angeles, CA 90052 MEMO Ald to Poor 1312200056 : 1400-038570135 2004 Jacob Sherman May 24 Pald Jeep East 5690 for repairs to automobile due to accident. INVOICE Som Et Los Angeles, CA 00002 03 06-1011 Jeep INVOICE NO.2119 DATE: May 24/1 TERMS: Cash East To SHERMAN HEALTY 200 Sunset Blvd Los Angeles, CA 90020 AMOUNT UNT PRICE 560.00 QUANTITY Acid 690.00 SUSTOTAL FREIGHT TAX TOTAL DE 5690.00 PAYMENT RECOVED Cho HAPTER 5 The Accounting Cycle Completed 0015 201X SHERMAN REALTY (213) 478-8584 8200 SUNSET BOULEVARD LOS ANGELES, CA 90028 May 24 69065 DOUA PY TO THE ORDER OF Jeep East Six Hundred Ninety and BAY BANK Box 1730 Terminal Annex Los Angeles, CA 90052 NEMO Auto Repairs - Inv. 2119 Jacob Sherman May 28 Jacob Sherman withdrew $1,600 from the business to pay personal expenses SHERMAN REALTY (213) 478-3584 8200 SUNSET BOULEVARD LOS ANGELES, CA 90028 0016 201x May 28 1.600 DOLLARS CHOROF Jacob Sherman One Thousand Six Hundred and BAY BANK Box 1739 Terminal Annex Los Angeles, CA 90052 MEO Withdrawal Jacob Sherman Pald Tessa Hardy, office secretary, 5550. SHERMAN REALTY R153478-3584 1200 SUNSET BOULEVARD LOS ANGELES CA 90028 0017 201X May 30 Tessa Hardy OF $ 550 Five Hundred Fifty and DOLLARS |- 1938 am Are Los ACA 2002 AY May 16-31 Jacob Sherman CHAPTER 5 The Accounting Puld Vanage the 193 Vonage Pa Pace Los Angeles, CA 90 1213-0001 Your Statement Account with Ace 410930 Post May 1 to My SHERMAN REALTY 1200 Sun Los Angeles, CA 90028 Payment received May 30, 2018 Payment detentos De Payment Received Mey 2. Thank you Montand that -544000 Amount now due Payment de terre 10, 2018 1551.55 Total Du 5530.00 SHERMAN REALTY (213) 475-3584 8200 SUNSET BOULEVARD LOS ANGELES, CA 90028 0018 May 30 2017 PAY TO THE Vonage OF 530% Five Hundred Thirty and DOLLARS BAY BANK Box 1739 Terminal Anne Los Angeles, CA 90052 MEMO May Phone B Jacob Sherman May 30 Advertising bill from Tampa Herold for May, 31,700. The bill is to be paid on June 2. Tampa Herald 1 Long Tampa Florida, IL 60527 (35) 744-1000 INVOICE SOLD TO 3300 Sunset Invoice No: 5400 Date May 30, 201X Due Date: June 2. 2018 DATE DESCRIPTION AMOUNT 51.700.00 May 30/1X in Herald during May 2013 SUBTOTAL 1 700.00 TOTAL 31,700.00 Number4223 MAKE ALL CHECES PAYABLE TO TAMES HERALD