1.The following were the transactions of Entity A during the period:

Requirements:

a. Provide the journal entries.

b. Post the journal entries to the ledger then determine the ending balances of the accounts. Use T-accounts for this purpose. Arrange your T-accounts in this order: Assets, Liabilities, Equity, Income and Expenses.

Date Transactions

Jan. 8 Services worth 150,000 were rendered for cash.

Jan. 9 Services worth 200,000 were rendered on account.

Jan. 10 Cash amounting to 25,000 was disbursed for advertising expense.

Jan. 11 Accounts receivable of 180,000 was collected.

Jan. 12 The owner made a temporary withdrawal of 10,000 cash from the business.

2.The ledger accounts of Entity A have the following balances on December 31, 20x1:

Requirement: Prepare the unadjusted trial balance. Be sure to provide a proper heading for the report and arrange the accounts in the correct sequence.

Account titles Balances

Accounts payable 480,000

Accounts receivable 210,000

Accumulated depreciation - Bldg. 1,250,000

Accumulated depreciation - Equipt. 1,800,000

Advertising expense 70,000

Allowance for bad debts 30,000

Bad debt expense 20,000

Building 5,000,000

Cash 770,000

Depreciation expense 200,000

Equipment 3,600,000

Land 2,000,000

Miscellaneous expense 4,000

Notes receivable 420,000

Owner's drawings 80,000

Owner's equity 4,200,000

Prepaid supplies 40,000

Salaries expense 1,140,000

Salaries payable 120,000

Service fees 6,000,000

Supplies expense 60,000

Taxes and licenses 120,000

Transportation and travel expense 140,000

Utilities expense 46,000

Utilities payable 40,000

3.Mr. A opened a management consulting firm called "Alpha Consulting" on October 1, 20x1. The following were the transactions during the first week of operations:

Requirements:

a. Provide the journal entries.

b. Post the entries to the ledger (use T-accounts).

c. Prepare the unadjusted trial balance on October 7, 20x1.

Oct. Transactions

1 Provided 300,000 cash as initial investment to the business.

2 Acquired furniture and fixture for 200,000 cash.

4 Purchased supplies for 30,000 cash.

5 Rendered services worth 20,000 on cash basis.

7 Paid 10,000 salaries of employees.