a AAA CHAPTER 2 Requirements 1. Record the April transactions in the journal. Use the following accounts: Cash; Accounts Receivable; Office Supplies; Land; Furniture; Automobile; Accounts Payable; Unearned Revenue; Merry, Capital; Merry, Withdrawals; Service Revenue; Salaries Expense; and Rent Expense. Include an explanation for each entry. 2. Open the four-column ledger accounts listed in the trial balance, together with their balances as of March 31. Use the following account numbers: Cash, 11; Accounts Receivable, 12; Office Supplies, 13; Land, 14; Furniture, 15; Automobile, 16; Accounts Payable, 21; Unearned Revenue, 22; Merry, Capital, 31; Merry, Withdrawals, 33; Service Revenue, 41; Salaries Expense, 51; and Rent Expense, 52. 3. Post the journal entries to four-column accounts in the ledger, using dates, account numbers, journal references, and posting references. Assume the journal entries were recorded on page 5 of the journal. 4. Prepare the trial balance of Shawn Merry, CPA, at April 30, 2018. P2-33A Correcting errors in a trial balance The trial balance of Beautiful Tots Child Care does not balance. Learning Objective 4 Total Debits $123,250 BEAUTIFUL TOTS CHILD CARE Trial Balance August 31, 2018 Credit $ Balance Debit 7,900 6,700 1,000 300 91,500 $ Account Title Cash Accounts Receivable Office Supplies Prepaid Insurance Equipment Accounts Payable Notes Payable Trumball, Capital Trumball, Withdrawals Service Revenue Salaries Expense Rent Expense Total 3.400 45,000 57,000 5,000 12,350 4,400 750 $ 117,550 $ 117,750 BEAUTIFUL TOTS CHILD CARE Trial Balance August 31, 2018 Balance Credit Debit $ 7,900 6,700 1,000 300 91,500 $ Account Title Cash Accounts Receivable Office Supplies Prepaid Insurance Equipment Accounts Payable Notes Payable Trumball, Capital Trumball, Withdrawals Service Revenue Salaries Expense Rent Expense Total 3,400 45,000 57,000 5,000 12,350 4,400 750 $ 117,550 $ 117,750 The following errors are detected: a. Cash is understated by $1,500. b. A $4,100 debit to Accounts Receivable was posted as a credit. c. A $1,400 purchase of office supplies on account was neither journalized nor posted. d. Equipment was incorrectly transferred from the ledger as $91,500. It should have been transferred as $83,000. a AAA CHAPTER 2 Requirements 1. Record the April transactions in the journal. Use the following accounts: Cash; Accounts Receivable; Office Supplies; Land; Furniture; Automobile; Accounts Payable; Unearned Revenue; Merry, Capital; Merry, Withdrawals; Service Revenue; Salaries Expense; and Rent Expense. Include an explanation for each entry. 2. Open the four-column ledger accounts listed in the trial balance, together with their balances as of March 31. Use the following account numbers: Cash, 11; Accounts Receivable, 12; Office Supplies, 13; Land, 14; Furniture, 15; Automobile, 16; Accounts Payable, 21; Unearned Revenue, 22; Merry, Capital, 31; Merry, Withdrawals, 33; Service Revenue, 41; Salaries Expense, 51; and Rent Expense, 52. 3. Post the journal entries to four-column accounts in the ledger, using dates, account numbers, journal references, and posting references. Assume the journal entries were recorded on page 5 of the journal. 4. Prepare the trial balance of Shawn Merry, CPA, at April 30, 2018. P2-33A Correcting errors in a trial balance The trial balance of Beautiful Tots Child Care does not balance. Learning Objective 4 Total Debits $123,250 BEAUTIFUL TOTS CHILD CARE Trial Balance August 31, 2018 Credit $ Balance Debit 7,900 6,700 1,000 300 91,500 $ Account Title Cash Accounts Receivable Office Supplies Prepaid Insurance Equipment Accounts Payable Notes Payable Trumball, Capital Trumball, Withdrawals Service Revenue Salaries Expense Rent Expense Total 3.400 45,000 57,000 5,000 12,350 4,400 750 $ 117,550 $ 117,750 BEAUTIFUL TOTS CHILD CARE Trial Balance August 31, 2018 Balance Credit Debit $ 7,900 6,700 1,000 300 91,500 $ Account Title Cash Accounts Receivable Office Supplies Prepaid Insurance Equipment Accounts Payable Notes Payable Trumball, Capital Trumball, Withdrawals Service Revenue Salaries Expense Rent Expense Total 3,400 45,000 57,000 5,000 12,350 4,400 750 $ 117,550 $ 117,750 The following errors are detected: a. Cash is understated by $1,500. b. A $4,100 debit to Accounts Receivable was posted as a credit. c. A $1,400 purchase of office supplies on account was neither journalized nor posted. d. Equipment was incorrectly transferred from the ledger as $91,500. It should have been transferred as $83,000
