Monster inanes provides signt-seeing tours in vintage pipanes. The company is owned by Frank 108 The closing balances at the end of July 2016 and the chart of accounts is shown below. Monster Planes Balance Sheet As at July 31, 2016 Liabilities Assets Cash $9,000 Accounts Receivable $3,600 $20,800 Prepaid Insurance Equipment $33,400 $22,500 Total Assets $55.900 Account Description ASSETS Cash Accounts Receivable Prepaid Insurance Equipment LIABILITIES Accounts Payable Interest Payable Uneamed Revenue Back Loan OWNER'S EQUITY $8,200 Accounts Payable $6,300 Unearned Revenue $1,900 Bank Loan $39,500 Total Liabilities Owners' Equity Toll, Capital Total Liabilities & Owners $55,900 Equity Account Description REVENUE 101 Service Revenue 105 EXPENSES 110 Advertising Expense 120 Insurance Expense Interest Expense 200 Telephone Expense 205 210 215 Account Account 400 500 515 520 550 Contact us!: Monster Planes provides sight-seeing tours in vintage biplanes. The company is owned by Frank Toll. The closing balances at the end of July 2016 and the chart of accounts is shown below. Monster Planes Balance Sheet As at July 31, 2016 Liabilities Assets Cash $9,000 Accounts Receivable $3,600 $20,800 Prepaid Insurance Equipment $33,400 $22,500 Total Assets $55,000 Account Description ASSETS Cash Accounts Receivable Prepaid Insurance Equipment LIABILITIES Accounts Payable Interest Payable Unearned Revenue $8,200 Accounts Payable $6,300 Unearned Revenue $1,900 Bank Loan $39,500 Total Liabilities Owners' Equity Toll, Capital Total Liabilities & Owners' $55,900 Equity Account Description REVENUE 101 Service Revenue 105 EXPENSES 110 Advertising Expense 120 Insurance Expense Interest Expense 200 Telephone Expense 205 210 Account Account 400 500 515 520 550 Account # Account # Account Description Account Description ASSETS REVENUE Cash 101 Service Revenue Accounts Receivable 105 EXPENSES Prepaid Insurance 110 Advertising Expense Equipment 120 Insurance Expense LIABILITIES interest Expense Accounts Payable 200 Telephone Expense Interest Payable 205 Unearned Revenue 210 Bank Loan 215 OWNER'S EQUITY Toll, Capital 300 Toll, Drawings 310 During the month of August, Monster Planes had the following transactions. Do not enter dollar signs or commas in the input boxes. Date Account Title and Explanation PR Debit Credit 400 500 515 520 550 Account Title and Explanation Cash Toll, Capital Owner invested cash Unearned Revenue Received deposit for future services Date 2016 Aug 4 Aug 10 Cash Aug 13 Advertising Expense Accounts Payable Record advertising bill Aug 15 Telephone Expense Cash Paid telephone bill Aug 26 Accounts Receivable Service Revenue Provide service on account 101 300 101 210 500 200 550 101 105 400 PR Debit Credit $9,000 $9,000 $2,900 $2,900 $820 $120 $2,690 $820 $120 $2,690 Required a) Post the journal entries to the general ledger for August 2016. b) Fill in the PR column in the journal with the proper ledger numbers. If there is no entry to a particular account on a given date, please leave that row blank. Do not enter commas in the input boxes. Account: Cash GL No. 101 Date Description PR DR CR Balance 2016 Aug 1 Opening Balance x Aug 4 J1 8200 Aug 10 J1 0 Aug 13 J1 0 Aug 15 J1 0 Aug 26 J1 0 Account: Accounts Receivable Date Description PR 2016 Aug 1 Opening Balance Aug 4 Aug 10 J1 J1 DR x 22500 0 0 0 0 CR x 55900 0 0 0 0 Balance 55900 x GL No. 105 DR = DR = DR = DR = DR = DR = > DR = DR = DR = > > > PR Date Description 2016 Aug 1 Opening Balance Aug 4 J1 Aug 10 J1 Aug 13 J1 Aug 15 J1 Aug 26 J1 Account: Prepaid Insurance Date Description PR 2016 Aug 1 Opening Balance Aug 4 Aug 10 Aug 13 Aug 15 Aug 26 J1 J1 J1 J1 J1 DR DR CR CR Balance 55900 x 55900 DR = DR = DR = DR = DR = DR = GL No. 110 DR = DR = DR = DR = DR = DR = Balance x Account: Equipment Date Description PR 2016 Aug 1 Opening Balance Aug 4 J1 Aug 10 J1 Aug 13 J1 Aug 15 J1 Aug 26 J1 Account: Accounts Payable Date Description PR 2016 Aug 1 Opening Balance Aug 4 Aug 10 Aug 13 Aug 15 Aug 26 J1 J1 J1 J1 J1 DR DR CR CR 55900 GL No. 120 DR = DR = DR = DR = DR = DR = GL No. 200 Balance x Balance 55900 x > CR = DR = DR = CR # DR = Account: Unearned Revenue Date Description PR 2016 Aug 1 Opening Balance Aug 4 J1 Aug 10 J1 Aug 13 J1 Aug 15 J1 Aug 26 J1 Account: Bank Loan Date Description PR 2016 Aug 1 Opening Balance Aug 4 Aug 10 Aug 13 Aug 15 Aug 26 J1 31 J1 J1 11 DR DR CR CR 55900 55900 GL No. 210 CR = DR = CR = DR = DR = DR = GL No. 215 CR = DR = DR = DR = DR = Balance x Balance > Account: Toll, Capital Date Description 2016 Aug 1 Opening Balance Aug 4 J1 Aug 10 J1 Aug 13 J1 Aug 15 J1 Aug 26 J1 Account: Service Revenue Date Description PR 2016 Aug 4 J1 Aug 10 J1 Aug 13 J1 Aug 15 J1 Aug 26 J1 7 PR DR DR CR CR 55900 GL No. 300 CR = CR = DR = DR = DR = DR = Balance x GL No. 400 DR = DR = DR = DR = CR Balance >
