Apr 1 2 5 Paid rent on office for month, 56,000. Purchased office supplies on account, $2,400 Paid insurance premiums, $5,000. 10 Received cash from clients on account, $52,700. 15 Purchased land for a future building site for $227,000 paying $27,000 in cash and giving a note payable for the remainder Paid creditors on account, $6,050 20 Returned a portion of the office supplies purchased on April 2, receiving full credit for their cost, $360 23 Paid advertising expense, S4,150. 17 Instructions Enter the following transactions on Page 19 of the two column journal: Apr 27 Discovered an error in computing a commission, received cash from the salesperson for the overpayment, $2,100 28 Paid automobile expense (including rental charges for an automobile), 51,200. 29 Paid miscellaneous expenses, $1,300. 30 Recorded revenue earned and billed to clients during the month, $55,000 30 Paid salaries and commissions for the month, $11,900, 30 Paid dividends, 54,000 30 Rented land purchased on April 15 to local merchants association for use as a parking lot in May and June, during a street rebuilding program, received advance payment of $10,200. Instructions Required: 1. Record the April 1, 2013, balance of each account in the appropriate balance column of a four-column accounttype Balance in the item section, and select a check mark in the Posting Reference column. 2. Journalize the transactions for Aprif in a two-column Journal beginning on Page 18. Refer to the Chart of Accounts for exact wording of account titles. Insert the appropriate posting references in both the journal and the ledger as each item is posted. 3. Post to the ledger extending the account balance to the appropriate balance column after each posting. Post in chronological order. For transactions occurring on the same day, post in the order presented in the instructions Insert the appropriate posting references in both the journal and the ledger as each item is posted 4. Prepare an unadiusted trial balance of the ledger as of April 30, 2013 5. Assume that the Apri 30 transaction for salaries and commissions should have been $19,100. (a) Why did the unadjusted trial balance in (4) balance? (b) Journalize the correcting entry on April 30. Use page 20. (Note: You will not be required to post this entry to the ledger at this time.) (c) Is this error a transposition or slide? Instructions UNADJUSTED TRIAL BALANCE March 31, 2043 ACCOUNT TITLE DEBIT CREDIT 1 Cash 26,300.00 2 Accounts Receivable 61.000.00 3,300.00 3. Prepaid Insurance 2.000.00 4 Office Supplies 5 Accounts Payable 13,600.00 10,000.00 6 Common Stock 37,800.00 7 Retained Earnings Instructions 8 Dividends 2,500.00 242.100.00 146,800.00 34,000.00 9 Fees Eamed 10 Salary and Commission Expense 11 Rent Expense 12 Advertising Expense 13 Automobile Expense 14 Miscellaneous Expense 17,500.00 "6,000.00 4,100.00 15 Totals 303,500.00 303,500.00 The following business transactions were completed by Elite Realty during April 20Y3. Enter the transactions through the 23rd on Page Journal Ledger Unadjusted Trial Balance Instructions 8 Dividends 2.500.00 9 Chart of Accounts 10 CHART OF ACCOUNTS 11 Elite Realty 12 General Ledger 13 14 ASSETS REVENUE 41 Fees Eamed 15 11 Cash 12 Accounts Receivable 13 Prepaid Insurance 14 Office Supplies Th EXPENSES 51 Salary and Commission Expense 52 Rent Expense 53 Advertising Expense 16 Land ERDE ET A. Instructions Dividends 2.500.00 9 Chart of Accounts 10 11 53 Advertising Expense 54 Automobile Expense 59 Miscellaneous Expense 12 LIABILITIES 21 Accounts Payable 22 Unearned Rent 23 Notes Payable 1 14 15 EQUITY 31 Common Stock 32 Retained Earnings 33 Dividends Th d on Pa DUATE DESCRIPTION POST. REF. DEELT CREDIT ASSETS UABILITIES EQUITY EQUITY Apr 1 paid office rent Apr. 2 Office Supplies Apr. 5 Apr. 10 Apr 15 Apr. 17 Apr. 20