Book Spreadsheet Valley Realty Unadjusted Trial Balance July 31, 2018 Credit Account No. Debit Balances Balances Cash 11 11,320 Accounts Receivable 12 26,360 1,290 13 Prepaid Insurance Office Supplies Land 14 770 16 21 7,460 22 23 31 10,000 15,700 32 33 900 Accounts Payable Unearned Rent Notes Payable Common Stock Retained Earnings Dividends Fees Eamed Salary and commission Expense Rent Expense Advertising Expense Automobile Expense Miscellaneous Expense 128,600 51 52 53 54 96,690 12,860 7,590 2,310 59 1,670 161,760 161,760 Check My Work Next > The following business transactions were completed by Valley Realty during August 2018: Aug. 1. Purchased office supplies on account, $1,110. 2. Paid rent on office for month, $4,270. 3. Received cash from clients on account, $21,350. 5. Paid Insurance premiums, $3,070. 9. Returned a portion of the office supplies purchased on August 1, receiving full credit for their cost, $170. 17. Pald advertising expense, $1,710. 23. Pald creditors on account, $3,840. 29. Paid miscellaneous expense, $380. 30. Paid automobile expense (Including rental charges for an automobile), $1,280. Discovered an error in computing a commission during July; received cash from the salesperson for the 31. overpayment, $850. 31. Paid salaries and commissions for the month, $6,430. 31. Recorded revenue earned and billed to clients during the month, $25,620. Purchased land for a future building site for $76,900, paying $8,500 in cash and giving a note payable 31. for the remainder 31. Paid dividends, $850. Rented land purchased on August 31 to a local university for use as a parking lot during football season 31. (September, October, and November); received advance payment of $2,560. Dashboard eBook HE Spreadsheet will not be included in your grade in CengageNOW on this problem 1. Record the August 1, 2048 balance of each account in the appropriate balance column of the four column account. The word Balance has been entered in the item section and a check mark (1) has been placed in the Posting Reference column. 2. Journal and insert the Posting References for the transactions for August in a two-column Journal beginning on Page 18. For a compound transaction, if an amount box does not require an entry, leave it blank General Journal Description Page 18 Credit Debit Post. Ref. Date 20YB Aug. 1 Aug. 2 |Aug. 3 Aug. Aug. 9 Aug. 17 Aug. 23 Next Page 19 General Journal Debit Credit Post. Ref. Date Description 20Y8 Aug. 29 Aug. 30 Aug. 31-Error Aug. 31-Salary Aug. 31-Revenue Aug. 31-Land Aug. 31-Dividends Aug. 31-Rent Required: 3. Post to the ledger, extending the account balance to the appropriate balance column after each posting. 4. Using the balances from the spreadsheet, prepare an unadjusted trial balance of the ledger as of August 31, 20Y8. List all accounts in the order of Assets, Liabilities, Stockholders' equity, Revenues, and Expenses. If an amount box does not require an entry, leave it blank Valley Realty Unadjusted Trial Balance August 31, 2048 Account Debit Balances No. Credit Balances Next Check My Work Email instructor Save and Exit Submit Assignment for Gra Accounting numerie field 5a. Assume that the August 31 transaction for dividends should have been $4,630. As a result, the unadjusted trial balance in (4) would 5b. Assume that the August 31 transaction for dividends should have been $4,630. Journalize the correcting entry. If an amount box does not require an entry, leave it blank General Journal Post. Ref. Page 19 Credit Debit Date Description 20Y8 Aug 31 5c. Assume that the August 31 transaction for dividends should have been $4,630. Is this error a transposition or slide