Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Brief Exercise 3-11 b Sunland Ltd. had the following selected opening account balances at the end of April 30: Cash $1,630; Accounts Receivable $1,650; and

image text in transcribedimage text in transcribed

Brief Exercise 3-11 b Sunland Ltd. had the following selected opening account balances at the end of April 30: Cash $1,630; Accounts Receivable $1,650; and Accounts Payable $900 530 GENERAL JOURNAL Date Account Titles Debit Credit May 4 Accounts Receivable 3,370 Service Revenue 3,370 7 Dividends Declared 530 Cash 11 Cash 1,910 Accounts Receivable 1,910 21 Cash 1,930 Service Revenue 1,930 25 Salaries Expense 2,290 Cash 2,290 28 Accounts Payable 200 Cash 200 30 Income Tax Expense 770 Cash 770 (b) Using T accounts, enter the balances at April 30, post the May journal entries to the general ledger and determine the ending balances. (Post entries in the or Cash April 30 1630 May 7 530 May 11 1910 May 25 2290 May 21 1930 May 28 200 May 30 Accounts Receivable 1650 May 11 April 30 1910 May 4 3370 Accounts Payable

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing And Assurance Services Plus Pearson MyLab Accounting With Pearson EText

Authors: Alvin A. Arens, Randal J. Elder, Mark S. Beasley, Chris E. Hogan

17th Global Edition

1292312106, 978-1292312101

More Books

Students also viewed these Accounting questions

Question

The company has fair promotion/advancement policies.

Answered: 1 week ago