Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

chp. 3 hw #12 please help T-Accounts Trial Balance Sue Jantz started a business in August 20-. called Jantz Plumbing Service. Jantz hired a part-time

chp. 3 hw #12
please help
image text in transcribed
image text in transcribed
T-Accounts
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Trial Balance
image text in transcribed
Sue Jantz started a business in August 20-. called Jantz Plumbing Service. Jantz hired a part-time college student as an administrative assistant. The following transactions occurred during August: (a) Invested cash in the business, $30,000. (b) Purchased a used van for cash, $8,000. (c) Purchased plumbing equipment on account, $4,000. (d) Received cash for services rendered, $3,000. (e) Paid cash on account owed from transaction (c), $1,000. (t) Paid rent for the month, $700. (g) Paid phone bill, $100. (h) Earned revenue on account, $4,000. (i) Purchased office supplies for cash, $300. (i) Paid wages to student, $500. (k) Purchased a one-year insurance policy, $800. (i) Peceived cash from services performed in transaction (h), $3,000. (m) Paid cash for advertising expense, \$2,000. (n) Purchased additional plumbing equipment for $2,000, paying $500 cash and spreading the remaining payments over the next six months. (0) Earned revenue from services for the remainder of the month of $2,800:$1,100 in cash and $1,700 on account. (p) Withdrew cash at the end of the month, $3,000. (d) Received cash for services rendered, $3,000. (e) Paid cash on account owed from transaction (c), $1,000. (f) Paid rent for the month, $700. (g) Paid phone bili, $100. (h) Earned revenue on account, $4,000. (i) Purchased office supplies for cash, $300. (i) Paid wages to student, $500. (k) Purchased a one-year insurance policy, $800. (i) Received cash from services performed in transaction (h), $3,000. (m) Paid cash for advertising expense, \$2,000. (n) Purchased additional plumbing equipment for $2,0 po, paying $500 cash and spreading the remaining payments over the next six months. (0) Eamed revenue from services for the remainder of the month of $2,800:$1,100 in cash and $1,700 on account. (p) Withdrew cash at the end of the month, $3,000. Required: 1. Enter the transactions in T accounts, identifying each transaction with its corresponding letter. 2. Foot and balance the accounts where necessary. 3. Propare a trial balance as of August 31, 20-. 1. Enter the transactions in T accounts, identifying each transaction with its corresponding letter. 2. Foot and balance the accounts where necessary. T Accounts and Trial Balance nstructions T-Accounts Dr. T Accounts and Trial Balance Instructions T-Accounts Trial Balance Instructions T-Accounts Accounts Receivable Bal. Office Supplies Prepaid Insurance Plumbing Equipment Bal. T Accounts and Trial Balance \begin{tabular}{|l|l|l} Instructions & T-Accounts \\ \hline \end{tabular} Instructions T-Accounts Accounts Payable Bal. Owner's Equity Dr. - Cr. + Sue Jantz, Capital T Accounts and Trial Balance Instructions T T-Accounts Trial Balance Instructions T-Accounts Rent Expense Wages Expense Phone Expense T Accounts and Trial Balance \begin{tabular}{|l|l|l} Instructions & T-Accounts Trial Balance \\ \hline \end{tabular} Instructions T-Accounts Service Fees Bal. \begin{tabular}{|l|l|l|} \hline Instructions & T-Accounts \\ \hline \end{tabular} Trial Balance

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

Step: 3

blur-text-image

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

CISA Certified Information Systems Auditor Study Guide

Authors: David L. Cannon, Timothy S. Bergmann, Brady Pamplin

1st Edition

0782144381, 978-0782144383

More Books

Students also viewed these Accounting questions

Question

What document initiates the billing process?

Answered: 1 week ago

Question

Identify the types of informal reports.

Answered: 1 week ago

Question

Write messages that are used for the various stages of collection.

Answered: 1 week ago