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c?(red box are incorrect) Below is the trial balance of Slowcombe Services on September 30, 2021. SLOWCOMBE SERVICES Trial Balance September 30, 2021 Debit Credit
c?(red box are incorrect)
Below is the trial balance of Slowcombe Services on September 30, 2021. SLOWCOMBE SERVICES Trial Balance September 30, 2021 Debit Credit Cash $7,500 Accounts receivable 2,000 Supplies 1,500 Equipment 7,500 Accounts payable $ 4,000 800 Unearned revenue W. Slowcombe, capital 13,700 $ 18,500 $ 18,500 The October transactions were as follows: Oct. 5 10 15 17 Received $1,000 in cash from customers for accounts receivable due. Billed customers for services performed in the amount of $5,000. Paid employee salaries of $ 1,000. Performed $ 500 of services for customers who paid in advance in August. Paid $ 1,200 to creditors for accounts payable due. William Slowcombe withdraws $ 200 cash for personal use. Paid utilities of $ 400. 20 29 30 31 Paid $500 for maintenance expense. (a) Your Answer Correct Answer (Used) Prepare a general ledger using Taccounts. Enter the opening balances in the ledger accounts as of October 1. Cash Oct. 1 Bal. 7.500 Accounts Receivable Oct. 1 Bal. 2.000 Supplies Oct. 1 Bal 1.500 Equipment Oct. 1 Bal 7.500 Accounts Payable Oct. 1 Bal. 4.000 Unearned Revenue Oct. 1 Bal 800 W. Slowcombe, Capital Oct. 1 Bal. 13.700 (b) Your answer is correct. Prepare journal entries to record the above transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit Oct. 5 Cash 1000 Accounts Receivable 1000 Oct. 10 Accounts Receivable 5000 Service Revenue 5000 Oct. 15 Salaries Expense 1000 Cash 1000 Oct. 17 Unearned Revenue 500 Service Revenue 500 Oct. 204 Accounts Payable 1200 Cash 1200 (c) Your answer is partially correct. Post to the Taccounts. (Post entries in the order of journal entries presented in the previous part.) Cash Oct. 1 Bal 7.500 Oct. 15 1000 Oct. 5 1000 Oct 20 1200 Oct 29 200 DDDDD Oct 30 400 Oct. 31 500 8500 Bal. 5200 Accounts Receivable Oct. 1 Bal 2.000 Oct. 5 1000 Oct 10 5000 Bal 6000 7000 7000 Supplies Oct. 1 Bal. 1,500 Bal. 1500 1500 1500 Equipment Oct. 1 Bal. 7,500 Bal 7500 7500 7500 Accounts Payable Oct. 20 1200 Oct. 1 Bal. 4.000 Bal. 2800 4000 Unearned Revenue Oct. 17 500 Oct. 1 Bal 800 Bal 300 800 W. Slowcombe, Capital Bal 13700 Oct. 1 Bal. 13.700 . 13700 13700 W. Slowcombe, Drawings Oct. 29 200 Bal. 200 200 200 Service Revenue Bal. 5500 Oct. 10 5000 Oct. 17 500 5500 5500 Salaries Expense Oct. 15 1000 Bal. 1000 1000 1000 Utilities Expense Oct. 30 400 Bal. 400 400 400 Maintenance Expense Oct. 31 500 Bal 500 500 500 Step by Step Solution
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