Exercise1

Prepare an unadjusted trial balance with the following data: For the trial balance you must list the accounts using the following order: Assets, Liabilities, Capital, Revenues and Expenses. Account Balance

Accounts receivable 119,000

Prepaid insurance 20,500

Materials (supplies) 3,850

Cash ?

Equipment 35,000

Accounts payable 45,000 Notes payable 42,800

Juan del Pueblo ,capital 69,000

Juan del Pueblo, retreats (drawings) 20,000

Earned income 835,000

Utility expenses 24,500

Wage expenses (salaries expense) 620,000

Advertising expenses 3,500

Rent expenses 45,000

Exercise 2

Identifie

sand LISTS errors by explaining the error in the following check balance according to the data presented.

Tu Terruo Restaurant Check balance At the end of March 2020

Debit Account Credit (Credit)

Cash 584,000

Accounts receivable 210,000

Equipment 140,000

Materials (supplies)18,000

Accounts payable 43,000

Juan Romn ,capital 632,000

Earned income(fee earned)

Rent expense 20,000

Salary expense 280,000

Total1,320,000

Exercise 3

Camino al Mar, a wedding coordination business, began on March 1, 2020.

A. Use the information provided to complete the exercise. To Records the following transactions in the journal.

B. Posts the transfer to the ledger.

C. Prepares the test balance.

Transaction Date

March 1 $20,000 cash was invested to start the business.

March 3 A vehicle was purchased for the business for $15,000 on credit.

March 3 Decoration materials were purchased for a total of $4,500.

March 4 A prepaid insurance policy was paid for $2,400 effectively as of March1.

March 5 A fee earned was performed in the amount of $3,800 in cash

March 10 A credit was paid to the purchased vehicle of $2,000.

March 15 Employees were paid wages for $2,850.

March 16 A wedding decoration was performed on credit for $5,500.

March 18 A decoration was made for a fifteen-year cash for $2,000.

March 20 The customer who was given the work on March16 paid $1,600.

March 21 Paid for business vehicle gasoline $250.

March 22 She received payment for the decoration for a bachelorette party for $1,450. March25 Paid for business vehicle gasoline $100.

March 28 $1,250 advertising expenses were paid.

March 29 A personal withdrawal was made in the amount of $350.

March 30 Employees were paid $1,850 salary