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fill out all the journal, t accounts, unadjusted trail balance and final question January 1, 2019, Sharon Matthews established Tri-City Realty, which completed the following
fill out all the journal, t accounts, unadjusted trail balance and final question
January 1, 2019, Sharon Matthews established Tri-City Realty, which completed the following transactions during the month: Jan. 1 Sharon Matthews transferred cash from a personal bank account to an account to be used for the business, $30,000 2 Paid rent on office and equipment for the month, $2,450. 3 Purchased supplies on account, $2,200. 4 Paid creditor on account, $850. 5 Earned fees, receiving cash, $14,940. 6 Paid automobile expenses (including rental charge) for month, $1,580, and miscellaneous expenses, $470. 7 Paid office salaries, $2,000. 8 Determined that the cost of supplies used was $1,100. 9 Withdrew cash for personal use, $3,200. 1. Joumalize entries for transactions Jan. 1 through 9. Refer to the Chart of Accounts for exact wording of account titles. 2. Post the journal entries to the T accounts, selecting the appropriate date to the left of each amount to identify the transactions. Determine the account balances after all posting is complete. Accounts containing only a single entry do not need a balance. 3. Prepare an unadjusted trial balance as of January 31,2019. 4. Determine the following: a. Amount of total revenue recorded in the ledger. b. Amount of total expenses recorded in the ledger. c. Amount of net income for January. 5. Determine the increase or decrease in for January. Chart of Accounts CHART OF ACCOUNTS Tri-City Realty General Ledger ASSETS REVENUE 11 Cash 41 Fees Earned 12 Supplies EXPENSES LIABILITIES 51 Rent Expense 21 Accounts Payable 52 Office Salaries Expense 53 Automobile Expense EQUITY 31 Sharon Matthews, Capital 54 Supplies Expense 32 Sharon Matthews, Drawing 55 Miscellaneous Expense 2. Post the joumal entries to the Selecting the appropriate date to the loff of each amount to identify the transactions. Determine the account balances after all 1. Joumalize entries for transactions Jan. 1 through 9. Refer to the Chart of Accounts fdis exact wording of account titles. Sharon Matthews, Capital Sharon Matthews. Drawing Misceilanepin. Expense 3. Prepare an unadjusted trial balance as of January 31,2019 4. Determine the following: a. Amount of total recorded in the ledger. b. Amount of total recorded in the ledger. C. Amount of net income for January. 5. Determine the increase or decrease in for JanuaryStep by Step Solution
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