financial accounting 9th edition weygandt, kimmel, kieso

problem P2-3A

Tom Zopf owns and manages a computer repair service which had the following trial balance on Dec 31,2014 (end of fiscal year)

Tablette Repair Service

Trial Balance

Dec. 31,2014

Debit Credit

Cash 8000

Acct Rec. 15000

Supplies 11000

Prepaid Rent 3000

Equipment 21000

Accts Pay 17000

Common stock 30000

Retained Earnings 11000

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58000 58000

summarized transactions for Jan 2015 were as folows.

1. advertising costs, paid in cash 1000

2. Additional supplies acquired on account 3600

3. Misc expenses paid in cash 1700

4. Cash collected from customers in payment on accounts receivable 13000

5. cash paid to creditors for accounts payable due 14400

6. Repair services performed during january: for cash 5000. on account 9000

7. wages for january paid in cash 3000

8. dividends during january were 1600

Note: Trial balance total is 61,200

A. open a T account for each of the accounts listed in the trial balance and enter the opening balances for 2015

B. Prepare journal entries to record each of the Jan transactions (omit explanations)

c. Post the journal entries to the accounts in the ledger (add accounts as needed)

D. Prepare a trial balance as of Jan 31, 2015