James Sousa decided to open his own real estate office called Sousa Realty.

Part A

1. Journalize and post (to the ledger) the following transactions. The account titles are in the ledger template.

2. Complete the trial balance to check the accuracy of your work.

A

9/1: Invested $12,000 cash in his real estate agency along with office equipment valued at $5,000.

9/1: Paid 4 months rent for real estate office in advance, $4,800

9/1: Bought an automobile on account from Hyundai North, $19,000.

9/3: Sold a house to Earl Kelce and earned $5,000 commission to be paid later (on account).

9/5: Purchased office supplies from Paper Company on account, $850.

9/7: Signed consulting agreement in the sale of several properties for Courtland Financial Trust. Received commissions in advance, $4,000.

9/10: Paid Comcast September telephone bill, $330.

9/15: James Sousa withdrew cash for personal use, $4,000.

9/21: Sold a house to Sandy Holloway and collected a $7,000 commission in cash

9/25: Received $2,500 as partial payment from Earl Kelce for 9/3 commission.

9/27: Paid Paper Company $600 in partial payment for 9/5 purchase

9/30: Paid secretarys salary, $800.

9/30: Received advertising bill, $900, from the Chicago Times. The bill is to be paid on 10/20

Part B

1. Journalize and post (to the ledger) the following Adjusting Entries.

2. Create an adjusted trial balance to check the accuracy of your work.

9/30 Commissions (considered salaries) of $2,400 earned by sales associates (employees) in September will be paid on 10/15.

9/30 An inventory count reveals $200 of office supplies left over from the 9/5 purchase.

9/30 Depreciation of the Automobile has been calculated at $300 for the month using the straight line method. (19,000 - 1,000)/60 months.

9/30 One month of the prepaid office rent has expired.

9/30 One property for Courtland was sold (see 9/7). $800 of previously unearned commissions has now been earned.

AutoSave Home Insert Draw Help Assign 2 Journal and Ledger Templete (2) View Tell me Page Layout Formulas Data Review X ID Calibri (Body) 11 Paste B TU General a. Av lilli E18 f fx % ) Conditional Format Formatting as Table B 1 D E F G H GENERAL JOURNAL POST REF DEBIT CREDIT 2 DATE 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 Assign 2 Journal Assign 2 Lodgor Assign 2 Trial Bat Assign 2 Journal Adjustments) Assign 2 Ad Trial Bat (2) OCT 12 A C11 x fx A B E F G H 1 2 3 Sousa Realty Adjusted Trial Balance 9/30/20xx 4 5 6 DEBIT CREDIT 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 Assign 2 Journal Assign 2 Ledger Assign 2 Trial Ball Assign 2 Journal (Adjustments) Assign Adj Trial B