Journal entries and trial balance TAccounts Office Salaries Expense Automobile Expense Supplies Expense Miscellaneous Expense 8 Determined that the cost of supplies used was $1,150. 9 Paid dividends, $2,800. 1. Joumalize entries for transactions Oct, t through 9. 2. Post the journal entries to the Iaccounts selecting the appropriafe date to the left of each amount to identify the transactions. Determine the account balances, after all posting is complete. Accounis containing only a single entry do not need a balance. 3. Prepare an unadjusted trial balance as of October 31, 20 Y6. 4. Defermine 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 October. 5. Determine the increase or decrease in refained earnings for October. 3. Prepare an unadjusted trial balance as of October 31,20Y6. On October 1, 20Y6, Jay Crowley established Affordable Realty, which completed the following transactions during the month: Oct. 1 Jay Crowley transferred cash from a personal bank account to an account to be used for the business in exchange for common stock, $30,600. 2 Paid rent on office and equipment for the month, $2,750. 3 Purchased supplies on account, \$2,350. 4 Paid creditor on account, $890. 5 Earned sales commissions, receiving cash, $15,800. 6 Paid automobile expenses (including rental charge) for month, $1,600, and miscellaneous expenses, $680. 7 Paid office salaries, $2,000. R Datermined that the coet of cunnliac used was \$1 150 TAccounts Cash Supplies TAccounts Common Stock Dividends Sales Commissions Rent Expense 2. Post the journal entries to the seiecting the appropriate date to the left of each amount fo identify the transactions. Dotermine the account batances, atter all pesting is complete. Accounts cantaining only a single entry do not need a balance. 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 October. 5. Determine the increase or decrease in retained earnings for October. Instructions Chart of Accounts General Journal TAccounts Unadjusted Trial Balanc Unadjusted Trial Balance 4 Common Stock 5 Dividends 6 Sales Commissions 7 Rent Expense 8 Office Salaries Expense 9 Automobile Expense 10 Supplies Expense 11 Miscellaneous Expense 12 Totals CHART OF ACCOUNTS Affordable Realty General Ledger ASSETS 11 Cash 12 Supplies REVENUE 41 Sales Commissions EXPENSES 51 Rent Expense 52 Office Salaries Expense TAccounts Supplies Bal. Accounts Payable Bal. Common Stock Chart of Accounts ASSETS 11 Cash 12 Supplies LIABILITIES 21 Accounts Payable EQUITY 31 Common Stock 33 Dividends REVENUE 41 Sales Commissions EXPENSES 51 Rent Expense 52 Office Salaries Expense 53 Automobile Expense 54 Supplies Expense 55 Miscellaneous Expense 1. descryilke entries for transactions Oct. 1 through 9
