lonarnul entries and triel balonce Joernul entries and trial butance Apr. 1 Paid rent on office for month, $4,500. 2 Purchased office supplies on account, \$2,100. 5 Paid insurance premiums, $6,000. 10 Received cash from clients on account, 552,700. 15 Purchased land for a future building site for $206,000, paying $25,000 in cash and giving a note payable for the remainder. 17 Paid creditors on account, \$6,500. 20 Returned a portion of the office supplies purchased on April 2, receiving full credit for their cost, $370 23 Paid advertising expense, \$4,050. it the following transactions on Page 19 of the two-column journal: Apr. 27 Discovered an error in computing a commission, received cash from the salesperson for the overpayment, $3,000. 28 Paid automobile expense (including rental charges for an automobile), \$1,700. 29 Paid miscellaneous expenses, $1,400. 30 Recorded revenue earned and billed to clients during the month, 558,000 . 30 Paid salaries and commissions for the month, $14,700. 30 Withdrew cash for personal use, $4,000. 30 Rented land purchased on April 15 to local merchants association for use as a parking lot in May and June, during a street rebuilding program; received advance payment of $10,400. Required: thould be 50 example joumal page to POST. REF is simply to. Uav a for beginning balancess if the ending balance is so, at ioust one balance amount should be 50 2. damalize the transections for Aprit in a hwo-colume roumul beginving on Page to. Refer to the Chart or Accourts for exact wording of account thies. Reter to the chart of accounts for the exact wording of the account fales. CNow joumals do not use lines for journat enplanations. Every Whe on a joumal page is used for debt or credt entries. CNOW jousnass wW actomatcally indent a creot entry whan a credt amount is entered 3. Post to the isdonc, extending the account balance to the appropviafe balance column affer each posaing. Post in chvonobgicar order. For Janaactions occurning on the same day poet in the order presented in the instructons. insert the approariate posting references in both the jounat and the ledger as esch item is pasted Record DATE, POST REF, a debit ar creat and a deot or credt under EALANCE on every ne in CNOW them descriptions are used for balances. Enter Balance for ITEM when recording beginning batances Leave ITEM biank when recoraing al other entries in CNOW, Journar puges do not begin with 'I5 For examole joumal page fo posT REF is simpy to use o for beginning batances. If the ending batance is 50 . at least one batance amouit ahould be 50 . 4. Prepare an of the ledger as of Apan 30,20Y7. 5 Assume that the Aont 30 transection for salares and commissions should have been st7, d00. (a) Why did the unedusced taal baience is (7) balance? (D) Joumalze the correcting entry on Apir so: Use pege 20 (Nore: You wif not be reaured to poot ths enty to the ledger at this fitme) (c) is this error a transicasitan or alite? Instuclions Chart of Accounts CHART OF ACCOUNTS Elite Realty General Ledger ASSETSCashREVENUE41FeesEarned 12 Accounts Receivable 13 Prepaid Insurance EXPENSES 14 Office Supplies 51 Salary and Commission Expense 16 Land 52 Rent Expense 53 Advertising Expense LIABILITIES 54 Automobile Expense 21 Accounts Payable 59 Miscellaneous Expense \begin{tabular}{|l|} \hline Instructi \\ \hline Instructions \end{tabular} Instructions Eli 13 Prepaid Insurance 14 Office Supplies 16LandLIABILITIES21AccountsPayable52RentExpense53AdvertisingExpense54AutomobileExpense59MiscellaneousExpense 22 Unearned Rent 23 Notes Payable EQUITY 31 Lester Wagner, Capital 32 Lester Wagner, Drawing a) Why did the unadjutted trial batance in (4) batance? Will automatcally indent a credit entry when a credit amount is entered. (c) Is this error a fransposition of slide? lonarnul entries and triel balonce Joernul entries and trial butance Apr. 1 Paid rent on office for month, $4,500. 2 Purchased office supplies on account, \$2,100. 5 Paid insurance premiums, $6,000. 10 Received cash from clients on account, 552,700. 15 Purchased land for a future building site for $206,000, paying $25,000 in cash and giving a note payable for the remainder. 17 Paid creditors on account, \$6,500. 20 Returned a portion of the office supplies purchased on April 2, receiving full credit for their cost, $370 23 Paid advertising expense, \$4,050. it the following transactions on Page 19 of the two-column journal: Apr. 27 Discovered an error in computing a commission, received cash from the salesperson for the overpayment, $3,000. 28 Paid automobile expense (including rental charges for an automobile), \$1,700. 29 Paid miscellaneous expenses, $1,400. 30 Recorded revenue earned and billed to clients during the month, 558,000 . 30 Paid salaries and commissions for the month, $14,700. 30 Withdrew cash for personal use, $4,000. 30 Rented land purchased on April 15 to local merchants association for use as a parking lot in May and June, during a street rebuilding program; received advance payment of $10,400. Required: thould be 50 example joumal page to POST. REF is simply to. Uav a for beginning balancess if the ending balance is so, at ioust one balance amount should be 50 2. damalize the transections for Aprit in a hwo-colume roumul beginving on Page to. Refer to the Chart or Accourts for exact wording of account thies. Reter to the chart of accounts for the exact wording of the account fales. CNow joumals do not use lines for journat enplanations. Every Whe on a joumal page is used for debt or credt entries. CNOW jousnass wW actomatcally indent a creot entry whan a credt amount is entered 3. Post to the isdonc, extending the account balance to the appropviafe balance column affer each posaing. Post in chvonobgicar order. For Janaactions occurning on the same day poet in the order presented in the instructons. insert the approariate posting references in both the jounat and the ledger as esch item is pasted Record DATE, POST REF, a debit ar creat and a deot or credt under EALANCE on every ne in CNOW them descriptions are used for balances. Enter Balance for ITEM when recording beginning batances Leave ITEM biank when recoraing al other entries in CNOW, Journar puges do not begin with 'I5 For examole joumal page fo posT REF is simpy to use o for beginning batances. If the ending batance is 50 . at least one batance amouit ahould be 50 . 4. Prepare an of the ledger as of Apan 30,20Y7. 5 Assume that the Aont 30 transection for salares and commissions should have been st7, d00. (a) Why did the unedusced taal baience is (7) balance? (D) Joumalze the correcting entry on Apir so: Use pege 20 (Nore: You wif not be reaured to poot ths enty to the ledger at this fitme) (c) is this error a transicasitan or alite? Instuclions Chart of Accounts CHART OF ACCOUNTS Elite Realty General Ledger ASSETSCashREVENUE41FeesEarned 12 Accounts Receivable 13 Prepaid Insurance EXPENSES 14 Office Supplies 51 Salary and Commission Expense 16 Land 52 Rent Expense 53 Advertising Expense LIABILITIES 54 Automobile Expense 21 Accounts Payable 59 Miscellaneous Expense \begin{tabular}{|l|} \hline Instructi \\ \hline Instructions \end{tabular} Instructions Eli 13 Prepaid Insurance 14 Office Supplies 16LandLIABILITIES21AccountsPayable52RentExpense53AdvertisingExpense54AutomobileExpense59MiscellaneousExpense 22 Unearned Rent 23 Notes Payable EQUITY 31 Lester Wagner, Capital 32 Lester Wagner, Drawing a) Why did the unadjutted trial batance in (4) batance? Will automatcally indent a credit entry when a credit amount is entered. (c) Is this error a fransposition of slide