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Monster Planes provides sight - seeing tours in vintage biplanes. The company is owned by Charlie Day. The closing balances at the end of April
Monster Planes provides sightseeing tours in vintage biplanes. The company is owned by Charlie Day. The closing balances at the end of April and the chart of accounts is shown below.
Monster Planes
Balance Sheet
As at April
Assets Liabilities
Cash $ Accounts Payable $
Accounts Receivable $ Unearned Revenue $
Prepaid Insurance $ Bank Loan $
Equipment $ Total Liabilities $
Owners' Equity
Day, Capital $
Total Assets $ Total Liabilities & Owners' Equity $
Account Description Account # Account Description Account #
ASSETS REVENUE
Cash Service Revenue
Accounts Receivable EXPENSES
Prepaid Insurance Advertising Expense
Equipment Insurance Expense
LIABILITIES Interest Expense
Accounts Payable Telephone Expense
Interest Payable
Unearned Revenue
Bank Loan
OWNER'S EQUITY
Day, Capital
Day, Withdrawals
During the month of May, Monster Planes had the following transactions.
Do not enter dollar signs or commas in the input boxes.
Date Account Title and Explanation PR Debit Credit
May Cash Answer
$
Day, Capital Answer
$
Owner invested cash
May Cash Answer
$
Unearned Revenue Answer
$
Received deposit for future services
May Advertising Expense Answer
$
Accounts Payable Answer
$
Record advertising bill
May Interest Expense Answer
$
Cash Answer
$
Paid interest bill
May Accounts Receivable Answer
$
Service Revenue Answer
$
Provide service on account
Required
a Post the journal entries to the general ledger for May
b Fill in the PR column in the journal with the proper ledger numbers.
If there is no entry to a particular account on a given date, please leave that row blank.
Do not enter commas in the input boxes.
Account: Cash GL No
Date Description PR DR CR Balance
May Opening Balance Answer
Answer
May J Answer
Answer
Answer
Answer
May J Answer
Answer
Answer
Answer
May J Answer
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Answer
Answer
May J Answer
Answer
Answer
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May J Answer
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Account: Accounts Receivable GL No
Date Description PR DR CR Balance
May Opening Balance Answer
Answer
May J Answer
Answer
Answer
Answer
May J Answer
Answer
Answer
Answer
May J Answer
Answer
Answer
Answer
May J Answer
Answer
Answer
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May J Answer
Answer
Answer
Answer
Account: Prepaid Insurance GL No
Date Description PR DR CR Balance
May Opening Balance Answer
Answer
May J Answer
Answer
Answer
Answer
May J Answer
Answer
Answer
Answer
May J Answer
Answer
Answer
Answer
May J Answer
Answer
Answer
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May J Answer
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Answer
Account: Equipment GL No
Date Description PR DR CR Balance
May Opening Balance Answer
Answer
May J Answer
Answer
Answer
Answer
May J Answer
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May J Answer
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May J Answer
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May J Answer
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Account: Accounts Payable GL No
Date Description PR DR CR Balance
May Opening Balance Answer
Answer
May J Answer
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Answer
Answer
May J Answer
Answer
Answer
Answer
May J Answer
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Answer
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May J Answer
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Answer
May J Answer
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Account: Unearned Revenue GL No
Date Description PR DR CR Balance
May Opening Balance Answer
Answer
May J Answer
Answer
Answer
Answer
May J Answer
Answer
Answer
Answer
May J Answer
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Answer
Answer
May J Answer
Answer
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May J Answer
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Account: Bank Loan GL No
Date Description PR DR CR Balance
May Opening Balance Answer
Answer
May J Answer
Answer
Answer
Answer
May J Answer
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Answer
May J Answer
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Answer
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May J Answer
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May J Answer
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Account: Day, Capital GL No
Date Description PR DR CR Balance
May Opening Balance Answer
Answer
May J Answer
Answer
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Answer
May J Answer
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Answer
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May J Answer
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May J Answer
Answer
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May J Answer
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Account: Service Revenue GL No
Date Description PR DR CR Balance
May J Answer
Answer
Answer
Answer
May J Answer
Answer
Answer
Answer
May J Answer
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Answer
Answer
May J Answer
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Answer
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May J Answer
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Account: Advertising Expense GL No
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Intermediate Accounting
Authors: James D. Stice, Earl K. Stice, Fred Skousen
16th Edition
324376375, 0324375743I, 978-0324376371, 9780324375749, 978-0324312140
