Need Help ASAP. (PR.02-04.BLANKSHEET)

Journal 1 rows go to 17

journal 2 rows go to 14

Instructions Elite Realty acts as an agent in buying, selling, renting, and managing real estate. The unadjusted trial balance on March 31 2019, follows Elite Realty UNADJUSTED TRIAL BALANCE March 31, 2019 ACCOUNT TITLE DEBIT CREDIT 1 Cash 25,600.00 61,900.00 2 Accounts Receivable 2,600.00 3 Prepaid Insurance a Office Supplies 2,000.00 5 Land 12,900.00 6 Accounts Payable 1 Uneamed Rent Notes Payable Lester Wagner, Capital 46,000.00 46,000.00 2,000.00 233.000.00 Instructions este Wagner Capital Lester Wagner, Drawing 21 Fees Earned 13 Salary and Commission Expense Rest Expense Advertising Experte 11 Automobile Expense Miscellaneous Expense 146.500.00 25.000.00 1660000 5.600.00 410000 291.900.00 Total 291.900.00 The following business transactions were completed by te Really during Art 2019. Enter the Transactions tough don Page 18 of the ho.com AP 1 2 Paid rent on office for mone, S4,000 Purchased olieplies on account $2.500 Pad insurance premum SS500 5 Instructions 5 Paid insurance premiums, $5,500 10 Received cash from clients on account, $52,100. 15 Purchased land for a future building site for $242,500, paying $21,000 in cash and giving a note payable for the remainder Paid creditors on account, $6,500 20 Returned a portion of the office supplies purchased on April 2, receiving full credit for their cost, $330. Paid advertising expense, $4,000 17 23 Enter the following transactions on Page 19 of the two column journal Apr 27 28 29 Discovered an error in computing a commission, received cash from the salesperson for the overpayment, $2,600 Paid automobile expense (including rental charges for an automobile), S1,500 Paid miscellaneous expenses $1,600 Recorded revenue earned and billed to clients during the month, $57,000 Paid salaries and commissions for the month, $13,500. Withdrew cash for personal use. $4,000 Rented land purchased on April 15 to local merchants association for use as a parking lot in May and 30 30 30 30 Instructions 30 30 Paid salanes and commissions for the month, $13,500 Withdrew cash for personal use $4,000 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 $11.400 30 Required: 1 Record the April 1 2019, balance of each account in the appropriate balance column of a four-column account type Balance in the item section, and select a check mark in the Posting Reference column 2. Joumalize the transactions for April in a two-column oumal beginning on Page 18. Refer to the Chart of Accounts for exact wording of account titles 3 Post to the edge extending the account balance to the appropriate balance column after each posting Post in chronological order For transactions occurring on the same day, post in the order presented in the instructions Insert the appropriate posting references in both the journal and the ledger as each item is posted 4. Prepare an nadiusted to balance of the ledger as of April 30 2019 5 Assume that the April 30 transaction for salanes and commissions should have been $15,300 (a) Why did the unadjusted trial balance m (4) balance? () Journalize the correcting entry on Apni 30 Use page 20 (Note You will not be required to post this entry to the ledger at this time) (c) Is this error a transposition or slide? Chart of Accounts General Leuyer ASSETS REVENUE 11 Cash 41 Fees Earned 12 Accounts Receivable 13 Prepaid Insurance 14 Office Supplies 16 Land EXPENSES 51 Salary and Commission Expense 52 Rent Expense 53 Advertising Expense 54 Automobile Expense 59 Miscellaneous Expense LIABILITIES 21 Accounts Payable 22 Unearned Rent 23 Notes Payable 22 EQUITY 31 Lester Wagner, Capital 32 Lester Wagner, Drawing Journal 2 Journalize the transactions for April in a two-column joumal beginning on Page 18 Refer to the Chart of Accounts for exact wording of account titles PAGE 18 JOURNAL POST. REF: DEBIT CREDIT DATE DESCRIPTION 1 2 3 3 7 3 Journal PAGE 19 JOURNAL DATE DESCRIPTION POST. REF DEBIT CREDIT 6 7 8 9 10 11 12 Ledger 1 Record the Apr 1 2019, balance of each account in the appropriate balance column of a four column account type Balance in the item section and select a check mark in the Posting Reference column 3. Post to the ledor extending the account balance to the appropriate balance column after each pouting Post in chronological order for actions occurring on the same day post in the order presented in the instructions Insert the appropriate posting references in both the journal and the lodge as each com is posted LIXER Account Cash Account Ascounts Receivable Account Prepaid inwance Account Office Supplies Account Land Account AC 12 Account Account No. 14 Account 10 Unadjusted Trial Balance 4. Prepare an unadjusted trial balance of the ledger as of April 30, 2019 Elite Realty UNADJUSTED TRIAL BALANCE April 30, 2019 ACCOUNT TITLE DEBIT CREDIT 1 Cash 2 Accounts Receivable 3 Prepaid Insurance 4 Office Supplies 5 Land 6 Accounts Payable 7. Unearned Rent 8 Notes Payable 9 Lester Wagner, Capital Unadjusted Trial Balance 4 Office Supplies 5 Land 6 Accounts Payable 7 Unearned Rent 8 Notes Payable 9 Lester Wagner, Capital 10 Lester Wagner, Drawing 11 Fees Earned 12 Salary and Commission Expense 13 Rent Expense 14 Advertising Expense 15 Automobile Expense 16 Miscellaneous Expense 17 Totals Final Questions 5. Assume that the Apni 30 transaction for salaries and commissions should have been $15,300 (a) Why did the unadjusted trial balance in (4) balance? (b) Journalize the correcting entry on April 30 Use page 20 (Note You will not be required to post this entry to the ledger at this time) PAGE 20 JOURNAL DESCRIPTION DATE POST. RER DEBIT CREDIT 2 (c) Is this error a transposition or slide