Question
Oct.1: Purchased additional office supplies on account from Paper Co., $850. Oct.2: Paid Chicago times advertising bill for September, $900. Oct. 3: Sold a house
Oct.1: Purchased additional office supplies on account from Paper Co., $850. Oct.2: Paid Chicago times advertising bill for September, $900. Oct. 3: Sold a house to Helen Baker and collected a commission of $7,300. Oct. 6: Paid gas bill to Haffner Gas Co., $29. Oct. 8: Collected commission from Tropic Developers for sale of building lot on September 17, $10,000. Oct. 12: Paid $530 to Long Realtors Assoc. to send employees to realtors' workshop. Oct. 15: Paid Rosie Petrillo, office secretary, $300. Oct. 17: Sold a house to Gary Schneider and earned a commission of $2,900. Commission to be received on November 10. Oct. 18: Sold a building lot to Lombardi Builders and collected a commission of $4,500. Oct. 22: Sent a check to Heritage Charities for $65 to help sponsor a local road race to aid the poor. (This amount is not to be considered an advertising expense; it is a business expense and is posted to Miscellaneous Expense.) Oct. 24: Paid Hyundai North $620 for repairs to automobile due to accident. Oct. 28: James Sousa withdrew $2,200 from the business to pay personal expenses. Oct. 30: Paid Rosie Petrillo, office secretary, $300. Oct. 30: Paid Comcast telephone bill, $480. Oct. 30: Advertising bill from Chicago Times for October, $1,300. The bill is to be paid on November 2. Required Work for October: 1. Journalize transactions in a general journal (p.4) and post to ledger accounts. 2. Prepare a trial balance in the first two columns of a blank, fold-out worksheet located at the end of your textbook at the end of your textbook and complete the worksheet using the following data: a) One month's rent had expired. Paid 5 months' rent in advance on September 1, $1,000. b) An inventory shows $130 of office supplies remaining. c) Depreciation on office equipment, $160. d) Depreciation on automobile, $210. 3. Prepare an October income statement, statement of owner's equity, and balance sheet. 4. From the worksheet, journalize and post adjusting and closing entries (p. 6 of journal). 5. Prepare a post-closing trial balance. Please Help!!!
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