Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

On July 3 1 , 2 0 1 8 , the general ledger of Hills Legal Services Inc. showed these balances: Cash $ 4 ,

image text in transcribed
On July 31,2018, the general ledger of Hills Legal Services Inc. showed these balances: Cash $4,000; Accounts Receivable $1,500; Supplies $500; Equipment $5,000; Accounts Payable $4,100; Common Shares $3,500; and Retained Earnings $3,400. The below journal entries were prepared for August 2018. Prepare trial balance as of August 31,2018. Fill in the table. Anything that has already been filled in cannot be moved or changed. You must use the numbers and phrases from the other attatched image.
Aug Entries DR CR
2 cash 1200
AR 1200
3 cash 1300
CS 1300
6 AP 2700
Cash 2700
7 Cash 3000
AR 3500
Sales 6500
13 Equipment 1200
Cash 400
Payable 800
17 Salaries 3500
Rent 900
Advertising 275
Cash 4675
17 Cash 3500
AR 3500
20 RE 500
Cash 500
22 AR 1000
Sales 1000
24 Cash 2000
Loan 2000
27 No entry
28 Utility 275
Accounts payable 275
30 Income Tax 500
Cash 500
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Horngrens Accounting

Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura, Carol A. Meissner, Jo Ann L. Johnston, Peter R. Norwood

10th Canadian edition Volume 2

978-0134213118, 134213114, 133855384, Google Book, 978-0133855388

More Books

Students also viewed these Accounting questions