On June 1, 2016, Kim Wheeler established an interior decorating business, Intrex Designs During the month, Kim completed the following transactions related to the business June 1 Kim transferred cash from a personal bank account to an account to be used for the business, $32,100 4 Paid rent for period of June 4 to end of month, $3,110 6 Purchased a truck for $27,000, paying $3,000 cash and giving a note payable for the remainder 8 Purchased equipment on account, $12,520 10 Purchased supplies for cash, $2,150 12 Paid annual premiums on property and casualty insurance, $4,820 15 Received cash for job completed, $13,480 23 Paid creditor a portion of the amount owed for equipment purchased on June 13, $4,460 24 Recorded jobs completed on account and sent invoices to customers, $15,340 25 Received an invoice for truck expenses, to be paid in July, $1,410 26 Paid utilities expense, $1,610 27 Paid miscellaneous expenses, $580 28 Received cash from customers on account, $6,420 29 Paid wages of employees, $4,270 30 Withdrew cash for personal use, $3,560 Required 1 Journalize each transaction in a two column journal, beginning on Page 1, referring to the following chart of accounts in selecting the accounts to be debited and credited (Do not insert the account numbers in the journal at this time ) Journal entry explanations may be omitted For a compound transaction, if an amount box does not require an entry, leave it blank 11 Cash 31 Kim Wheeler, Capital 12 Accounts Receivable 32 Kim Wheeler, Drawing 13 Supplies 41 Fees Earned 14 Prepaid Insurance 51 Wages Expense 16 Equipment 53 Rent Expense 18 Truck 54 Utilities Expense 21 Notes Payable 55 Truck Expense 22 Accounts Payable 59 Miscellaneous Expense 2 Post (in chronological order) the journal to a ledger of four column accounts, inserting appropriate posting references in the general journal as each item is posted Extend the balances to the appropriate balance columns after each transaction is posted If an amount box does not require an entry, leave it blank General Ledger Account Cash ACCOUNT NO 11 Balance Date Item Post Ref Debit Credit Debit Credit 2016 June 1 June 4 June 6 June 10 June 12 June 15 June 23 June 26 June 27 June 28 June 29 June 30 Account Accounts Receivable ACCOUNT NO 12 Balance Date Item Post Ref Debit Credit Debit Credit 2016 June 24 June 28 Account Supplies ACCOUNT NO 13 Balance Date Item Post Ref Debit Credit Debit Credit 2016 June 10 Account Prepaid Insurance ACCOUNT NO 14 Balance Date Item Post Ref Debit Credit Debit Credit 2016 June 12 Account Equipment ACCOUNT NO 16 Balance Date Item Post Ref Debit Credit Debit Credit 2016 June 8 Account Truck ACCOUNT NO 18 Balance Date Item Post Ref Debit Credit Debit Credit 2016 June 6 Account Notes Payable ACCOUNT NO 21 Balance Date Item Post Ref Debit Credit Debit Credit 2016 June 6 Account Accounts Payable ACCOUNT NO 22 Balance Date Item Post Ref Debit Credit Debit Credit 2016 June 8 June 23 June 25 Account Kim Wheeler, Capital ACCOUNT NO 31 Balance Date Item Post Ref Debit Credit Debit Credit 2016 June 1 Account Kim Wheeler, Drawing ACCOUNT NO 32 Balance Date Item Post Ref Debit Credit Debit Credit 2016 June 30 Account Fees Earned ACCOUNT NO 41 Balance Date Item Post Ref Debit Credit Debit Credit 2016 June 15 June 24 Account Wages Expense ACCOUNT NO 51 Balance Date Item Post Ref Debit Credit Debit Credit 2016 June 29 Account Rent Expense ACCOUNT NO 53 Balance Date Item Post Ref Debit Credit Debit Credit 2016 June 4 Account Utilities Expense ACCOUNT NO 54 Balance Date Item Post Ref Debit Credit Debit Credit 2016 June 26 Account Truck Expense ACCOUNT NO 55 Balance Date Item Post Ref Debit Credit Debit Credit 2016 June 25 Account Miscellaneous Expense ACCOUNT NO 59 Balance Date Item Post Ref Debit Credit Debit Credit 2016 June 27 3 Prepare an unadjusted trial balance for Intrex Designs as of June 30, 2016 For those boxes in which no entry is required, leave the box blank The first two account titles are filled in as an example Intrex Designs Unadjusted Trial Balance June 30, 2016 Debit Balances Credit Balances Cash Accounts Receivable Totals 4 Determine the excess of revenues over expenses for June

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On June 1, 2016, Kim Wheeler established an interior decorating business, Intrex Designs. During the month, Kim completed the following transactions related to the business.

June	1	Kim transferred cash from a personal bank account to an account to be used for the business, $32,100.
	4	Paid rent for period of June 4 to end of month, $3,110.
	6	Purchased a truck for $27,000, paying $3,000 cash and giving a note payable for the remainder.
	8	Purchased equipment on account, $12,520.
	10	Purchased supplies for cash, $2,150.
	12	Paid annual premiums on property and casualty insurance, $4,820.
	15	Received cash for job completed, $13,480.
	23	Paid creditor a portion of the amount owed for equipment purchased on June 13, $4,460.
	24	Recorded jobs completed on account and sent invoices to customers, $15,340.
	25	Received an invoice for truck expenses, to be paid in July, $1,410.
	26	Paid utilities expense, $1,610.
	27	Paid miscellaneous expenses, $580.
	28	Received cash from customers on account, $6,420.
	29	Paid wages of employees, $4,270.
	30	Withdrew cash for personal use, $3,560.

Required:

1. Journalize each transaction in a two-column journal, beginning on Page 1, referring to the following chart of accounts in selecting the accounts to be debited and credited. (Do not insert the account numbers in the journal at this time.) Journal entry explanations may be omitted. For a compound transaction, if an amount box does not require an entry, leave it blank.

11 Cash	31 Kim Wheeler, Capital
12 Accounts Receivable	32 Kim Wheeler, Drawing
13 Supplies	41 Fees Earned
14 Prepaid Insurance	51 Wages Expense
16 Equipment	53 Rent Expense
18 Truck	54 Utilities Expense
21 Notes Payable	55 Truck Expense
22 Accounts Payable	59 Miscellaneous Expense

2. Post (in chronological order) the journal to a ledger of four-column accounts, inserting appropriate posting references in the general journal as each item is posted. Extend the balances to the appropriate balance columns after each transaction is posted. If an amount box does not require an entry, leave it blank.

General Ledger
Account	Cash				ACCOUNT NO.	11
					Balance
Date	Item	Post. Ref.	Debit	Credit	Debit	Credit
2016
June 1
June 4
June 6
June 10
June 12
June 15
June 23
June 26
June 27
June 28
June 29
June 30

Account	Accounts Receivable				ACCOUNT NO.	12
					Balance
Date	Item	Post. Ref.	Debit	Credit	Debit	Credit
2016
June 24
June 28

Account	Supplies				ACCOUNT NO.	13
					Balance
Date	Item	Post. Ref.	Debit	Credit	Debit	Credit
2016
June 10

Account	Prepaid Insurance				ACCOUNT NO.	14
					Balance
Date	Item	Post. Ref.	Debit	Credit	Debit	Credit
2016
June 12

Account	Equipment				ACCOUNT NO.	16
					Balance
Date	Item	Post. Ref.	Debit	Credit	Debit	Credit
2016
June 8

Account	Truck				ACCOUNT NO.	18
					Balance
Date	Item	Post. Ref.	Debit	Credit	Debit	Credit
2016
June 6

Account	Notes Payable				ACCOUNT NO.	21
					Balance
Date	Item	Post. Ref.	Debit	Credit	Debit	Credit
2016
June 6

Account	Accounts Payable				ACCOUNT NO.	22
					Balance
Date	Item	Post. Ref.	Debit	Credit	Debit	Credit
2016
June 8
June 23
June 25

Account	Kim Wheeler, Capital				ACCOUNT NO.	31
					Balance
Date	Item	Post. Ref.	Debit	Credit	Debit	Credit
2016
June 1

Account	Kim Wheeler, Drawing				ACCOUNT NO.	32
					Balance
Date	Item	Post. Ref.	Debit	Credit	Debit	Credit
2016
June 30

Account	Fees Earned				ACCOUNT NO.	41
					Balance
Date	Item	Post. Ref.	Debit	Credit	Debit	Credit
2016
June 15
June 24

Account	Wages Expense				ACCOUNT NO.	51
					Balance
Date	Item	Post. Ref.	Debit	Credit	Debit	Credit
2016
June 29

Account	Rent Expense				ACCOUNT NO.	53
					Balance
Date	Item	Post. Ref.	Debit	Credit	Debit	Credit
2016
June 4

Account	Utilities Expense				ACCOUNT NO.	54
					Balance
Date	Item	Post. Ref.	Debit	Credit	Debit	Credit
2016
June 26

Account	Truck Expense				ACCOUNT NO.	55
					Balance
Date	Item	Post. Ref.	Debit	Credit	Debit	Credit
2016
June 25

Account	Miscellaneous Expense				ACCOUNT NO.	59
					Balance
Date	Item	Post. Ref.	Debit	Credit	Debit	Credit
2016
June 27

3. Prepare an unadjusted trial balance for Intrex Designs as of June 30, 2016. For those boxes in which no entry is required, leave the box blank. The first two account titles are filled in as an example.