PR 2-10 Entries into accounts and Trial Balance OBJ. 1. Describe the characteristics of an account and a chart of accounts.2- Describe and illustrate journalisting transactions using the double-entry accounting system. 3 - Describe and illustrate the joumalizing and posting of transactions to accounts. 4. Prepare an adjusted trial balance and explain how it can be used to discover errors Ken Jones, an architect opened an office on April 2014 During the montebe completed the following transactions connected with his professional practice a. Transferred cash from a personal bank account to an account to be used for the business, $18,000 b. Purchased sed automobile for $19.500.payeg 2.500 cash and ung note payable for the remainder c. Paid April rent for office and workroom. 53.150 4. Paid cash for supplies, 1.450 6. Purchased office and computer equipment on account, 95,500 E. Paid cash for annual insurance policies on automobile and get $2.400 Received cash from a client for plans delivered $12.000, h Paid cash to creditors on account 51,800 Paid cash for miscelaneous expenses $375 Received imicice for blueprint service, we in May, 52.500 k Recorded foes eamed on plans delivered payment to be record in hex $15,650 200 1. Paid salary of assistant 2.800 m. Paid cash for miscellaneous expenses. 5200 n. Paid $300 on note payable 2. Paidges, al and repairs on automobile for Press, Instructions 1. Record these transactions directly in the following accounts without journalizing: Cash Accounts Receivable Supplies Prepaid Insurance Automobiles, Equipment Accounts Payable Notes Payatie: Ken Jones Capital Professional Fees: Rent Expense: Salary Expenser: Blue Expense Automobile Expense Miscellaneous Expense. To the left of each amount entered in the accounts, place the appropriate letter to identify the transaction 2 Determine account balances of the accounts. Accounts containing a single entry only (such as Prepaid Insurance do not need a balance 3. Prepare an unadjusted trial balance for Ken Jones Architect, as of Art 30 2014 4. Determine the net income ornet loss for April Today's Dute Business Math Classwork Chapter 2 Make sure that your finale in simplified form! 1 Change a fraction to a decimator viceversa Decimal Fraction a. 0.875 b. M10 c 2.64 d. 17 20 . e 0.08 1 MI 2 5.868 Todas a 10 10 PR 2-10 Entries into accounts and Trial Balance OBJ. 1. Describe the characteristics of an account and a chart of accounts.2- Describe and illustrate journalisting transactions using the double-entry accounting system. 3 - Describe and illustrate the joumalizing and posting of transactions to accounts. 4. Prepare an adjusted trial balance and explain how it can be used to discover errors Ken Jones, an architect opened an office on April 2014 During the montebe completed the following transactions connected with his professional practice a. Transferred cash from a personal bank account to an account to be used for the business, $18,000 b. Purchased sed automobile for $19.500.payeg 2.500 cash and ung note payable for the remainder c. Paid April rent for office and workroom. 53.150 4. Paid cash for supplies, 1.450 6. Purchased office and computer equipment on account, 95,500 E. Paid cash for annual insurance policies on automobile and get $2.400 Received cash from a client for plans delivered $12.000, h Paid cash to creditors on account 51,800 Paid cash for miscelaneous expenses $375 Received imicice for blueprint service, we in May, 52.500 k Recorded foes eamed on plans delivered payment to be record in hex $15,650 200 1. Paid salary of assistant 2.800 m. Paid cash for miscellaneous expenses. 5200 n. Paid $300 on note payable 2. Paidges, al and repairs on automobile for Press, Instructions 1. Record these transactions directly in the following accounts without journalizing: Cash Accounts Receivable Supplies Prepaid Insurance Automobiles, Equipment Accounts Payable Notes Payatie: Ken Jones Capital Professional Fees: Rent Expense: Salary Expenser: Blue Expense Automobile Expense Miscellaneous Expense. To the left of each amount entered in the accounts, place the appropriate letter to identify the transaction 2 Determine account balances of the accounts. Accounts containing a single entry only (such as Prepaid Insurance do not need a balance 3. Prepare an unadjusted trial balance for Ken Jones Architect, as of Art 30 2014 4. Determine the net income ornet loss for April Today's Dute Business Math Classwork Chapter 2 Make sure that your finale in simplified form! 1 Change a fraction to a decimator viceversa Decimal Fraction a. 0.875 b. M10 c 2.64 d. 17 20 . e 0.08 1 MI 2 5.868 Todas a 10 10
