Print 5. The following transactions occurred for Watson Technology Solutions: (Click the icon to view the transactions.) Click the icon to view the journal entries.) Read the requirement (Compute the new balance for each account after posting the transaction.) May 1: The business received cash of $100.000 and issued common stock to Zachary Watson CASH Account No. 110 Balance Date Post. Ref. Debit Credit Debit Credit May 1 COMMON STOCK Account No. 310 Balance Date Item Post. Ref. Debit Credit Debit Credit May 1 Select the posting references in the journal for the transaction you posted in the preceding step. Date Accounts and Explanation Post. Ref. Deblt Credit May 1 Cash (3) 100,000 Common Stock 100,000 Issued common stock in exchange for cash. May 2: Purchased office supplies on account, $760. OFFICE SUPPLIES Account No. 130 Balance Date Post. Ref. Debit Credit Debit Credit May 2 ACCOUNTS PAYABLE Print Print Account No. 210 Balance Date Post. Ref | Debit Credit Debit Credit May 2 Select the posting references in the journal for the transaction you posted in the preceding stop. Date Accounts and Explanation Post. Ref. Debit Credit May 2 760 Office Supplies Accounts Payable Purchased office supplies on account. (8) 760 May 4: Paid $56,000 cash for building and land. The building was valued at $44,000. CASH Account No. 110 Balance Debit Credit Date Post. Ref. Debit Credit 100,000 100,000 May 1 May 4 J10 (9) LAND Account No. 150 Balance Date Post. Ref. Debit Credit Debit Credit May 4 (10) BUILDING Account No. 160 Balance Date Post. Ref. Debit Credit Debit Credit May 4 Print Print Select the posting references in the journal for the transaction you posted in the preceding step. Date Accounts and Explanation Post. Ref. Debit Credit May 4 (12) Building Land 44,000 12,000 (13) 56.000 Cash Paid cash for building and land. May 6: Performed services for customers and received cash, $2,600. CASH Account No. 110 Balance Date Post. Ref. Debit Credit Debit Credit 100,000 May 1 May 4 May 6 100.000 44,000 56,000 J10 (15) SERVICE REVENUE Account No. 410 Balance Debit Credit Date Post. Ref. Debit Credit May 6 Credit Select the posting references in the journal for the transaction you posted in the precoding step. Date Accounts and Explanation Post. Ref. Debit May 6 Cash 2,600 Service Revenue Performed services and received cash. (177 2,600 May 9: Paid $460 on accounts payable. Print CASH Account No. 110 Balance Date Item Post. Ref. Debit Credit Debit Credit J10 100,000 J10 56,000 May 1 May 4 May 6 May 9 100,000 44,000 46,600 2,600 J10 (19) ACCOUNTS PAYABLE Account No. 210 Balance Date Post. Ref. Debit Credit Debit Credit J10 May 2 May 9 (20) 460 Select the posting references in the journal for the transaction you posted in the preceding step. Date Accounts and Explanation Post. Ref. Debit Credit May 9 Accounts Payable (21) 460 Cash (22) Paid cash on account. May 17: Performed services for customers on account, $2,000. ACCOUNTS RECEIVABLE Account No. 120 Balance Date Post. Ref. Debit Credit Debit Credit May 17 SERVICE REVENUE Print Account No. 410 Balance Debit Credit Date Item Post. Ref. Debit Credit J10 2,600 2.600 May 6 May 17 (24 Select the posting references in the journal for the transaction you posted in the preceding step Accounts and Explanation Credit Date May 17 Post. Ref. (25) (26) Debit 2,000 Accounts Receivable Service Revenue Performed services on account 2.000 May 19: Paid rent expense for the month, $1,000. CASH Account No. 110 Balance Debit Credit Date Post. Ref. Debit Credit 100,000 56.000 May 1 May 4 May 6 May 9 May 19 100,000 44,000 46.600 46,140 2.600 460 (27) RENT EXPENSE Account No. 510 Balance Date Post. Ref. Debit Credit Debit Credit May 19 (28) Select the posting references in the journal for the transaction you posted in the preceding stop. Date Accounts and Explanation Post. Ref. Debit Credit Print May 19 1,000 Rent Expense Cash Paid cash expenses. (29) (30) 1,000 May 20: Received $2,100 from customers for services to be performed next month. CASH Account No. 110 Balance Date Post. Ref. Debit Credit Debit Credit 100,000 56.000 2,600 May 1 May 4 Muy B May 9 May 19 May 20 100,000 44,000 46,600 46,140 45,140 450 1.000 (31) UNEARNED REVENUE Account No. 220 Balance Date Post. Ref. Debit Credit Debit Credit May 20 Credit Select the posting references in the journal for the transaction you posted in the preceding step. Date Accounts and Explanation Post. Ref. May 20 Cash (33) Unearned Revenue (34) Collected cash for future services. Debit 2,100 2,100 May 21: Paid $900 for advertising in next month's IT Technology magazine. Print CASH Account No. 110 Balance Date Post. Ref. Debit Credit Debit Credit 100,000 56,000 2,600 May 1 May 4 May 6 May 9 May 19 May 20 May 21 100,000 44,000 46,600 46,140 45,140 47.240 460 1.000 (35) PREPAID ADVERTISING Account No. 140 Balance Date Post. Ref. Debit Credit Debit Credit May 21 (36) Credit Select the posting references in the journal for the transaction you posted in the preceding step. Date Accounts and Explanation Post. Ref. May 21 Prepaid Advertising (37) Cash (38) Paid advertising in advance. Debit 900 900 May 23: Received $1,800 cash on account from a customer. Print Print CASH Account No. 110 Balance Date Item Post. Ref. Debit Credit Debit Credit 100,000 56.000 2,600 460 May 1 May 4 May 6 May 9 May 19 May 20 May 21 May 23 100,000 44,000 46,600 46,140 45.140 47,240 46,340 1,000 2,100 900 ACCOUNTS RECEIVABLE Account No. 120 Balance Date Item Post. Ref Debit Credit Debit Credit 2,000 2,000 May 17 May 23 J10 (40) Select the posting references in the journal for the transaction you posted in the preceding step. Date Accounts and Explanation Post. Ref. Credit Debit 1.600 May 23 (41) Cash Accounts Receivable Received cash on account (42) 1,600 May 31: Paid salaries, $1,400. Print CASH Account No. 110 Balance Date Post. Ref. Debit Credit Debit Credit 100,000 56,000 2,600 May 1 May 4 May 6 May 9 May 19 May 20 May 21 May 23 May 31 460 1.000 100.000 44,000 46,600 46,140 45.140 47.240 46,340 47.940 900 ,600 SALARIES EXPENSE Account No. 520 Balance Date Post. Ref. Debit Credit Debit Credit May 31 (44) Select the posting references in the journal for the transaction you posted in the preceding step. Date Accounts and Explanation Post. Ret. Debit Credit May 31 1,400 Salaries Expense Cash Paid cash expenses. 1.400 7: More Info Print May 1 The business received cash of $100,000 and issued common stock to Zachary Watson. 2 Purchased office supplies on account, $760. 4 Paid $56,000 cash for building and land. The building had a fair market value of $44,000. 6 Performed services for customers and received cash, $2,600. 9 Paid $460 on accounts payable. 17 Performed services for customers on account, $2,000. 19 Paid rent expense for the month, $1,000. 20 Received $2,100 from customers for services to be performed next month. 21 Paid $900 for advertising in next month's IT Technology magazine. 23 Received $1,600 cash on account from a customer. 31 Incurred and paid salarios, $1,400. 8: Reference Date Debit Credit May 1 100,000 100,000 May 2 Accounts and Explanation Cash Common Stock Issued common stock in exchange for cashi. Office Supplies Accounts Payable Purchased office supplies on account Building Land 760 760 May 4 44,000 12,000 Cash 56,000 May 6 2,600 2,600 Paid cash for building and land. Cash Service Revenue Performed services and received cash. Accounts Payable Cash Paid cash on account. May 9 460 May 17 2.000 Accounts Receivable Service Revenue Print 2.000 May 19 1,000 1,000 May 20 2,100 2,100 May 21 900 Performed services on account Rent Expense Cash Paid cash expenses. Cash Unearried Revenue Collected cash for future services, Prepaid Advertising Cash Paid advertising in advance. Cash Accounts Receivable Received cash on account Salaries Expense Cash Paid cash expenses. 900 May 23 1,600 1,600 May 31 1,400 1,400 9: Requirement The following four-column accounts have been opened for you and utilize the following account numbers: Cash, 110; Accounts Receivable, 120: Office Supplies, 130; Prepaid Advertising, 140, Land, 150; Building, 160: Accounts Payable, 210, Unearned Revenue, 220; Common Stock, 310; Service Revenue, 410; Rent Expense, 510; and Salaries Expense, 520. Post the journal entries to the four-column accounts and determine the balance in the account after each transaction. Assume that the journal entries were recorded on page 10 of the journal. Make sure to complete the Post. Ref. columns in the joumal and ledger. (2) O (3) O 520 520 520 (1) O O 110 OJ10 310 J10 O 110 120 130 140 150 160 210 220 310 410 510 (4) O O 110 120 130 O 140 220 150 310 160 410 210 0510 (5) O (6) O 0 1300 J10 (7) O 2100 J10 110 120 130 O 140 220 150 0 310 160 410 210 0510 (8) 520 (10) (11) O 520 (13) O 520 140 150 160 210 220 310 410 510 90 0110 J10 O 110 120 130 150 J10 (12) O 0 160 J10 110 O 140 150 220 310 180 04 O 140 150 160 210 110 120 130 0 120 220 310 410 510 130 210 510 0 520 (15) o o 110 O 520 Print o O 140 0 220 110 O 150 O 310 120 160 0410 130 0210 O510 (16) o O410 OJ10 (17) O O 140 0 220 110 O 150 0310 120 160 0410 130 0210 O510 (18) O O 140 0 220 0 520 110 150 0310 120 160 0410 130 210 O510 (19) o o110 10 (20) 0 210 10 OJ10 (21) O O 140 0 220 O 520 110 O 150 0310 120 160 0410 130 0 210 0 510 O 520 (22) O O 140 O 220 O 520 o110 150 0310 120 160 0410 130 0 210 O510 (23) O 0 120 OJ10 (24) o O410 OJ10 (25) O O 140 220 110 O 150 0310 120 160 O 410 130 0 210 0510 (26) O O 140 220 O 520 110 O 150 0310 120 160 0410 130 0 210 O510 (27) o 110 (28) o 510 OJ10 (29) O O 140 0 220 0 520 110 O 150 10 120 160 0410 130 210 0510 (30) O O 140 0 220 0 520 110 O 150 0310 120 160 0 410 130 0 210 O 510 (31) o o 110 OJ10 (32) o O 220 OJ10 (33) O O 140 0 220 0 520 110 O 150 10 O 120 160 410 o 130 210 0510 OJ10 (34) O O 140 0 220 0 520 o 110 O 150 O 310 120 160 0410 130 210 0 510 (35) o 110 OJ10 (36) O 140 OJ10 (37) O O 140 0 220 O 520 110 O 150 0310 120 160 0410 o 130 0 210 o 510 (38) O O 140 0 220 O 520 110 O 150 O 310 120 160 0410 130 0 210 O510 (39) 110 OJ10 (40) 120 OJ10 O 520 (41) O O 140 0 220 0 520 0110 O 150 0310 120 160 O 410 o 130 0 210 O510 (42) O O 140 0 220 O 520 110 O 150 10 120 160 0410 o 130 0 210 O510 (43) o 110 OJ10 (44) o 520 10 (45) O O 140 0 220 0 520 0110 O 150 0310 O 120 160 0410 130 0 210 O 510 (46) O O 140 0 220 110 150 O 310 120 160 0410 o 130 0 210 0510 Print 5. The following transactions occurred for Watson Technology Solutions: (Click the icon to view the transactions.) Click the icon to view the journal entries.) Read the requirement (Compute the new balance for each account after posting the transaction.) May 1: The business received cash of $100.000 and issued common stock to Zachary Watson CASH Account No. 110 Balance Date Post. Ref. Debit Credit Debit Credit May 1 COMMON STOCK Account No. 310 Balance Date Item Post. Ref. Debit Credit Debit Credit May 1 Select the posting references in the journal for the transaction you posted in the preceding step. Date Accounts and Explanation Post. Ref. Deblt Credit May 1 Cash (3) 100,000 Common Stock 100,000 Issued common stock in exchange for cash. May 2: Purchased office supplies on account, $760. OFFICE SUPPLIES Account No. 130 Balance Date Post. Ref. Debit Credit Debit Credit May 2 ACCOUNTS PAYABLE Print Print Account No. 210 Balance Date Post. Ref | Debit Credit Debit Credit May 2 Select the posting references in the journal for the transaction you posted in the preceding stop. Date Accounts and Explanation Post. Ref. Debit Credit May 2 760 Office Supplies Accounts Payable Purchased office supplies on account. (8) 760 May 4: Paid $56,000 cash for building and land. The building was valued at $44,000. CASH Account No. 110 Balance Debit Credit Date Post. Ref. Debit Credit 100,000 100,000 May 1 May 4 J10 (9) LAND Account No. 150 Balance Date Post. Ref. Debit Credit Debit Credit May 4 (10) BUILDING Account No. 160 Balance Date Post. Ref. Debit Credit Debit Credit May 4 Print Print Select the posting references in the journal for the transaction you posted in the preceding step. Date Accounts and Explanation Post. Ref. Debit Credit May 4 (12) Building Land 44,000 12,000 (13) 56.000 Cash Paid cash for building and land. May 6: Performed services for customers and received cash, $2,600. CASH Account No. 110 Balance Date Post. Ref. Debit Credit Debit Credit 100,000 May 1 May 4 May 6 100.000 44,000 56,000 J10 (15) SERVICE REVENUE Account No. 410 Balance Debit Credit Date Post. Ref. Debit Credit May 6 Credit Select the posting references in the journal for the transaction you posted in the precoding step. Date Accounts and Explanation Post. Ref. Debit May 6 Cash 2,600 Service Revenue Performed services and received cash. (177 2,600 May 9: Paid $460 on accounts payable. Print CASH Account No. 110 Balance Date Item Post. Ref. Debit Credit Debit Credit J10 100,000 J10 56,000 May 1 May 4 May 6 May 9 100,000 44,000 46,600 2,600 J10 (19) ACCOUNTS PAYABLE Account No. 210 Balance Date Post. Ref. Debit Credit Debit Credit J10 May 2 May 9 (20) 460 Select the posting references in the journal for the transaction you posted in the preceding step. Date Accounts and Explanation Post. Ref. Debit Credit May 9 Accounts Payable (21) 460 Cash (22) Paid cash on account. May 17: Performed services for customers on account, $2,000. ACCOUNTS RECEIVABLE Account No. 120 Balance Date Post. Ref. Debit Credit Debit Credit May 17 SERVICE REVENUE Print Account No. 410 Balance Debit Credit Date Item Post. Ref. Debit Credit J10 2,600 2.600 May 6 May 17 (24 Select the posting references in the journal for the transaction you posted in the preceding step Accounts and Explanation Credit Date May 17 Post. Ref. (25) (26) Debit 2,000 Accounts Receivable Service Revenue Performed services on account 2.000 May 19: Paid rent expense for the month, $1,000. CASH Account No. 110 Balance Debit Credit Date Post. Ref. Debit Credit 100,000 56.000 May 1 May 4 May 6 May 9 May 19 100,000 44,000 46.600 46,140 2.600 460 (27) RENT EXPENSE Account No. 510 Balance Date Post. Ref. Debit Credit Debit Credit May 19 (28) Select the posting references in the journal for the transaction you posted in the preceding stop. Date Accounts and Explanation Post. Ref. Debit Credit Print May 19 1,000 Rent Expense Cash Paid cash expenses. (29) (30) 1,000 May 20: Received $2,100 from customers for services to be performed next month. CASH Account No. 110 Balance Date Post. Ref. Debit Credit Debit Credit 100,000 56.000 2,600 May 1 May 4 Muy B May 9 May 19 May 20 100,000 44,000 46,600 46,140 45,140 450 1.000 (31) UNEARNED REVENUE Account No. 220 Balance Date Post. Ref. Debit Credit Debit Credit May 20 Credit Select the posting references in the journal for the transaction you posted in the preceding step. Date Accounts and Explanation Post. Ref. May 20 Cash (33) Unearned Revenue (34) Collected cash for future services. Debit 2,100 2,100 May 21: Paid $900 for advertising in next month's IT Technology magazine. Print CASH Account No. 110 Balance Date Post. Ref. Debit Credit Debit Credit 100,000 56,000 2,600 May 1 May 4 May 6 May 9 May 19 May 20 May 21 100,000 44,000 46,600 46,140 45,140 47.240 460 1.000 (35) PREPAID ADVERTISING Account No. 140 Balance Date Post. Ref. Debit Credit Debit Credit May 21 (36) Credit Select the posting references in the journal for the transaction you posted in the preceding step. Date Accounts and Explanation Post. Ref. May 21 Prepaid Advertising (37) Cash (38) Paid advertising in advance. Debit 900 900 May 23: Received $1,800 cash on account from a customer. Print Print CASH Account No. 110 Balance Date Item Post. Ref. Debit Credit Debit Credit 100,000 56.000 2,600 460 May 1 May 4 May 6 May 9 May 19 May 20 May 21 May 23 100,000 44,000 46,600 46,140 45.140 47,240 46,340 1,000 2,100 900 ACCOUNTS RECEIVABLE Account No. 120 Balance Date Item Post. Ref Debit Credit Debit Credit 2,000 2,000 May 17 May 23 J10 (40) Select the posting references in the journal for the transaction you posted in the preceding step. Date Accounts and Explanation Post. Ref. Credit Debit 1.600 May 23 (41) Cash Accounts Receivable Received cash on account (42) 1,600 May 31: Paid salaries, $1,400. Print CASH Account No. 110 Balance Date Post. Ref. Debit Credit Debit Credit 100,000 56,000 2,600 May 1 May 4 May 6 May 9 May 19 May 20 May 21 May 23 May 31 460 1.000 100.000 44,000 46,600 46,140 45.140 47.240 46,340 47.940 900 ,600 SALARIES EXPENSE Account No. 520 Balance Date Post. Ref. Debit Credit Debit Credit May 31 (44) Select the posting references in the journal for the transaction you posted in the preceding step. Date Accounts and Explanation Post. Ret. Debit Credit May 31 1,400 Salaries Expense Cash Paid cash expenses. 1.400 7: More Info Print May 1 The business received cash of $100,000 and issued common stock to Zachary Watson. 2 Purchased office supplies on account, $760. 4 Paid $56,000 cash for building and land. The building had a fair market value of $44,000. 6 Performed services for customers and received cash, $2,600. 9 Paid $460 on accounts payable. 17 Performed services for customers on account, $2,000. 19 Paid rent expense for the month, $1,000. 20 Received $2,100 from customers for services to be performed next month. 21 Paid $900 for advertising in next month's IT Technology magazine. 23 Received $1,600 cash on account from a customer. 31 Incurred and paid salarios, $1,400. 8: Reference Date Debit Credit May 1 100,000 100,000 May 2 Accounts and Explanation Cash Common Stock Issued common stock in exchange for cashi. Office Supplies Accounts Payable Purchased office supplies on account Building Land 760 760 May 4 44,000 12,000 Cash 56,000 May 6 2,600 2,600 Paid cash for building and land. Cash Service Revenue Performed services and received cash. Accounts Payable Cash Paid cash on account. May 9 460 May 17 2.000 Accounts Receivable Service Revenue Print 2.000 May 19 1,000 1,000 May 20 2,100 2,100 May 21 900 Performed services on account Rent Expense Cash Paid cash expenses. Cash Unearried Revenue Collected cash for future services, Prepaid Advertising Cash Paid advertising in advance. Cash Accounts Receivable Received cash on account Salaries Expense Cash Paid cash expenses. 900 May 23 1,600 1,600 May 31 1,400 1,400 9: Requirement The following four-column accounts have been opened for you and utilize the following account numbers: Cash, 110; Accounts Receivable, 120: Office Supplies, 130; Prepaid Advertising, 140, Land, 150; Building, 160: Accounts Payable, 210, Unearned Revenue, 220; Common Stock, 310; Service Revenue, 410; Rent Expense, 510; and Salaries Expense, 520. Post the journal entries to the four-column accounts and determine the balance in the account after each transaction. Assume that the journal entries were recorded on page 10 of the journal. Make sure to complete the Post. Ref. columns in the joumal and ledger. (2) O (3) O 520 520 520 (1) O O 110 OJ10 310 J10 O 110 120 130 140 150 160 210 220 310 410 510 (4) O O 110 120 130 O 140 220 150 310 160 410 210 0510 (5) O (6) O 0 1300 J10 (7) O 2100 J10 110 120 130 O 140 220 150 0 310 160 410 210 0510 (8) 520 (10) (11) O 520 (13) O 520 140 150 160 210 220 310 410 510 90 0110 J10 O 110 120 130 150 J10 (12) O 0 160 J10 110 O 140 150 220 310 180 04 O 140 150 160 210 110 120 130 0 120 220 310 410 510 130 210 510 0 520 (15) o o 110 O 520 Print o O 140 0 220 110 O 150 O 310 120 160 0410 130 0210 O510 (16) o O410 OJ10 (17) O O 140 0 220 110 O 150 0310 120 160 0410 130 0210 O510 (18) O O 140 0 220 0 520 110 150 0310 120 160 0410 130 210 O510 (19) o o110 10 (20) 0 210 10 OJ10 (21) O O 140 0 220 O 520 110 O 150 0310 120 160 0410 130 0 210 0 510 O 520 (22) O O 140 O 220 O 520 o110 150 0310 120 160 0410 130 0 210 O510 (23) O 0 120 OJ10 (24) o O410 OJ10 (25) O O 140 220 110 O 150 0310 120 160 O 410 130 0 210 0510 (26) O O 140 220 O 520 110 O 150 0310 120 160 0410 130 0 210 O510 (27) o 110 (28) o 510 OJ10 (29) O O 140 0 220 0 520 110 O 150 10 120 160 0410 130 210 0510 (30) O O 140 0 220 0 520 110 O 150 0310 120 160 0 410 130 0 210 O 510 (31) o o 110 OJ10 (32) o O 220 OJ10 (33) O O 140 0 220 0 520 110 O 150 10 O 120 160 410 o 130 210 0510 OJ10 (34) O O 140 0 220 0 520 o 110 O 150 O 310 120 160 0410 130 210 0 510 (35) o 110 OJ10 (36) O 140 OJ10 (37) O O 140 0 220 O 520 110 O 150 0310 120 160 0410 o 130 0 210 o 510 (38) O O 140 0 220 O 520 110 O 150 O 310 120 160 0410 130 0 210 O510 (39) 110 OJ10 (40) 120 OJ10 O 520 (41) O O 140 0 220 0 520 0110 O 150 0310 120 160 O 410 o 130 0 210 O510 (42) O O 140 0 220 O 520 110 O 150 10 120 160 0410 o 130 0 210 O510 (43) o 110 OJ10 (44) o 520 10 (45) O O 140 0 220 0 520 0110 O 150 0310 O 120 160 0410 130 0 210 O 510 (46) O O 140 0 220 110 150 O 310 120 160 0410 o 130 0 210 0510