Problems: Set B 93 II Recelved $1,200 cash advance from Bob Carow for an implant. Received $2,100 cash for dental services performed for Ryan Banks. Paid secretary-receptionist for the month $2,400. 20 0 30 Paid $2.200 to Jennings Company for accounts payable due. uses the following chart of accounts: No. 101 Cash, No. 112 Accounts Receivable, Supplies, No, 201 Accounts Payable, No. 209 Unearned Service Reventie, No. 311 no Stock N 400 Service Revenue, No. 726 Salaries and Wages Expense and 729 No. 126 Rent Expense. Instructions (a) Journalize the transactions (b) Post to the ledger accounts (e) Prepare a trial balance on April 30, 2015. Rent Trial balance totals $52,900 Hillsborough Services was formed on May 1, 2015. The following transactions took Journalize transactions, post place during the first month. Transactions on May 1: and prepare a trial balance LO 2. 4,6.7) 1. Stockholders invested $50,000 cash in exchange for common stock. 2. Hired two employees to work in the warehouse. They will each $2,800 per month 3. Signed a 2-year rental agreement on a warehouse: paid $24,000 cash in advance the first year. 4. Purchased furniture and equipment costing $28,000. A cash payment of $5,000 was made immediately, the remainder will be paid in 6 months S. Paid $2,640 cash for a one-year insurance policy on the furniture and equipment. Transactions during the remainder of the month: 6. Purchased basic office supplies for $750 cash. 7. Purchased more office supplies for $1,300 on account. 8. Total revenues were $18,000 -$6,000 cash and $12,000 on account. 9. Paid $400 to suppliers for accounts payable due. 10. Received $3,200 from customers in payment of accounts receivable. 11. Received utility bills in the amount of $260, to be paid next month. 12. Paid the monthly salaries of the two employees, totaling $5,600. Instructions (a) Prepare journal entries to record each of the events listed. (Omit explanations.) (b) Post the journal entries to T-accounts. (c) Prepare a trial balance as of May 31, 2015. P2-4B The trial balance of Zoop Co, shown below does not balance. ic) Trial balance totals $92,160 Prepare a correct trial belance. ZOOP CO Trial Balance June 30, 2015 Lo 7) Debit Cash Accounts Receivable Supplies $ 3,960 s 2,648 800 3,000 Accounts Payable Unearned Service Revenue Common Stock Dividends Service Revenue Salaries and Wages Expense3.400 Utilities Expense 2,200 9,000 800 2.367 $13,758 $17.993 normal balance per the general ledger An examination t Each of the listed accounts has a of the ledger and journal reveals the following errors
