Questions

Explain the events that probably gave rise to journal entries $1$ through $8$ of Exhibit $1.$

Set up a ledger account $($in T account form$)$ for each account named in the general joumal.

Post entries $1$ through $8$ to these accounts, using the entry number as a cross$-$reference.

Analyze the facts listed as $9$ through $20,$ resolving them into their debit and credit elements.

Prepare journal entries and post them to the ledger accounts.

Prepare an income statement for September and a balance sheet as of September $30.$

Wages Payable

$16$

Bank Loan Payable PC DEPOT, Trial Balance as of September $30$

$\backslash$table$[[$PC DEPOT, Trial Balance as of September $30,],[$Cash$,$Debit,Credit$],[$Equipment$,,],[$Accounts Receivable,,$],[$Merchandise Inventory,,$],[$Prepaid Rent,,$],[$Cost of Goods Sold,,$],[$Rent Expenses,,$],[$Advertising Expense,,$],[$Wages Expense,,$],[$Office Supplies Expense,,$],[$Utilities Expense,,$],[$Insurance Expense,,$],[$Accounts Payable,,$],[$Wages Payable,,$],[$Bank Loan Payable,,$],[$Equity Share Capital,,$],[$Sales$,,],[,,]]$Question $7($HW$)($Use excel shent$)$

PC Depot was a retail store for personal computers and hand$-$held calculators, selling several

national brands in each product line. The store was opened in early September by Barbara

Thompson, a young woman previously employed in direct computer sales for a national firm

specializing in business computers. Thompson knew the importance of adequate records. One of

her first decisions, therefore, was to hire Chris Jarrard, a local accountant, to set up her

bookkeeping system. Jarrard wrote up the store's preopening financial transactions in journal form

to serve as an example

Thompson agreed to write up the remainder of the store's September financial transactions for

Jarrard's later review. At the end of September, Thompson had the following items to record: