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The chart of accounts and the post-closing trial balance as of September 30, 2023 are given. For each account in the post-closing trial balance, enter
The chart of accounts and the post-closing trial balance as of September 30, 2023 are given. For each account in the post-closing trial balance, enter the balance in the appropriate Balance column of the General Ledger. Date the balances October 1, 2023, and place a check mark ( ) in the Posting Reference column. Journalize each of the October transactions in the journal provided using Target Companys chart of accounts. (Do not insert the account numbers in the journal at this time). Post the journal to the ledger. (Remember to enter Post References) Prepare an unadjusted trial balance. At the end of October, the following adjustment data was assembled. Use the data to complete instructions ( 5 ) and ( 6 ): Supplies on hand were $2,000 Rent expired during the month $1,800 Unearned fees at the end of the month was $2,500 Insurance expired during the month was $450 Accrued salaries payable were $320 Depreciation on equipment during the month was $475 Optional: Enter the unadjusted trial balance on an end-of-period spreadsheet/worksheet and complete the worksheet as you continue with the project. Journalize and post adjusting entries. Prepare an adjusted trial balance. Create the closing journal entries and post them to the ledgers. Indicate closed accounts in the ledger by inserting a line in both of the Balance columns opposite each closing entry. Prepare an Income Statement, Statement of Owners Equity, and Balance Sheet. (Remember to use correct headings) Prepare the post-closing trial balance for October 31, 2023. Target: Chart of Accounts 11Cash 12Accounts Receivable 14Supplies 15Prepaid Rent 16Prepaid Insurance 18Office Equipment 19Accumulated Depreciation 21Accounts Payable 22Salaries Payable 23Unearned Fees 31T. Arget, Capital 32T. Arget, Drawing 41Fees Earned 51Salary Expense 52Rent Expense 53Supplies Expense 54Depreciation Expense 55Insurance Expense 59Miscellaneous Expense Target Co. Post Closing Trial Balance September 30, 2023 DEBITCREDIT Cash 21,300 Accounts Receivable 5,200 Supplies 1,750 Prepaid Rent 3,400 Prepaid Insurance 1,800 Office Equipment 12,500 Accumulated Depreciation 475 Accounts Payable 500 Salaries Payable 400 Unearned Fees 1,000 T. Arget, Capital 43,575 45,950 45,950 Target had the following transactions occurred in October 2023: Oct 1Received $8,800 cash for fees earned for jobs completed. 1Received cash from clients on account, $1,250. 2Paid three months rent on a lease on storage unit, $5,400. 2 Paid September electricity bill, $775. 5Purchased supplies on account, $3,250. 6 Paid $1,600 technician salary, including the amount owed at the end of September. 8Billed customers for services provided on account $9,200. 9Paid $3,000 on account. 10Paid cash for advertising $350. 12Received cash from customers as an advance payment for services to be provided in the future and recorded as unearned fees, $8,000. 14Received cash from customers on account, $2,500. 17Paid cash for supplies, $275. 19Billed customers for services provided on account, $5,800 20Paid technician salary, $1,600. 24Received $22,500 cash for fees earned for jobs completed. Paid phone bill for the month, $620. Received cash from customers on account, $12,000. 28Billed customers for services provided on account, $9,750
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