Trial Balance June 01, 2023 B Title 0 Cash Accounts Receivable Allowance for Doubtful Accounts Merchandise Inventory Supplies Land Building Accumulated Depreciation/Building Equipment Accumulated Depreciation/Equipment. Equipment Accounts Payable Mortgage Payable Common Stock ($10 Par) Paid-in-Capital in Excess of Par Retained Earnings Totals *3,000 units costing $1.00 each. 1. 2. 3. 4. Debit 5. 62,000 45,500 3,000* 3,400 40,000 142,000 38,000 333,900 Superior issued 900 shares of its Common Stock for $21,000. Credit 1.500 Superior made the mortgage payment-$989.00 22,000 2917 During the month of June 2023, the following (summary) transactions occurred (Hint: use the number of the transaction as the date): 30,750 65,500 80,000 5,000 126,233 333,900 Superior purchased new business insurance costing $10,200 to cover June 01, 2023 to May 31, 2024. This will be paid quarterly. Superior paid the first quarter of $2,550. Superior sold an old computer that cost $850 for $550. (Depreciation on this computer was $85.) Superior purchased merchandise consisting of 9,000 units at a $1.20 per unit on account.

Durine the month of lune 2023, the followins tsummary tranactiont occurred / Hint use the number of the trancaction as the datet 1. Superior iswed 900 shares of its Common Siock for 521000. 2. Superior purchancd now bulness invurance costine $10.200 to cover lune 01, 2020 to May 31. 2084. This wall be pais quarterty. Superior paid the frut quarter of $2.550. 3. Superior made the martyge payment- 598900 4. Superior sold an old computrer that cout $350 for $590. Depreciation on this comoviar was Sa5] 5. Superior purchased merchandise comiuting of 9.000 units at a 51.20 per unit an account. During the month of kne 2023, the following turmmary trantsctions ocrumed Jint use the number af the tramaction as the da 1. Superior insued 900 shares of its Common Stock tor $21000 quartefy. Siperior paid the fint quanter of 52550. 3 Superior made tie morteage payment-5989.00 1. Superior purcha iyf merchandive consisting of 9.000 uniti at a $1.20 per unit on accoune 6. Superior collected 542,300 trom customen on accounc. 9. Superice purchaved supplies for $2250 an accound. 10. Siperior paid credisan an xcount $27.800 11. Superior nocelved 527000 for services to be pertormed from 6/1/10/31/2. 12. Superior pertormed services exmine $112.500 ise 300mas paid in Cachl. 13. Superior dedived the quarteny cah dividend of 5120 per share to be pald on haly 31.2023 14. Superior wrote aft the accoure of a delloquent dient for $500 15. Suptrior paid sularles and cther operating opontes in the amount of $44925, Daluries ave 539.2090 Instructiom: 1. Copx the Opening Trul Bulance into your fik. Poat the balances into the Cenerd Ledgrr Accounes. 2. Jeumalize the lune fransactiom. 3. Post the lune Tranuckions. Hint: Cultulate the endirg Buances wherv meded. 4. Prepare a new Trial Balance as of June 30,2022. 9. Superior purchased supplies for $2.250 on account. 10. Superior paid creditors on account $27,800. 11. Superior received $27,000 for services to be performed from 6/1/10/31/23. 12. Superior performed services earning $112,500, (\$8, 300 was paid in Cash): 13. Superior dedared the quarterly cash dividend of 51.20 per share to be paid on July 31,2023 . 14. Superior wrote off the account of a delinquent client for $500. 15. Superior pald salaries and other operating expenses in the amount of 544.925 . (Salaries are $39,200 ) Instructions: 1. Copy the Opening Tral Byance into your file. Post the balances into the General Ledger Accoilnts. 2. Journalize the June Transaction, 3. Post the lune Transactions. Hint: Calculate the ending Ralances where needed. 4. Prepare a new Trual Balance as of June 30,2023. Adjustment Data: A Services Pertomicd by unbllied- 53,900 . B One month of insurance has expired. C Supplies on hand total $2.150. D Accrue salaries for $4,400 E Superior estimates that 2 of the Accounts Recelvable will be uncellectible. F Depreciation on the Bulding is done with Straight -ine. (30 vears and $10,000 salvage value) G Depreciation on the Equipment is done with Straight-line (5 years and 53000 akve value) H Unearned Service Revenue of $21,900 is Not earned yet. Instructions: 5. Lournalize the adjusting entries. (Round al amourts to Whole Doliag). 6. Post the Adjusting Entries. (Hint: Calculate new balances where needed) 7. Prepare an Adjusted Trial Balance as of June 30,2023. 8. Journalize the Cosing Entries. (Hilint: Use your Adjusted Trial Plitance for the accounts and balances) The End 0