Name

Section
Date

(a) General Journal

Trans. Account Titles Ref. Debit

1 1. Cash $ 40,000
2 Owner's Capital
3 (Invested cash in business)
4 2. No entry
5 (Isn't financial transaction )
6 3. Prepaid Rent $ 24,000
7 Cash
8 (Paid cash in Advance for rent for 2 years)
9 4. Furniture and Equipment $ 30,000
10 Cash
11 Accounts Payable
12 (Buy Furniture and Equipment by paying cash an on account)
13 5. Prepaid Insurance $ 1,800
14 Cash
15 (Prepaid Insurance policy on the furniture for one year)
16 6. Office supplies $ 420
17 Cash
18 (Purchase office supplies in cash)
19 7. Office supplies $ 1,500
20 Accounts Payable
21 (Purchase office supplies in cash)
22 8. Cash $ 8,000
23 Accounts Receivable $ 12,000
24 Service Revenue
25 (Revenue earned for cash and on account)
26 9. Notes Payable $ 400
27 Cash
28 (Paid supplies for account payable due)
29 10. Cash $ 3,000
30 Account Receivable
31 (Received cash from customer)
32 11. Utility Expense $ 380
33 Cash
34 (Utilities Bills)
35 12. Salaries Expense $ 6,100
36 Cash
37 (Paid salary for employees)
38
39 Balance $ 127,600
40
 Problem 2-3A

Maquoketa Services

Credit
1
$ 40,000 2
3
4
5
6
$ 24,000 7
8
9
$ 10,000 10
$ 20,000 11
12
13
$ 1,800 14
15
16
$ 420 17
18
19
$ 1,500 20
21
22
23
$ 20,000 24
25
26
$ 400 27
28
29
$ 3,000 30
31
32
$ 380 33
34
35
$ 6,100 36
37
38
$ 127,600 39
40
Name Problem 2-3A C
Section
Date

(b)
Cash Accounts Payable
May, 1 $40,000 May, 4 $20,000
3 $24,000 7 $1,500
4 $10,000 9 $400
5 $1,800 11 $380
6 $420 Closing Balance $21,480
8 $8,000
9 $400
10 $3,000
11 $380
12 $6,100
Closing Balance $8,280 Owner's Capital
Accounts Receivable May, 1 $40,000
May, 8 $12,000
10 $3,000 $40,000
Closing Balance $9,000 Service Revenue
Supplies May, 8 $20,000
May, 6 $420
7 $1,500 $20,000
Salaries and Wages Expense
Closing Balance $1,920 May, 12 $6,100
Prepaid Insurance
May, 5 $1,800 $6,100
Utilities Expense
Closing Balance $1,800 May, 11 $380
Prepaid Rent
May, 3 $ 24,000 $380

Closing Balance $ 24,000.00

Equipment
May, 5 $30,000

Closing Balance $30,000

 Problem 2-3A Continued

Maquoketa Services

ayable

apital

venue

ges Expense

pense
Name Problem 2-3A Concluded
Section
Date Maquoketa Services

(c)
Maquoketa Services
Trial Balance
May 31, 2020
Debit Credit
1 Cash $8,280 1
2 Accounts Receivable $9,000 2
3 Supplies $1,920 3
4 Prepaid Insurance $1,800 4
5 Prepaid Rent $24,000 5
6 Equipment $30,000 6
7 Accounts Payable $19,980 7
8 Supplies Payable $1,500 8
9 Salaries and Wages Payable $6,100 9
10 Owners Capital $40,000 10
11 Service Revenue $20,000 11
12 Salaries and Wages Expense 12
13 Insurance Expense 13
14 Utilities Expense $380 14
15 15
16 16
17 17
18 18
19 19
20 20
21 21
22 22
23 23
24 24
25 25
26 26
27 27
28 28
29 29
30 30
31 31
32 32
33 33
34 34
35 35
Name Problem 2-4A
Section
Date Sergei Asbrecht Co.

Sergei Asbrecht Co. Sergei Asbre

Trial Balance Correct Tria
June 30, 2020 June 30,
Debit Credit
1 Cash $ 3,140 1 Cash
2 Account Receivable $ 2,812 2 Account Receivable
3 Supplies 1200 3 Supplies
4 Equipment 2600 4 Equipment
5 Account Payable 3666 5 Account Payable
6 Unearned Service Revenue 1100 6 Unearned Service Revenue
7 Owner's Capital 8000 7 Owner's Capital
8 Owner's Drawing 800 8 Owner's Drawing
9 Service Revenue 2480 9 Service Revenue
10 Salaries and Wages Expense 3200 10 Salaries and Wages Expense
11 Utilities Expense 810 11 Utilities Expense
12 12
13 $ 12,522 $ 17,286 13
14 14
15 15
16 Journal Entry Aids: 16
17 1 Account Receivable $ 270 17
18 Cash $ 270 18
19 19
20 2 Equipment $ 710 20
21 Supplies $ 710 21
22 22
23 3 Service Revenue $ 98 23
24 Account Receivable $ 980 24
25 Account Receivable $ 980 25
26 Service Revenue $ 980 26
27 27
28 4 Salaries and Wages $ 900 28
29 29
30 30
31 5 Account Payable $ 666 31
32 32
33 33
34 6 Owner's Drawing $ 600 34
35 Salaries and Wag $ 600 35
36 36
37 37
38 38
39 39
40 40
 Sergei Asbrecht Co.
Correct Trial Balance
June 30, 2020
Debit Credit
Cash 2870
Account Receivable 3082
Supplies 490
Equipment 3310
Account Payable 3000
Unearned Service Revenue 1100
Owner's Capital 8000
Owner's Drawing 1400
Service Revenue 3362
Salaries and Wages Expense 3500
Utilities Expense 810

$ 15,462 $ 15,462