Question

P2-32A Journalizing transactions, posting journal entries to four-column accounts, and preparing a trial balance The trial balance of Shawn Merry, CPA, is dated March 31,2018: Do SHAWN MERRY CPA Trial Balance March 31. 2018 Salance Credit Debit 11,000 16,500 Acceunt Title Accounts Receivable Office Supplies Land Furniture Automobile Accounts Payable Unearned Revenue Merry, Capital Merry, Withdrawals Service Revenue Salaries Expense Rent Expense Total 400 30,000 s 3,800 52,300 8,200 5,600 800 64,300 64,300 During April, the business completed the following transactions: Apr. 4 Collected $2,500 cash from a client on account. 8 Performed tax services for a dlient on account, $5,400. 13 Paid $3,000 on account. 14 Purchased furniture on account, $3,600. 15 Merry contributed his personal automobile to the business in exchange for capital. The automobile had a market value of $9,500. 18 Purchased office supplies on account, $900 19 Received $2,700 for tax services performed on April 8. 20 Merry withdrew cash of $6,500. 21 Received $5,700 cash for consulting work completed. 24 Received $2,400 cash for accounting services to be completed next 27 Paid office rent, $600. 28 Paid employee salary. $1,700. month.

Answer 1

Journal entries:

Apr. 27 Rent expense 600 Cash 600 Apr. 28 Salaries expense 1,700 Cash 1,700

Posting entries to Four column accounts

Cash Apr. 1, bal $11,000 Apr. 13 3,000 Apr.4 Apr. 19 $ 2,700Apr. 27 Apr. 21$5,700 Apr. 28$1.700 Apr. 24 $2,400 Apr.30, Bal 12,500 2,500 Apr. 20$6,500 $600 Accounts receivable Apr. 1, bal 16,500 Apr.4 Apr.8 Apr.30, Bal 16,700 $2,500 $5,400 Apr. 19 S2,700 Office Supplies Apr. 1, bal $400 Apr. 18 Apr.30, Bal$1,300 $900 Land Apr. 1, bal 30,000 Apr.30, Bal 30,000 Furniture Apr. 14 $3,600 Apr.30, Bal Š3,600

Trial balance

SHAWN MERRY, CPA Trial Balance March 31, 2018 Account title Debit balance Credit balance Cash Accounts receivable Office supplies Land Furniture Automobile Accounts payable Unearned revenue Merry, Capital Merry, Withdrawals Service revenue Salaries expense Rent expense Total 12,500 16,700 1,300 30,000 3,600 9,500 5,300 2,400 61,800 6,500 19,300 7,300 1,400 88,800 88,800