Question

Entries into T accounts and Trial Balance ken Jones, an architect, organized Jones Architects on April 1, 20Y2. During the month, Jones Architects completed the following transactions: a. Transferred cash from a personal bank account to an account to be used for the business in exchange for Common Stock, $52,200. b. Purchased used automobile for $34,000, paying $7,800 cash and giving a note payable for the remainder. c. Paid April rent for office and workroom, $5,200 d. Paid cash for supplies, $2,510. e. Purchased office and computer equipment on account, $10,400. f. Paid cash for annual insurance policies on automobile and equipment, $3,500. g. Received cash from a dlient for plans delivered, $13,100 . Paid cash to creditors on account, $3,030 i. Paid cash for miscellaneous expenses, $375 j. Received invoice for blueprint service, due in May, $1,700. corded fees earned on plans delivered, payment to be received in May, $9,000. L. Paid salary of assistant, $2,800 m. Paid cash for miscellaneous expenses, $1.410. n. Paid installment due on note payable, $420. o. Paid gas, oil, and repairs on automobile for April, $680. Required in the following T accounts, without journalizing: Cash, Accounts Receivable, Supplies, Prepaid Insurance, Automobiles, E ry Expense, Blueprint Expense, Automobile Expense, Miscellaneous Expense. To the left of each amount entered in the accounts, select the appropriat accounts, without journalizing 1. Record the above transactions (in chronological order) directly Professional Fees, Rent Expense, Salar Accounts containing a single entry only (such as Prepaid Insurance) do not need a balance. Determine account balances of the T accounts. enow.com/lrn/takeAssignment/takeAssignmentMain.do?invoker-assignments CengageNOWv21OnlineX Calculator Book Bal Common Stock Professional Fees Bal Rent Expense Salary Expense Blueprint Expense Automobile Expense Miscellaneous Expense enow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker-assignmer CengageNOWv2I Online x Calculator ook Miscellaneous Expense al ● Prepare an unadjusted trial balance for Jones Architects as of April 30, 2012. List all accoun Jones Architects Unadjusted Trial Balance Debit Balances Credit Balances the net income or net loss for April.

Answer 1

1.

Cash
a.	52,200	b.	7,800
g.	13,100	c.	5,200
		d.	2,510
		f.	3,500
		h.	3,030
		i.	375
		l.	2,800
		m.	1,410
		n.	420
		o.	680
Balance, April 30	37,575

Accounts Receivable
k.	9,000
Balance, April 30	9,000

Supplies
d.	2,510
Balance, April 30	2,510

Prepaid Insurance
f.	3,500
Balance, April 30	3,500

Automobile
b.	34,000
Balance, April 30	34,000

Equipment
e.	10,400
Balance, April, 30	10,400

Accounts Payable
h.	3,030	e.	10,400
		j.	1,700
		Balance, April 30	9,070

Notes Payable
n.	420	b.	26,200
		Balance, April 30	25,780

Common Stock
		a.	52,200
		Balance, April 30	52,200

Professional Fees
		g.	13,100
		k.	9,000
			22,100

Rent Expense
c.	5,200

Salary Expense
l.	2,800

Blueprint Expense
j	1,700

Automobile Expense
o	680

Miscellaneous Expense
i.	375
m	1,410
	1,785

2.

Jones Architects Unadjusted Trial Balance April 30, 20Y2
Account Titles	Debit	Credit
	$	$
Cash	37,575
Accounts Receivable	9,000
Supplies	2,510
Prepaid Insurance	3,500
Automobile	34,000
Equipment	10,400
Accounts Payable		9,070
Notes Payable		25,780
Common Stock		52,200
Professional Fees		22,100
Rent Expense	5,200
Salary Expense	2,800
Blueprint Expense	1,700
Automobile Expense	680
Miscellaneous Expense	1,785
Totals	$ 109,150	$ 109,150