Question

Can someone help me on part 1

Course Madules: PV 2019 SUM X Practice Set: Module 01 Account Classificati x V 2019 SUMMR ACC111 Practice Set Instructio Practice Set James Regal, Esquire is an Attorney and has formed his own law fim, Regal Law Firm. You have been hired by James as his bookkeeper. After talking to James, you prepare his chart of accounts, which is below. Regal Law Firm Chart of Accounts Accoun Name Cash AGCOums Rccoiveble 201 Accounts Payabia Ren Cerit 20- 300 Ragal, Draing Rant Expanse Salancs Expanse Supplies Expenss The first month of business for the Regal Law Firm is March 2018. The transactions for the month of March are: Date Transaction James opened the bank account and deposited $5,000 for his capital contribution. 3/1/2018 James paid S250 for rent. 3/5/2018 James received $1,000 from a new client, Sue Barnes, as a deposit for legal services. 3/10/2018 James paid S375 of salaries to his legal assistant. 3/15/2018 James received a bill of $75 for office supplies which will be paid next month. 3/22/2018 James withdraw $1,000 for 3/30/2018 s personal use. Practice Set Part 1 Download Excel workbook and "Save as adding your last name to the end of the file. The assignment must be complete using Microsoft Excel. If it is not completed in Excel, your assignment may not be accepted. See the syllabus to downoad a free copy of Microsoft Excel. 1. Using the chart of accounts, open the accounts in the general ledger. 2. Record the journal entries include explanations the March transactions using General Joumal Page 1. Make sure that you 3. Post the entries to the general ledger 4. Calculate the balances in the general ledger accounts. 5. Prepare the Trial Balance Columns in the worksheet. Make sure you properly complete the heading. After completing the Trial Balance in Step 5, compare the balance you calculated with the check figure for the workbook to check by attaching it to a Canvas message.) Do not move on until your trial balance agrees ACC111 Practic....pdf Module 01 Ac....pdf Madule 01 Ac....pdf ACC111 Practic....xlsx ^ Show All ACC111 Practice Set Worksheets Q Search Sheet 2+ Share Home Insert Page Layout Formulas Data Review View ALtaSum A Cut General A A- Arial Et Wrap Text 10 Fill Copy u A B Conditional Fermat Formattirg Sort & Filter Paste Marge & Center Cell Styles Insert Deiete Forma Farmat Clear Table M19 A B D G J L N L General Journal Page 3Date Ret Apcounts and Explanantions Credt Debt 7 11 12 13 15 16 17 14 21 24 23 27 28 29 30 32 33 a4 .. 37 GJ Page 1 General Ledger Worksheet GJ Page 2 Financial Statements GJ Page 3 PC TB -+ 100 % Ready ACC111 Practice Set Worksheets Q- Search Sheet 2+ Share Home Insert Page Layout Formulas Data Review View ALtaSumA Cut General A AT Arial Et Wrap Text 10 Copy Fill Cll B E Conditional Fermat Formattirg Sort & Filter Peste I U Morge & Center Insert Delete Forma Farmat Clear Tabla Styles C40 D E General Ledger Account Account No Balance Desaiption T6e Debit Credit 7 10 11 13 Acout Account No Date Desciption Fot Debit Credi Balance 17 20 22 Acn Account No 24 Date Desriation Credi Ref Debit Balance 25 27 av 31 Aun Aucunt No Credt Date Desciption Debit Balance 14. 38 40 Auasunt Agcunt No 4 Date Debi Credi Descriation Balance 43 Accunt No 4 Acunt РС тв + GJ Page 1 General Ledger Worksheet GJ Page 2 Financial Statements GJ Page 3 Ready 100% ACC111 Practice Set Worksheets Q- Search Sheet 2+ Share Home Insert Page Layout Formulas Data Review View ALtaSumA Cut General A A- Arial Et Wrap Text 10 Copy Fill U A B Conditional Format Formattirg Sort & Filter Peste Morge & Center Cell Insert Deiste Forma Farmat Clear Table Styes H32 E H J P T Worksheet Adiuated Trial Balens Iecome Statement 4 Trial Balanoe Aciustmanto Balance Sheet Debit Credt Credi Apcount Names Dabt Credit Debt Debh Crede Dobb Cedh 10 11 14 19 Net Income zo Total 23 26 27 31 36 39 42 GJ Page 1 General Ledger Worksheet GJ Page 2 Financial Statements GJ Page S PC TB Ready 100%

Answer 1

debit credit Accounts Date 03-01-18 Cash 5000 Regal Capital 5000 03-05-18 Rent expense 250 250 cash 03-10-18 Cash 1000 Unearned revenue 1000 Salaries expense 03-15-18 375 cash 375 Supplies Accounts payable 03-22-18 75 75 Regal Drawing 03-22-18 1000 Cash 1000

Regal Capital-301 debit Cash-101 Explanation 03-01-18 Introduction of capital 03-05-18 rent expense paid 03-10-18 Deposit for services salary paid drawings balance Explanation 03-01-18 Introduction of capital Date Date credit balance debit credit 5000 4750 5000 5000 5000 250 5750 1000 03-15-18 375 5375 03-22-18 4375 1000 Unearned revneue-202 balance 1000 Explanation 03-10-18 Deposit for legal services debit Date credit Supplies-103 1000 Explanation Office supplies on acount balance Date debit credit 03-22-18 75 75 Accounts payable-201 debit Explanation balance credit Date 03-22-18 Supplies on account 75 75 Rent expense-501 debit credit balance 250 Explanation 03-05-18 payment of rent Date 250 Salaries expense-502 debit Explanation credit balance Date 03-15-18 payment of salaries 375 375 Regal drawing-302 debit credit balance Explanation drawings Date 03-22-18 1000 1000

Unadjusted trial balance Cash 4375 Supplies Unearned revenue Accounts payable Regal capital Regal drawings Rent expense Salaries expense total 75 1000 75 5000 1000 250 375 6075 6075