General Ledger3Prepare the Trail Balance from the General Ledger ending balances
INSTRUCTIONS2Post the entries to the General ledger
1Journal the following entries Cash TRIAL BALANCE
2Post the entries to the General ledger Ref Debit Credit Balance Equipment DRCR
3Prepare a Trial Balance 1 Ref Debit Credit Balance Cash -
4Prepare the Financial Statements 2 - 2 Equipment -
5 - 3 - Accts Rec -
1Janet Younger started a business using $100,000 of her own money. Younger opened a checking accounting and deposited all the funds there. 6 - - Supplies
2Wells purchased $5,000 of equipment and paid cash 7 - - Ppd Rent
3Wells purchased $6,000 more equipment on account. Office plus extended her credit for the new computer. 9 - Acc pay -
4Wells hired two new employees at a salary of $48,000 each. 10 - Supplies Capital
5Wells purchased supplies for $500 in cash. 11 - Ref Debit Credit Balance Sales -
6Wells paid $2,500 in cash to Office Plus for the computer. 12 - 5 Rent expense
7Wells rented office space paying $8000 in rent for January and February. 13 - - Salary expense
8Received $36,000 in cash for services provided to clients. Accounting Problem - Utility Expense
9 Performed more services for $11,000 and agreed the customer, Moe, could pay in two weeks. Accounts Receivable - Draw
10Moe sent in a check for $6,000 on the balance he owned. Ref Debit Credit Balance Totals - -
11The firm paid salaries of $8000 for the month. 9 Prepaid Rent 4Check figure 150500
12The firm paid utilities of $650 10 - Ref Debit Credit Balance Prepare the financial statements from the trial balance
13Janet Younger took a draw of $5000 for personal use. - 7
- - Income statement
1Journal the Entries use the lines below to complete the journal entries - Sales -
- Expenses
AccountsDebitCredit Rent expense
1 Draw Capital Salary expense
Ref Debit Credit Balance Ref Debit Credit Balance Utility Expense
13 1 Total expenses -
2 - - Net Income -
- -
- - Statement of owner equity
3 Beginning capital
+net income -
4 - Draw -
Ending equity -
5 Accounts Payable Rent Expense
Ref Debit Credit Balance Ref Debit Credit Balance
3 7 Balance Sheet
6 6 - - Assets Liabilities
- Cash - Accounts pay -
- Equipment -
7 Salary expense Accts Rec -
Sales Ref Debit Credit Balance Supplies
Ref Debit Credit Balance 11 Ppd Rent Ending equity -
8 - Total Assets - -
8 9 - -
- - check these two
- numbers should be
9 Utility Expense same
Ref Debit Credit Balance
12
10 -
-
-
11
12
13