ools Weygandt Financial Accounting 10e December 31 2018 Debi

ools Weygandt, Financial Accounting, 10e December 31, 2018 Debit Credit Cash Accounts Receivable Supplies Prepaid Rent Equipment Accounts Payable Common Stock Retained Earnings $9,000 15,100 12,700 2,800 19,300 $16,500 31,000 11.400 $58,900 $58,900 Summarized transactions for January 2019 were as follows. 1. Advertising costs, paid in cash, $1,120. 2. Additional supplies acquired on account $4,150. 3. Miscellaneous expenses, paid in cash, $2,020. 4. Cash collected from customers in payment of accounts receivable $12,340. 5. Cash paid to creditors for accounts payable due $12,840. 6. Repair services performed during January: for cash $6,850; on account $8,540. 7. Wages for January, paid in cash, $2,410. 8. Dividends during January were $2,550.

Solution

Trial Balance

Explanation

debit

credit

cash

advertising expense

1120

balance

9000

advertising expense

1120

Misc. expenses

2020

accounts receivables

12340

Misc.expenses

2020

service revenue

15390

service revenue

6850

accounts payable

12840

salaries and wages expenses

2410

salaries expense

2410

dividend

2550

dividend

2550

cash

7250

7250

accounts receivable

11300

28190

28190

supplies

16850

prepaid rent

2800

accounts receivables

equipment

19300

balance

15100

cash

12340

accounts payable

7810

service revenue

8540

balance

11300

common stock

31000

retained earning

11400

total

23640

23640

total

65600

65600

accounts payable

cash

12840

balance

16500

balance

7810

supplies

4150

total

20650

total

20650

supplies

balance

12700

balance

16850

accounts payable

4150

total

16850

total

16850

Trial Balance
Explanation		debit	credit			cash
advertising expense		1120			balance	9000	advertising expense	1120
Misc. expenses		2020			accounts receivables	12340	Misc.expenses	2020
service revenue			15390		service revenue	6850	accounts payable	12840
salaries and wages expenses		2410					salaries expense	2410
dividend		2550					dividend	2550
cash		7250						7250
accounts receivable		11300				28190		28190
supplies		16850
prepaid rent		2800				accounts receivables
equipment		19300			balance	15100	cash	12340
accounts payable			7810		service revenue	8540	balance	11300
common stock			31000
retained earning			11400		total	23640		23640
total		65600	65600			accounts payable
					cash	12840	balance	16500
					balance	7810	supplies	4150
					total	20650	total	20650
						supplies
					balance	12700	balance	16850
					accounts payable	4150
					total	16850	total	16850