Homework SourseA Open Taccounts for each of the accounts listed in the tria
A: Open T-accounts for each of the accounts listed in the trial balance, and enter the opening balances for 2017.
B: Prepare journal entries to record each of the January transactions.
Tom Zopf owns and manages a computer repair service, which had the following trial balance on December 31, 2016 (the end of its fiscal year).
TABLETTE REPAIR SERVICE, INC.
Trial Balance
December 31, 2016
Debit
Credit
Cash
$ 9,000
Accounts Receivable
15,100
Supplies
12,700
Prepaid Rent
2,800
Equipment
19,300
Accounts Payable
$16,500
Common Stock
Retained Earnings
11,400
$58,900
$58,900
Summarized transactions for January 2017 were as follows.
Dividends during January were $2,550.
| TABLETTE REPAIR SERVICE, INC. | ||||
| Debit | Credit | |||
| Cash | $ 9,000 | |||
| Accounts Receivable | 15,100 | |||
| Supplies | 12,700 | |||
| Prepaid Rent | 2,800 | |||
| Equipment | 19,300 | |||
| Accounts Payable | $16,500 | |||
| Common Stock | 31,000 | |||
| Retained Earnings |
| 11,400 | ||
| $58,900 | $58,900 |
Solution
Answer
No
Account Titles
Dr
Cr
1
Advertising expenses
1120
Cash
1120
2
Supplies
4150
Accounts payable
4150
3
Miscellaneous expenses
2020
Cash
2020
4
Cash
12340
Accounts receivables
12340
5
Accounts payable
12840
Cash
12840
6
Cash
6850
Accounts receivables
8540
Service Revenue
15390
7
Wages/Salaries expense
2410
Cash
2410
8
Dividends
2550
Cash
2550
Cash
Op. Bal
9000
1
1120
4
12340
3
2020
6
6850
5
12840
7
2410
8
2550
Bal
7250
TOTAL
28190
TOTAL
28190
Accounts receivables
Op bal
15100
4
12340
6
8540
Bal
11300
Total
23640
Total
23640
Supplies
Op Bal
12700
BAL
16850
2
4150
Total
16850
Total
16850
Prepaid Rent
Op bal
2800
Bal
2800
Total
2800
Total
2800
Equipment
Op Bal
19300
Bal
19300
Total
19300
Total
19300
Accounts payable
5
12840
Op Bal
16500
Bal
7810
2
4150
Total
20650
Total
20650
Common Stock
Bal
31000
Op Bal
31000
Total
31000
Total
31000
Retained earnings
Bal
11400
Op. Bal
11400
Total
11400
Total
11400
| No | Account Titles | Dr | Cr |
| 1 | Advertising expenses | 1120 | |
| Cash | 1120 | ||
| 2 | Supplies | 4150 | |
| Accounts payable | 4150 | ||
| 3 | Miscellaneous expenses | 2020 | |
| Cash | 2020 | ||
| 4 | Cash | 12340 | |
| Accounts receivables | 12340 | ||
| 5 | Accounts payable | 12840 | |
| Cash | 12840 | ||
| 6 | Cash | 6850 | |
| Accounts receivables | 8540 | ||
| Service Revenue | 15390 | ||
| 7 | Wages/Salaries expense | 2410 | |
| Cash | 2410 | ||
| 8 | Dividends | 2550 | |
| Cash | 2550 |
