S210 Nancy Carpenter Optical Dispensary bought supplies on account for $10,000 on September 8. On September 22, the company paid $4,000 on account.
1. Journalize the two transactions for Nancy Carpenter Optical Dispensary. Include an explanation for each transaction.
2. Open the Accounts Payable T-account and post to Accounts Payable. Compute the balance and denote it as Bal.
Journalize posting
S211 On October 5, Tina Serelio performed legal services for a client who could not pay immediately. The business expected to collect the $12,000 the following month. On November 4, the business received $5,500 cash from the client.
1. Record the two transactions for Tina Serelio, Lawyer. Include an explanation for each transaction.
2. Open these T-accounts: Cash; Accounts Receivable; Service Revenue. Post to all three accounts. Compute each account's balance and denote it as Bal.
3. Answer these questions based on your analysis:
a. How much did the business earn? Which account shows this amount?
b. How much in total assets did the business acquire as a result of the two transactions? Identify each asset and show its amount.
Journalize posting
3. a. Earned
S212 Calculate the account balance for each of the following T-accounts:
Accounts Receivable
Cash
Accounts Payable
Calculate balances
2,700
2,700
67,500
4,200
1,100
4,800
5,800
1,100
16,800
12,300
700
4,900
850
4,090
S213 Compute the missing amount represented by X in each account:
R.Glennie, Capital
Accounts Receivable
Find missing amount
22,000
Bal. x
Bal. 21,800
X
56,000
55,100
15,000
Bal. 47,000
Bal. 73,000
S214 Use the information shown below to prepare the unadjusted trial balance for Balzy 00 Indoor Tennis Club at November 30, 2020. Include the account number in the trial balance.
Preparing balance
T-accounts
Balzy Indoor Tennis Club
Total, $36,150
General Ledger
Stan Balzy, Cash 10002
Furniture 17500
Accounts Payable 20001
Capital 30001
5,000
150
5,500
3,000
9,640
27,000
12,600
800
3,000
100
955
475
6,200
290
Stan Balzy, Withdrawals 1,200
Sales Revenue 40001 5,500
Supplies Expense 51200 2,500
Rent Expense 53200 4,000
30002
Chapter 2 Recording Business
