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CHP 3 Sample

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8 views

CHP 3 Sample

Uploaded by

qmaa786
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
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Ex.

3.10
a. Trafflet Enterprises incorporated
General Journal

Cash 800,000
3-
Share Capital 800,000
May
Issued ordinary shares
4 Office Rent Expense 1,000
Cash 1,000
Paid May office rent expense.
5 Office Supplies 400
Cash 400
Purchased office supplies.
15 Office Equipment 8,000
Accounts Payable 8,000
Purchased office equipment on account
18 Vehicles 27,000
Cash 7,000
Notes Payable 20,000
Purchased a car on cash note payable
20 Accounts Receivable 32,000
Client Revenue 32,000
Billed clients for services on
account.
26 Dividends 5,000
Dividends Payable 5,000
Declared dividend to be distributed in June.
29 Utilities Expense 200
Cash 200
Paid May utilities.
30 Cash 30,000
Accounts Receivable 30,000
receive cash from clients billed on May 20.
31 Salary Expense 14,000
Cash 14,000
Paid salary expense incurred in May.
ledgers

Cash Accounts Receivable


3-May 800,000 4-May 1,000 20-May 32,000 30-May 30,000
30-May 30,000 5-May 400
18-May 7,000
29-May 200 May 31bal. 2,000
830,000 31-May 14,000 22,600

May 31 bal 807,400


Office Supplies Office Equipment
5-May 400
May 31 bal. 8,000
May 31 bal. 400
Vehicles Notes Payable
18-May 27,000
May 31 bal. 20,000
May 31 bal. 27,000

Accounts Payable Dividends Payable


15-May 8,000
May 31 bal. 5,000
May 31 bal. 8,000
Share Capital Client Revenue
3-May 800,000
May 31 bal. 32,000
May 31 bal. 800,000
Office Rent Expense Salary Expense
4-May 1,000
May 31 bal. 14,000
May 31 bal. 1,000

Utilities Expense Dividends


29-May 200
May 31 bal. 5,000
May 31 bal. 200
Trafflet Enterprises
Trial Balance
31-May-11
Debit Credit
Cash $807,400
Accounts receivable 2,000
Office supplies 400
Office equipment 8,000
Vehicles 27,000
Notes Payable $20,000
Accounts Payable 8,000
Dividends Payable 5,000
Dividends 5,000
Share Capital 800,000
Client Revenue 32,000
Office Rent Expense 1,000
Salary Expense 14,000
Utilities Expense 200
Total $865,000 $865,000

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