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Accounting Question Solve .

The document outlines accounting journal entries, ledger postings, and a trial balance for the month of April 2021. It includes detailed transactions such as cash inflows and outflows, expenses, and revenue recognition. The trial balance shows equal totals of $32,600 for both debits and credits, indicating balanced accounts.

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4 views

Accounting Question Solve .

The document outlines accounting journal entries, ledger postings, and a trial balance for the month of April 2021. It includes detailed transactions such as cash inflows and outflows, expenses, and revenue recognition. The trial balance shows equal totals of $32,600 for both debits and credits, indicating balanced accounts.

Uploaded by

afifaahmedkazi22
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Accounting (Question : 2022)

Here is a step-by-step solution to the problem, presented in charts for clarity.

(a) Journal Entries


Date Account Titles and Explanation Debit ($) Credit ($)
April 1 Cash 20,000
Owner’s Capital 20,000
April 1 Salaries Expense 2,800
Salaries Payable 2,800
April 2 Office Rent Expense 1,100
Cash 1,100
April 3 Dental Supplies 4,000
Accounts Payable 4,000
April 10 Accounts Receivable 5,100
Service Revenue 5,100
April 11 Cash 1,000
Unearned Revenue 1,000
April 20 Cash 2,100
Service Revenue 2,100
April 30 Salaries Expense 2,800
Cash 2,800
April 30 Accounts Payable 2,400
Cash 2,400

(b) Ledger Postings


Cash
Date Description Debit ($) Credit ($) Balance ($)
April 1 Investment 20,000 20,000
April 2 Rent Payment 1,100 18,900
April 11 Advance Received 1,000 19,900
April 20 Service Revenue 2,100 22,000
April 30 Salary Payment 2,800 19,200
April 30 Payment to Dazzle 2,400 16,800
Owner’s Capital
Date Description Debit ($) Credit ($) Balance ($)
April 1 Initial Investment 20,000 20,000

Salaries Expense
Date Description Debit ($) Credit ($) Balance ($)
April 1 Monthly Expense 2,800 2,800
April 30 Monthly Expense 2,800 5,600

Salaries Payable

Date Description Debit ($) Credit ($) Balance ($)


April 1 Accrued Salaries 2,800 2,800

Dental Supplies

Date Description Debit ($) Credit ($) Balance ($)


April 3 Purchase on Account 4,000 4,000

Accounts Payable

Date Description Debit ($) Credit ($) Balance ($)


April 3 Dental Supplies 4,000 4,000
April 30 Payment to Dazzle 2,400 1,600

Accounts Receivable

Date Description Debit ($) Credit ($) Balance ($)


April 10 Services Rendered 5,100 5,100

Service Revenue

Date Description Debit ($) Credit ($) Balance ($)


April 10 Billed to Insurers 5,100 5,100
April 20 Cash Received 2,100 7,200

Unearned Revenue

Date Description Debit ($) Credit ($) Balance ($)


April 11 Advance Received 1,000 1,000

Office Rent Expense

Date Description Debit ($) Credit ($) Balance ($)


April 2 Monthly Rent 1,100 1,100
(c) Trial Balance as of April 30, 2021
Account Debit ($) Credit ($)
Cash 16,800
Accounts Receivable 5,100
Dental Supplies 4,000
Office Rent Expense 1,100
Salaries Expense 5,600
Unearned Revenue 1,000
Accounts Payable 1,600
Salaries Payable 2,800
Service Revenue 7,200
Owner’s Capital 20,000
Totals 32,600 32,600

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