the transactions completed by sure n rsquo safe courier company during july 2012 the 551384 | Homework Solutions

PR 5-5A All journals and general ledger; trial balance

The transactions completed by Sure N’ Safe Courier Company during July 2012, the first month of the fiscal year, were as follows:

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July 1.

Issued Check No. 610 for July rent, $7,500.

2.

Issued Invoice No. 940 to Capps Co., $2,680.

3.

Received check for $6,700 from Trimble Co. in payment of account.

5.

Purchased a vehicle on account from Browning Transportation, $34,600.

6.

Purchased office equipment on account from Austin Computer Co., $5,200.

6.

Issued Invoice No. 941 to Dawar Co., $5,970.

9.

Issued Check No. 611 for fuel expense, $900.

10.

Received check from Sing Co. in payment of $3,980 invoice.

10.

Issued Check No. 612 for $1,040 to Office To Go Inc. in payment of invoice.

10.

Issued Invoice No. 942 to Joy Co., $2,640.

11.

Issued Check No. 613 for $3,670 to Essential Supply Co. in payment of account.

11.

Issued Check No. 614 for $725 to Porter Co. in payment of account.

12.

Received check from Capps Co. in payment of $2,680 invoice.

13.

Issued Check No. 615 to Browning Transportation in payment of $34,600 balance.

16.

Issued Check No. 616 for $42,100 for cash purchase of a vehicle.

16.

Cash fees earned for July 1–16, $18,900.

17.

Issued Check No. 617 for miscellaneous administrative expense, $750.

18.

Purchased maintenance supplies on account from Essential Supply Co., $1,950.

19.

Purchased the following on account from McClain Co.: maintenance supplies, $1,900; office supplies, $470.

20.

Issued Check No. 618 in payment of advertising expense, $2,350.

20.

Used $4,000 maintenance supplies to repair delivery vehicles.

23.

Purchased office supplies on account from Office To Go Inc., $600.

24.

Issued Invoice No. 943 to Sing Co., $7,000.

24.

Issued Check No. 619 to J. Bourne as a personal withdrawal, $3,000.

25.

Issued Invoice No. 944 to Dawar Co., $6,450.

25.

Received check for $4,500 from Trimble Co. in payment of balance.

26.

Issued Check No. 620 to Austin Computer Co. in payment of $5,200 invoice of July 6.

30.

Issued Check No. 621 for monthly salaries as follows: driver salaries, $18,900; office salaries, $8,300.

31.

Cash fees earned for July 17–31, $21,400.

31.

Issued Check No. 622 in payment for office supplies, $800.

Instructions

1. Enter the following account balances in the general ledger as of July 1:

11

Cash

$167,900

32

J. Bourne, Drawing

—

12

Accounts Receivable

15,180

41

Fees Earned

—

14

Maintenance Supplies

10,850

51

Driver Salaries Expense

—

15

Office Supplies

4,900

52

Maintenance Supplies Exp.

—

16

Office Equipment

28,500

53

Fuel Expense

—

17

Accum. Depr.—Office Equip.

6,900

61

Office Salaries Expense

—

18

Vehicles

95,900

62

Rent Expense

—

19

Accum. Depr.—Vehicles

14,700

63

Advertising Expense

—

21

Accounts Payable

5,435

64

Miscellaneous Administrative Expense

—

31

J. Bourne, Capital

296,195

Journalize the transactions for July 2012, using the following journals similar to those illustrated in this chapter: cash receipts journal, purchases journal, with columns for Accounts Payable, Maintenance Supplies, Office Supplies, and Other Accounts), single column revenue journal, cash payments journal, and two-column general journal. Assume that the daily postings to the individual accounts in the accounts payable ledger and the accounts receivable ledger have been made.

3. Post the appropriate individual entries to the general ledger.

4. Total each of the columns of the special journals, and post the appropriate totals to the general ledger; insert the account balances.

5. Prepare a trial balance.

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