Maurice Tutor

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Teaching Since: May 2017
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 24 Sep 2017 My Price 9.00

four-column format,

Journalizing transactions, posting to accounts in four-column format, and preparing a trial balance

The trial balance of John Hilton, CPA, is dated March 31, 2012:

 

JOHN HILTON, CPA

Trial Balance

31-Mar-12

Account No.

Account

Debit

Credit

11

Cash

$ 5,000

  

12

Accounts receivable

8,100

  

13

Supplies

800

  

14

Land

14,000

  

21

Accounts payable

  

4,200

31

Hilton, capital

  

23,700

32

Hilton, drawing

    

41

Service revenue

    

51

Salary expense

    

52

Rent expense

    
 

Total

$27,900

$27,900

During April, Hilton or his business completed the following transactions:

 

Apr 4

Collected $7,000 cash from a client on account.

8

Performed tax services for a client on account, $5,000.

13

Paid business debt on account, $2,500.

18

Purchased office supplies on account, $600.

20

Hilton withdrew cash of $2,300.

21

Hilton paid for a deck for his private residence,using personal funds, $12,000.

22

Received $2,100 cash for consulting work just completed.

27

Paid office rent, $300.

28

Paid employee salary, $1,300.

 

Requirements

1. Record the April transactions in the journal. Include an explanation for each entry.

2. Post the transactions to four-column accounts in the ledger, using dates, account numbers, journal references, and posting references. Open the ledger accounts listed in the trial balance, together with their balances at March 31.

3. Prepare the trial balance of John Hilton, CPA, at April 30, 2012.

Answers

Maurice Tutor
(5)
Status NEW Posted 24 Sep 2017 08:09 PM My Price 9.00

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