Entries into T Accounts and Trial Balance Connie Young, an architect, opened an office on October 1, 20Y4. During the month, she completed the following transactions connected with her professional practice: Transferred cash from a personal bank account to an account to be used for the business, $63,900. Paid October rent for office and workroom, $6,400. Purchased used automobile for $42,000, paying $9,600 cash and giving a note payable for the remainder. Purchased office and computer equipment on account, $12,800. Paid cash for supplies, $3,070. Paid cash for annual insurance policies, $4,300. Received cash from client for plans delivered, $16,000. Paid cash for miscellaneous expenses, $1,720. Paid cash to creditors on account, $3,710. Paid $510 on note payable. Received invoice for blueprint service, due in November, $2,100. Recorded fees earned on plans delivered, payment to be received in November, $11,100. Paid salary of assistants, $3,400. Paid gas, oil, and repairs on automobile for October, $830. Required: 1. Record the above transactions (in chronological order) directly into the T accounts. To the left of the amount entered in the accounts, select the appropriate letter to identify the transaction. 2. Determine account balances of the T accounts. Accounts containing a single entry only (such as Prepaid Insurance) do not need a balance. Cash fill in the blank 4f897705e066006_2 fill in the blank 4f897705e066006_4 fill in the blank 4f897705e066006_6 fill in the blank 4f897705e066006_8 fill in the blank 4f897705e066006_10 fill in the blank 4f897705e066006_12 fill in the blank 4f897705e066006_14 fill in the blank 4f897705e066006_16 fill in the blank 4f897705e066006_18 fill in the blank 4f897705e066006_20 fill in the blank 4f897705e066006_22 Bal. fill in the blank 4f897705e066006_23 Accounts Receivable fill in the blank 4f897705e066006_25 Supplies fill in the blank 4f897705e066006_27 Prepaid Insurance fill in the blank 4f897705e066006_29 Automobiles fill in the blank 4f897705e066006_31 Equipment fill in the blank 4f897705e066006_33 Accounts Payable fill in the blank 4f897705e066006_35 fill in the blank 4f897705e066006_37 fill in the blank 4f897705e066006_39 Bal. fill in the blank 4f897705e066006_40 Notes Payable fill in the blank 4f897705e066006_42 fill in the blank 4f897705e066006_44 Bal. fill in the blank 4f897705e066006_45 Connie Young, Capital fill in the blank 4f897705e066006_47 Professional Fees fill in the blank 4f897705e066006_49 fill in the blank 4f897705e066006_51 Bal. fill in the blank 4f897705e066006_52 Salary Expense fill in the blank 4f897705e066006_54 Blueprint Expense fill in the blank 4f897705e066006_56 Rent Expense fill in the blank 4f897705e066006_58 Automobile Expense fill in the blank 4f897705e066006_60 Miscellaneous Expense fill in the blank 4f897705e066006_62 3. Prepare an unadjusted trial balance for Connie Young, Architect, as of October 31, 20Y4. For those boxes in which no entry is required, leave the box blank. Connie Young, Architect Unadjusted Trial Balance October 31, 20Y4 Debit Balances Credit Balances fill in the blank e564b6f85ff3033_2 fill in the blank e564b6f85ff3033_3 fill in the blank e564b6f85ff3033_5 fill in the blank e564b6f85ff3033_6 fill in the blank e564b6f85ff3033_8 fill in the blank e564b6f85ff3033_9 fill in the blank e564b6f85ff3033_11 fill in the blank e564b6f85ff3033_12 fill in the blank e564b6f85ff3033_14 fill in the blank e564b6f85ff3033_15 fill in the blank e564b6f85ff3033_17 fill in the blank e564b6f85ff3033_18 fill in the blank e564b6f85ff3033_20 fill in the blank e564b6f85ff3033_21 fill in the blank e564b6f85ff3033_23 fill in the blank e564b6f85ff3033_24 fill in the blank e564b6f85ff3033_26 fill in the blank e564b6f85ff3033_27 fill in the blank e564b6f85ff3033_29 fill in the blank e564b6f85ff3033_30 fill in the blank e564b6f85ff3033_32 fill in the blank e564b6f85ff3033_33 fill in the blank e564b6f85ff3033_35 fill in the blank e564b6f85ff3033_36 fill in the blank e564b6f85ff3033_38 fill in the blank e564b6f85ff3033_39 fill in the blank e564b6f85ff3033_41 fill in the blank e564b6f85ff3033_42 fill in the blank e564b6f85ff3033_44 fill in the blank e564b6f85ff3033_45 fill in the blank e564b6f85ff3033_46 fill in the blank e564b6f85ff3033_47

Entries into T Accounts and Trial Balance Connie Young, an architect, opened an office on October 1, 20Y4. During the month, she completed the following transactions connected with her professional practice: Transferred cash from a personal bank account to an account to be used for the business, $63,900. Paid October rent for office and workroom, $6,400. Purchased used automobile for $42,000, paying $9,600 cash and giving a note payable for the remainder. Purchased office and computer equipment on account, $12,800. Paid cash for supplies, $3,070. Paid cash for annual insurance policies, $4,300. Received cash from client for plans delivered, $16,000. Paid cash for miscellaneous expenses, $1,720. Paid cash to creditors on account, $3,710. Paid $510 on note payable. Received invoice for blueprint service, due in November, $2,100. Recorded fees earned on plans delivered, payment to be received in November, $11,100. Paid salary of assistants, $3,400. Paid gas, oil, and repairs on automobile for October, $830. Required: 1. Record the above transactions (in chronological order) directly into the T accounts. To the left of the amount entered in the accounts, select the appropriate letter to identify the transaction. 2. Determine account balances of the T accounts. Accounts containing a single entry only (such as Prepaid Insurance) do not need a balance. Cash fill in the blank 4f897705e066006_2 fill in the blank 4f897705e066006_4 fill in the blank 4f897705e066006_6 fill in the blank 4f897705e066006_8 fill in the blank 4f897705e066006_10 fill in the blank 4f897705e066006_12 fill in the blank 4f897705e066006_14 fill in the blank 4f897705e066006_16 fill in the blank 4f897705e066006_18 fill in the blank 4f897705e066006_20 fill in the blank 4f897705e066006_22 Bal. fill in the blank 4f897705e066006_23 Accounts Receivable fill in the blank 4f897705e066006_25 Supplies fill in the blank 4f897705e066006_27 Prepaid Insurance fill in the blank 4f897705e066006_29 Automobiles fill in the blank 4f897705e066006_31 Equipment fill in the blank 4f897705e066006_33 Accounts Payable fill in the blank 4f897705e066006_35 fill in the blank 4f897705e066006_37 fill in the blank 4f897705e066006_39 Bal. fill in the blank 4f897705e066006_40 Notes Payable fill in the blank 4f897705e066006_42 fill in the blank 4f897705e066006_44 Bal. fill in the blank 4f897705e066006_45 Connie Young, Capital fill in the blank 4f897705e066006_47 Professional Fees fill in the blank 4f897705e066006_49 fill in the blank 4f897705e066006_51 Bal. fill in the blank 4f897705e066006_52 Salary Expense fill in the blank 4f897705e066006_54 Blueprint Expense fill in the blank 4f897705e066006_56 Rent Expense fill in the blank 4f897705e066006_58 Automobile Expense fill in the blank 4f897705e066006_60 Miscellaneous Expense fill in the blank 4f897705e066006_62 3. Prepare an unadjusted trial balance for Connie Young, Architect, as of October 31, 20Y4. For those boxes in which no entry is required, leave the box blank. Connie Young, Architect Unadjusted Trial Balance October 31, 20Y4 Debit Balances Credit Balances fill in the blank e564b6f85ff3033_2 fill in the blank e564b6f85ff3033_3 fill in the blank e564b6f85ff3033_5 fill in the blank e564b6f85ff3033_6 fill in the blank e564b6f85ff3033_8 fill in the blank e564b6f85ff3033_9 fill in the blank e564b6f85ff3033_11 fill in the blank e564b6f85ff3033_12 fill in the blank e564b6f85ff3033_14 fill in the blank e564b6f85ff3033_15 fill in the blank e564b6f85ff3033_17 fill in the blank e564b6f85ff3033_18 fill in the blank e564b6f85ff3033_20 fill in the blank e564b6f85ff3033_21 fill in the blank e564b6f85ff3033_23 fill in the blank e564b6f85ff3033_24 fill in the blank e564b6f85ff3033_26 fill in the blank e564b6f85ff3033_27 fill in the blank e564b6f85ff3033_29 fill in the blank e564b6f85ff3033_30 fill in the blank e564b6f85ff3033_32 fill in the blank e564b6f85ff3033_33 fill in the blank e564b6f85ff3033_35 fill in the blank e564b6f85ff3033_36 fill in the blank e564b6f85ff3033_38 fill in the blank e564b6f85ff3033_39 fill in the blank e564b6f85ff3033_41 fill in the blank e564b6f85ff3033_42 fill in the blank e564b6f85ff3033_44 fill in the blank e564b6f85ff3033_45 fill in the blank e564b6f85ff3033_46 fill in the blank e564b6f85ff3033_47

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter19: Accounting For Plant Assets, Depreciation, And Intangible Assets

Section: Chapter Questions

Problem 1AP

See similar textbooks

Related questions

Concept explainers

Question

Entries into T Accounts and Trial Balance

Connie Young, an architect, opened an office on October 1, 20Y4. During the month, she completed the following transactions connected with her professional practice:

Transferred cash from a personal bank account to an account to be used for the business, $63,900.
Paid October rent for office and workroom, $6,400.
Purchased used automobile for $42,000, paying $9,600 cash and giving a note payable for the remainder.
Purchased office and computer equipment on account, $12,800.
Paid cash for supplies, $3,070.
Paid cash for annual insurance policies, $4,300.
Received cash from client for plans delivered, $16,000.
Paid cash for miscellaneous expenses, $1,720.
Paid cash to creditors on account, $3,710.
Paid $510 on note payable.
Received invoice for blueprint service, due in November, $2,100.
Recorded fees earned on plans delivered, payment to be received in November, $11,100.
Paid salary of assistants, $3,400.
Paid gas, oil, and repairs on automobile for October, $830.

Required:

1. Record the above transactions (in chronological order) directly into the T accounts. To the left of the amount entered in the accounts, select the appropriate letter to identify the transaction.

2. Determine account balances of the T accounts. Accounts containing a single entry only (such as Prepaid Insurance) do not need a balance.

Cash
	fill in the blank 4f897705e066006_2	fill in the blank 4f897705e066006_4
	fill in the blank 4f897705e066006_6	fill in the blank 4f897705e066006_8
		fill in the blank 4f897705e066006_10
		fill in the blank 4f897705e066006_12
		fill in the blank 4f897705e066006_14
		fill in the blank 4f897705e066006_16
		fill in the blank 4f897705e066006_18
		fill in the blank 4f897705e066006_20
		fill in the blank 4f897705e066006_22
Bal.	fill in the blank 4f897705e066006_23

Accounts Receivable
	fill in the blank 4f897705e066006_25

Supplies
	fill in the blank 4f897705e066006_27

Prepaid Insurance
	fill in the blank 4f897705e066006_29

Automobiles
	fill in the blank 4f897705e066006_31

Equipment
	fill in the blank 4f897705e066006_33


fill in the blank 4f897705e066006_35		fill in the blank 4f897705e066006_37
		fill in the blank 4f897705e066006_39
	Bal.	fill in the blank 4f897705e066006_40

Notes Payable
	fill in the blank 4f897705e066006_42		fill in the blank 4f897705e066006_44
		Bal.	fill in the blank 4f897705e066006_45

Connie Young, Capital
			fill in the blank 4f897705e066006_47

Professional Fees
			fill in the blank 4f897705e066006_49
			fill in the blank 4f897705e066006_51
		Bal.	fill in the blank 4f897705e066006_52

Salary Expense
	fill in the blank 4f897705e066006_54

Blueprint Expense
	fill in the blank 4f897705e066006_56

Rent Expense
	fill in the blank 4f897705e066006_58

Automobile Expense
	fill in the blank 4f897705e066006_60

Miscellaneous Expense
	fill in the blank 4f897705e066006_62

3. Prepare an unadjusted trial balance for Connie Young, Architect, as of October 31, 20Y4. For those boxes in which no entry is required, leave the box blank.

Connie Young, Architect
Unadjusted Trial Balance
October 31, 20Y4
	Debit Balances	Credit Balances
	fill in the blank e564b6f85ff3033_2	fill in the blank e564b6f85ff3033_3
	fill in the blank e564b6f85ff3033_5	fill in the blank e564b6f85ff3033_6
	fill in the blank e564b6f85ff3033_8	fill in the blank e564b6f85ff3033_9
	fill in the blank e564b6f85ff3033_11	fill in the blank e564b6f85ff3033_12
	fill in the blank e564b6f85ff3033_14	fill in the blank e564b6f85ff3033_15
	fill in the blank e564b6f85ff3033_17	fill in the blank e564b6f85ff3033_18
	fill in the blank e564b6f85ff3033_20	fill in the blank e564b6f85ff3033_21
	fill in the blank e564b6f85ff3033_23	fill in the blank e564b6f85ff3033_24
	fill in the blank e564b6f85ff3033_26	fill in the blank e564b6f85ff3033_27
	fill in the blank e564b6f85ff3033_29	fill in the blank e564b6f85ff3033_30
	fill in the blank e564b6f85ff3033_32	fill in the blank e564b6f85ff3033_33
	fill in the blank e564b6f85ff3033_35	fill in the blank e564b6f85ff3033_36
	fill in the blank e564b6f85ff3033_38	fill in the blank e564b6f85ff3033_39
	fill in the blank e564b6f85ff3033_41	fill in the blank e564b6f85ff3033_42
	fill in the blank e564b6f85ff3033_44	fill in the blank e564b6f85ff3033_45
	fill in the blank e564b6f85ff3033_46	fill in the blank e564b6f85ff3033_47

4. Determine the net income or net loss for October.
$fill in the blank c57d4dfadfa5fb9_2

Expert Solution

Trending now

This is a popular solution!

Step by step

Solved in 4 steps with 4 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.