Journal Posting to Ledger and Trial Balance PreparationI'll upvote if its complete 20 Accounts Payable30,000Cash30,000Payment to creditorsCash21 Gasoline Expense6,000Cash6,000payment for gasoline22 Note payable4,000Cash4,000installment payment on NotesCash24 Printing Expense3,100Accounts PayableBill for blueprint3,100d26 Accounts Receivable41,500Service Revenue41,500Billing to clients|(bill of clients in plans delivered)28 Salaries Expense12,500Cash12,500Salary of assistant(Salaries of assisstant)30 Utilities Expense2,800Accounts payable2,800Electric bill|(Paid account for utilities)31 David, Withdrawal8,000Cash8,000Transfer to personal account(Drawings for withdrawal) DateAccount Titles and ExplanationPRDebitCredit20191 CashP 200,000Oscar. David, an architect, established Luces Architectural Services on October 1, 2019. During themonth, he completed the following transactions connected with his professional practice:Oct 1 Transferred cash from a personal bank account to an account to be used for the business,OctoberDavid, Capital200,000Owner's InvestmentP200,000David, Capital2 Paid rent for office and workroom, P25,000.5 Purchased used automobile for P115,000 paying P25,000 cash and giving a note for the2 Rent Expense25,000Cash25,000Payment of RentremainderD8 Purchased office and drafting room equipment on account, P60,000.10 Paid cash for supplies, P9,000.5 Transportation Equipment115,000Cash25,00090,000Note Payable14 Paid cash for insurance policies, P10,500.d15 Received cash from client for plans delivered, P31,000.8 Office Equipment60,00018 Paid cash for automobile repairs, P1,500.Accounts PayableOffice and drafting room equipment60,00020 Paid cash to creditors on account, P30,000.21 Received and paid bill on gasoline used, P6,000.10 Supplies9,00022 Paid installment due on note payable, P4,000.Cash9,00024 Received invoice for blueprint service, due in November, P3,100.Acquisition of Sullpiesd26 Bill clients on plans delivered, P41,500.14 Insurance Expense10,50028 Paid salary of assistant, P12,500.Cash10,50030 Received electric bill for the month, P2,800.Payment for insuranace policies31 Transferred cash to a personal account, P8,000.15 Cash31,000Service Revenue31,000Cash from client for plans deliveredCASH (P)18 Repairs & MaintenanceCash1,5001,500Automobile repairsd20 Accounts Payable30,000

Trial balance is inclusive of all the ledger accounts prepared from the journal entries. The total…

20 Accounts Payable 30,000 Cash 30,000 Payment to creditors Cash 21 Gasoline Expense 6,000 Cash 6,000 payment for gasoline 22 Note payable 4,000 Cash 4,000 installment payment on Notes Cash 24 Printing Expense Accounts Payable Bill for blueprint 3,100 3,100 d 26 Accounts Receivable 41,500 Service Revenue 41,500 Billing to clients |(bill of clients in plans delivered) 28 Salaries Expense 12,500 Cash 12,500 Salary of assistant |(Salaries of assisstant) 30 Utilities Expense Accounts payable 2,800 2,800 Electric bill |(Paid account for utilities) 31 David, Withdrawal 8,000 Cash 8,000 Transfer to personal account (Drawings for withdrawal)

20 Accounts Payable 30,000 Cash 30,000 Payment to creditors Cash 21 Gasoline Expense 6,000 Cash 6,000 payment for gasoline 22 Note payable 4,000 Cash 4,000 installment payment on Notes Cash 24 Printing Expense Accounts Payable Bill for blueprint 3,100 3,100 d 26 Accounts Receivable 41,500 Service Revenue 41,500 Billing to clients |(bill of clients in plans delivered) 28 Salaries Expense 12,500 Cash 12,500 Salary of assistant |(Salaries of assisstant) 30 Utilities Expense Accounts payable 2,800 2,800 Electric bill |(Paid account for utilities) 31 David, Withdrawal 8,000 Cash 8,000 Transfer to personal account (Drawings for withdrawal)

Financial Accounting

15th Edition

ISBN:9781337272124

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter4: Completing The Accounting Cycle

Section: Chapter Questions

Problem 5CP

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