![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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![these transactions (use the account titles listed in part 2).
2 Open the following ledger accounts-their account numbers are in parentheses (use the balance
column format): Cash (101); Accounts Receivable (106); Office Supplies (124); Prepaid Insurance
(128); Prepaid Rent (131); Office Equipment (163); Accounts Payable (201); Abd El Qadir, Capital
(301): Abd El Qadir, Withdrawals (302); Services Revenue (403); and Utilities Expense (690). Post
the journal entries from part 1 to the ledger accounts and enter the balance after each posting.
Chec
$59,
$4,49
3. Prepare a trial balance as of the end of April 30.
Abdullah Engineering completed the following transactions in the month of June.
a. Amina Abdullah, the owner, invested $100,000 cash, office equipment with a value of $5,000, and
$60,000 of drafting equipment to launch the company.
b. The company purchased land worth $49,000 for an office by paying $6,300 cash and signing a long-
term note payable for $42,700.
c. The company purchased a portable building with $55,000 cash and moved it onto the land
acquired in b.
d. The company paid $3,000 cash for the premium on an 18-month insurance policy.
e. The company completed and delivered a set of plans for a client and collected $6,200 cash.
f. The company purchased $20,000 of additional drafting equipment by paying $9,500 cash and signing
a long-term note payable for $10,500.
g. The company completed $14,000 of engineering services for a client. This amount is to be received
in 30 days.
h. The company purchased $1,150 of additional office equipment on credit.
i. The company completed engineering services for $22,000 on credit.
j. The company received a bill for rent of equipment that was used on a recently completed job. The
$1,333 rent cost must be paid within 30 days.
k. The company collected $7,000 cash in partial payment from the client described in transaction g.
I. The company paid $1,200 cash for wages to a drafting assistant.
m. The company paid $1,150 cash to settle the account payable created in transaction h.
n. The company paid $925 cash for minor maintenance of its drafting equipment.
o. Amina Abdullah withdrew $9,480 cash from the company for personal use.
Pro
Prep
entri
C3
p. The company paid $1,200 cash for wages to a drafting assistant.
q. The company paid $2,500 cash for advertisements on the web during June.](https://content.bartleby.com/qna-images/question/5543ddee-2505-4f38-aa19-a8acc3b852d3/4c8706c0-f485-4061-9d42-18040dde5935/9phzdpd_thumbnail.jpeg)
Transcribed Image Text:these transactions (use the account titles listed in part 2).
2 Open the following ledger accounts-their account numbers are in parentheses (use the balance
column format): Cash (101); Accounts Receivable (106); Office Supplies (124); Prepaid Insurance
(128); Prepaid Rent (131); Office Equipment (163); Accounts Payable (201); Abd El Qadir, Capital
(301): Abd El Qadir, Withdrawals (302); Services Revenue (403); and Utilities Expense (690). Post
the journal entries from part 1 to the ledger accounts and enter the balance after each posting.
Chec
$59,
$4,49
3. Prepare a trial balance as of the end of April 30.
Abdullah Engineering completed the following transactions in the month of June.
a. Amina Abdullah, the owner, invested $100,000 cash, office equipment with a value of $5,000, and
$60,000 of drafting equipment to launch the company.
b. The company purchased land worth $49,000 for an office by paying $6,300 cash and signing a long-
term note payable for $42,700.
c. The company purchased a portable building with $55,000 cash and moved it onto the land
acquired in b.
d. The company paid $3,000 cash for the premium on an 18-month insurance policy.
e. The company completed and delivered a set of plans for a client and collected $6,200 cash.
f. The company purchased $20,000 of additional drafting equipment by paying $9,500 cash and signing
a long-term note payable for $10,500.
g. The company completed $14,000 of engineering services for a client. This amount is to be received
in 30 days.
h. The company purchased $1,150 of additional office equipment on credit.
i. The company completed engineering services for $22,000 on credit.
j. The company received a bill for rent of equipment that was used on a recently completed job. The
$1,333 rent cost must be paid within 30 days.
k. The company collected $7,000 cash in partial payment from the client described in transaction g.
I. The company paid $1,200 cash for wages to a drafting assistant.
m. The company paid $1,150 cash to settle the account payable created in transaction h.
n. The company paid $925 cash for minor maintenance of its drafting equipment.
o. Amina Abdullah withdrew $9,480 cash from the company for personal use.
Pro
Prep
entri
C3
p. The company paid $1,200 cash for wages to a drafting assistant.
q. The company paid $2,500 cash for advertisements on the web during June.
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