Need help with Gerenal legder and Trail balance?
On February 9th i assumed the job of book keeper for John Company. The previousbookkeepersr quiet with notice on Jan 31 & burned the accounting records on his way out.Fortunatelyy, jon the owner kept a copy of the chars accounts. post-closing trail balance and Schedule of A/P and A/R..
This is what i need The owner wrote memos for all transaction that occurred between 1/31/0 and my arrival on 2/9. Starting on the 9th he put all invoices in my box as well as copies of the any checks he writes and memo of iinstruction For February, records the transactions in the general journal and post to the general Ledger Accounts.
Post closing-trail balance 1/31
office Supples 400
Feburary Net income 17,411.00
Fevurary 28th cash balance 3,430.00
I think i done everything right but my it said my Net income should be 17,411.00 and a Cash balance of 3,430.00. Also please check to make sure general journal is right!!!
Step 1 Issued Check # 5347 to Dell Computer in the amount of $3,300 to purchase a new computer and printer. **** Equiptment DR 3,300 and CR Cash 3,300*****
Step 2 Issued Check #5348 in the amount of $2,400 to T Insurance Agency for the next 12 months' liability insurance ****** DR Prepaid Insurance 2,400 CR Cash 2,400
Step 3 Purchased $1,500 of office supplies on account from office max*** DR office Supplies 1,500 and CR Accounts Payable 1,500
Step 4 Issued check # 5349 in the amount $1,200 to Rodriguez property Management for February's rent*** DR Rent Expense 1,200 CR Cash**
Step 5 Received and deposited $1,500 payment from Sega and $2,200 payment from Microsoft on account ( for the work performed in January)** DR Cash 1,500 CR Accounts Receivable 1,500** as well as **DR 2,200 CR Accounts Receivable 2,200**
Step 6 Legal services were provided for the following clients: Ford $3,400 JJ foods $2,200; Standard $4,600; Wu consulting $3,800; Mooney farms $2,100. None of the clients has paid yet. **** I DR all Accounts Receivabe CR Legal Revenue.**
Step 7 Received checks from Ford (3,400)and WU ($ 3,800) on account for work performed the first week of February. *** DR Cash both CR account's Receivable
Step 8: Lawrence Computer Services Printer Perpair Services 2/2/xx amount of 248.00 due date 3/2/xx*** DR Repair Expense 248 CR Account's payable**
Step 9 Please issue ckeck #5350 to pay John co. (invoice #234 for $815) and check #5351 to pay Doug's Printing Shop (Invoice # 323499 for $2,300). Both invoices were already entered as accounts payable in January.** i did nothing**
Step 10 During the second & third weeks of Feburay legal servies were priovided for Ford $3,100, Lee Labs $8845 ortega Foods $4,500 and Botique $ 3,700. Payments has not yet been received from these clients.*** For all DR accounts Receivable CR Legal Revenue***
Step 11 Please issue check # 5352 to Office Max $1,500 (inv #22535) on account.
*** DR office Supplies CR Account's Payable**
Step 12 Received checks from Ortega ($4,500) and Lee Labs ($845) an account.*** Both DR Cash CR Account Receivable**
Step 13 Please Note i wrote a personal check for $10,000*** DR Drawing CR Cash***
Step 14 Please issue check #5354 to yourself for $3,200 andcheck #5435 to Mark Smith the legal secretary for #3,600**** For simplicity, debit wage & salary expense $6800 and credit cash $6,800
***DR wage and Salary 6,800 CR cash***
Telephone bill 150.00 billing Period feb1-28 Due Date 3/8/20xx*** DR Telephone Expense 150.00 CR Account's payable 150***
Postage Meter & Postage 352 Billing period feb 1-28 due Date 3/20/xx*** DR Postage Expense CR accounts payable.
PG&E billing period feb 1-28 134.00 Due date 3/8/xx**** DR Utilities Expense 134.00 CR A/p134.00***
- Anonymous10 years agoFavorite Answer
Wow. You really do need help.