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PROBLEM A (p.
45)
VIRGIE LITTON
Date
200E
Dec
Particulars
Ref
Debit
101
301
200,000
1 Rent Expense
Cash
501
101
16,400
1 Supplies Expense
Cash
502
101
15,500
1 Office Equipment
Cash
Accounts Payable
105
101
201
80,000
2 Furnitures & Fixtures

Cash
104
101
12,500
2 Cash
101
401
5,600
3 Light & Water Expense

Cash
503
101
4,000
4 Accounts Receivable
Professional Fees
102
401
38,000
8 Cash
101
203
20,000
10 Notes Receivable
Professional Fees
103
401
12,000
15 Salaries Expense
Cash
504
101
16,500
15 V. Litton, Drawing
Cash
302
101
10,000

Accounts Payable (Leeman)
104
201
15,000
1 Cash
V. Litton, Capital
Professional Fees
Loan Payable
Credit
200,000
16,400
15,500
40,000
40,000
12,500
5,600
4,000
38,000
20,000
12,000
16,500
10,000
15,000
20 Office Equipment
Notes Payable
105
202
32,000
31 Taxes and Licenses

Cash
505
101
3,000
31 Salaries Expense
Cash
504
101
14,250
31 Accounts Payable (Leeman)

Cash
201
101
4,000
31 Cash
101
102
12,800
Accounts Receivable
101
101
101
101
101
101
101
101
101
101
101
101
101
101
2
8
31
1
1
1
2
3
15
15
31
31
31
1
Cash
Cash
Cash
Cash
Cash
Cash
Cash
Cash
Cash
Cash
Cash
Cash
Cash
Cash
32,000
3,000
14,250
4,000
12,800
5,600
20,000
12,800
200,000
16,400
15,500
40,000
12,500
4,000
16,500
10,000
3,000
14,250
4,000
-
238,400
136,150
102,250
102
102
103
104
104
105
105
201
201
201
202
203
301
302
401
401
401
10 Notes Receivable

1 Office Equipment
20 Office Equipment
1 Accounts Payable
20 Notes Payable
8 Loan Payable
1 V. Litton, Capital
15 V. Litton, Drawing
2 Professional Fees
4 Professional Fees
10 Professional Fees
38,000
-
12,800
38,000
12,800
12,000
12,000
12,500
15,000
27,500
80,000
32,000
112,000
4,000
40,000
15,000
-
4,000
55,000
32,000
32,000
20,000
20,000
200,000
200,000
10,000
10,000
5,600
38,000
12,000
55,600
25,200
12,000
27,500
112,000
51,000
32,000
20,000
200,000
10,000
55,600
501
502
503
504
504
505
1 Rent Expense
1 Supplies Expense
15 Salaries Expense
31 Salaries Expense
31 Taxes and Licenses
Trial Balance
Cash
Accounts Receivable
Notes Receivable
Furnitures & Fixtures
Office Equipment
Accounts Payable
Notes Payable
Loan Payable
V. Litton, Capital
V. Litton, Drawing
Professional Fees
Rent Expense
Supplies Expense
Light & Water Expense
Salaries Expense
Taxes and Licenses
16,400
16,400
15,500
15,500
4,000
4,000
16,500
14,250
30,750
3,000
3,000
16,400
15,500
4,000
30,750
3,000
Debit
102,250
25,200
12,000
27,500
112,000
Credit
51,000
32,000
20,000
200,000
10,000
55,600
16,400
15,500
4,000
30,750
3,000
358,600
358,600
PROBLEM A (p. 45)

VIRGIE LITTON
Date
200E
Dec
Particulars
Ref
Debit
150,000
40,000
C. Lahis, Capital
110
113
360
1 Rent Expense
Cash
580
110
12,000
1 Repair Supplies Expense

Cash
581
110
6,000

Cash
114
110
16,000
1 Advertising Expense
Cash
582
110
15,000
1 Insurance Expense
Cash
583
110
6,000
1 Repair Equipment
Accounts Payable
116
251
29,350
6 Cash
48,950
Repair Income
110
470
7 Furnitures & fixtures

Notes Payable
114
250
8,400
7 Note Receivable
Repair Income
111
470
2,000
Repair Income
112
470
36,500
9 Office Supplies Expense

Accounts Payable
584
251
3,120
110
252
300,000
1 Cash
Tools
10 Cash
Loans Payable
Credit
190,000
12,000
6,000
16,000
15,000
6,000
29,350
48,950
8,400
2,000
36,500
3,120
300,000
11 C. Lahis Drawing
Cash
361
110
12,000

Cash
585
110
2,500
15 Salaries Expense
Cash
587
110
16,000
18 C. Lahis Drawing
Tools
361
113
2,000
19 Cash
110
112
36,500
Repair Income
112
470
28,400
21 Office Equipment
Accounts Payable
115
251
21,000
23 Cash
8,400
Accounts Receivable
110
112
22,500
Repair Income
110
470
Repair Income
112
470
12,600
27 Cash
110
111
471
2,028
27 Taxes and Licenses Expense

Cash
586
110
4,850
31 Cash
110
112
6,300
31 Salaries Expense
Cash
587
110
8,000
31 Notes Receivable
Accounts Receivable
111
112
2,000
31 Accounts Payable
251
29,350
Accounts Receivable
24 Cash
Notes Receivable
Interest Income
Accounts Receivable
12,000
2,500
16,000
2,000
36,500
28,400
21,000
8,400
22,500
12,600
2,000
28
4,850
6,300
8,000
2,000
Notes Payable
250
31 Loans Payable
Interest Expense
Cash
252
588
1
1
1
1
1
1
6
10
11
13
15
19
23
24
27
27
31
31
31
110
110
110
110
110
110
110
110
110
110
110
110
110
110
110
110
110
Cash
Cash
Cash
Cash
Cash
Cash
Cash
Cash
Cash
Cash
Cash
Cash
Cash
Cash
Cash
Cash
Cash
Cash
Cash
29,350
100,000
12,000
112,000
110
150,000
12,000
6,000
16,000
15,000
6,000
48,950
300,000
12,000
2,500
16,000
36,500
8,400
22,500
2,028
4,850
6,300
574,678
112,000
8,000
210,350
364,328
(364,328)
7 Note Receivable
31 Notes Receivable
27
Notes Receivable
19
Accounts Receivable
23
Accounts Receivable
31
Accounts Receivable
31
Accounts Receivable
1 Tools
18
Tools

7 Furnitures & fixtures
21 Office Equipment
1 Repair Equipment
7
31
Notes Payable
Notes Payable
31 Accounts Payable
1
Accounts Payable
9
Accounts Payable
21
Accounts Payable
10
Loans Payable
31 Loans Payable
C. Lahis, Capital
111
111
111
112
112
112
112
112
112
112
113
113
114
114
115
116
250
251
251
251
251
251
252
252
360
2,000
2,000
-
2,000
4,000
2,000
2,000
(2,000)
24,300
(24,300)
38,000
(38,000)
24,400
(24,400)
21,000
(21,000)
29,350
(29,350)
(37,750)
37,750
(24,120)
24,120
(200,000)
200,000
(190,000)
190,000
36,500
28,400
8,400
12,600
36,500
-
6,300
2,000
77,500
53,200
40,000
-
2,000
40,000
2,000
16,000
8,400
24,400
21,000
21,000
29,350
29,350
8,400
29,350
37,750
29,350
29,350
3,120
21,000
29,350
53,470
100,000
300,000
-
100,000
300,000
190,000
190,000
11 C. Lahis Drawing
18 C. Lahis Drawing
6
7
8
20
24
26
27
Repair Income
Repair Income
Repair Income
Repair Income
Repair Income
Repair Income
Interest Income
1 Rent Expense
1 Repair Supplies Expense
1 Advertising Expense
1 Insurance Expense
9 Office Supplies Expense
27 Taxes and Licenses Expense
15 Salaries Expense
31 Salaries Expense
31 Interest Expense
361
361
470
470
470
470
470
470
471
580
581
582
583
584
585
586
587
587
588
12,000
2,000
14,000
48,950
2,000
36,500
28,400
22,500
12,600
150,950
28
28
12,000
12,000
6,000
6,000
15,000
15,000
6,000
6,000
3,120
3,120
2,500
2,500
4,850
4,850
16,000
8,000
24,000
12,000
12,000
1,999,496
1,999,496
14,000
(14,000)
(150,950)
150,950
(28)
28
12,000
(12,000)
6,000
(6,000)
15,000
(15,000)
6,000
(6,000)
3,120
(3,120)
2,500
(2,500)
4,850
(4,850)
24,000
(24,000)
12,000
(12,000)
TRIAL BALANCE
Cash
Notes Receivable
Accounts Receivable
Tools
Furnitures & fixtures
Office Equipment
Repair Equipment
Notes Payable
Accounts Payable
Loans Payable
C. Lahis, Capital
C. Lahis Drawing
Repair Income
Interest Income
Rent Expense
Repair Supplies Expense
Advertising Expense
Insurance Expense
Office Supplies Expense
Light & Water Expense
Taxes and Licenses Expense
Salaries Expense
Interest Expense
Total
110
111
112
113
114
115
116
251
251
252
360
361
470
471
580
581
582
583
584
585
586
587
588
364,328
2,000
24,300
38,000
24,400
21,000
29,350
37,750
24,120
200,000
190,000
14,000
150,950
28
12,000
6,000
15,000
6,000
3,120
2,500
4,850
24,000
12,000
602,848
602,848

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PROBLEM A (p.

2 Furnitures & Fixtures

3 Light & Water Expense

18 Furnitures & Fixtures

31 Taxes and Licenses

31 Accounts Payable (Leeman)

2 Furnitures & Fixtures

3 Light & Water Expense

31 Taxes and Licenses

PROBLEM A (p. 45)

1 Repair Supplies Expense

1 Furnitures & Fixtures

7 Furnitures & fixtures

9 Office Supplies Expense

13 Light & Water Expense

27 Taxes and Licenses Expense

1 Furnitures & Fixtures

1 Repair Supplies Expense

9 Office Supplies Expense

13 Light & Water Expense

27 Taxes and Licenses Expense

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