The general ledger of Jay Consulting shows the following balances at July 31

M1 ♦ TRIAL BALANCE
The general ledger of Jay Consulting shows the following balances at July 31:
Cash    $4,440
Accounts receivable    5,780
Prepaid rent    1,200
Accounts payable    2,850
Salaries payable    475
Jay Blue, capital    7,486
Jay Blue, drawing    2,000
Consulting fees    6,920
Rent expense    600
Salary expense    2,600
Supplies expense    755
Utilities expense    196
Miscellaneous expense    160
Jay has asked you to develop a worksheet that will serve as a trial balance (file name PTB). Use the data provided as input for your model.
Review the Model-Building Problem Checklist on page 154 to ensure that your worksheet is complete. Print the worksheet when done. Check figure: Total debits, $17,731.
To test your model, use the following balances at August 31:
Cash    $7,527
Accounts receivable    4,287
Prepaid rent    600
Accounts payable    1,495
Salaries payable    400
Jay Blue, capital    8,095
Jay Blue, drawing    1,800
Consulting fees    8,820
Rent expense    600
Salary expense    2,800
Supplies expense    950
Utilities expense    221
Miscellaneous expense    25
Print the worksheet when done. Check figure: Total debits, $18,810.

Here’s the SOLUTION

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