FINANCE

Required:
1.
Prepare journal entries to record each of the January through March transactions. (In cases where no entry is required, please select the option “No journal entry required” for your answer to grade correctly. Leave no cells blank – be certain to enter “0” wherever required. Do not round intermediate calculations. Round your final answers to the nearest dollar amount. Omit the “$” sign in your response.)

Date General Journal Debit Credit
Jan. 4

5

7

9

11

13

13

15

16

17

20

22

24

26

26

26

29

31

Feb. 1

3

5

11

15

23

23

26

27

Mar. 8

9

11

16

19

24

25

25

30

30

31

2.
Post the journal entries in part 1 to the accounts in the company’s general ledger. (Note: Begin with the ledger’s post-closing adjusted balances as of December 31, 2011.) (Do not round intermediate calculations. Round your final answers to the nearest dollar amount. Leave no cells blank – be certain to enter “0” wherever required. Omit the “$” sign in your response.)
General Ledger Accounts

Cash Acct. No. 101
Date Debit Credit Balance
Dec. 31
Jan. 4
5
9
15
16
17
22
31
Feb. 1
3
5
11
15
26
27
Mar. 9
11
16
19
31

Accounts Receivable—Alex’s Engineering Co. Acct. No. 106.1
Date Debit Credit Balance
Dec. 31
Jan. 11
Feb. 11

Accounts Receivable—Wildcat Services Acct. No. 106.2
Date Debit Credit Balance
Dec. 31
Mar. 25

Accounts Receivable—Easy Leasing Acct. No. 106.3
Date Debit Credit Balance
Dec. 31
Mar. 24

Accounts Receivable—IFM Co. Acct. No. 106.4
Date Debit Credit Balance
Dec. 31
Mar. 30

Accounts Receivable—Liu Corporation Acct. No. 106.5
Date Debit Credit Balance
Dec. 31
Jan. 13
20
22

Accounts Receivable—Gomez Co. Acct. No. 106.6
Date Debit Credit Balance
Dec. 31
9

Accounts Receivable—Delta Co. Acct. No. 106.7
Date Debit Credit Balance
Dec. 31
Feb. 23
Mar. 9

Accounts Receivable—KC, Inc. Acct. No. 106.8
Date Debit Credit Balance
Dec. 31
Jan. 26

Accounts Receivable—Dream, Inc. Acct. No. 106.9
Date Debit Credit Balance
Dec. 31

Merchandise Inventory Acct. No. 119
Date Debit Credit Balance
Dec. 31
Jan. 7
13
15
17
24
26
26
Feb. 3
23
Mar. 25
30

Computer Supplies Acct. No. 126
Date Debit Credit Balance
Dec. 31
Mar. 8

Prepaid Insurance Acct. No. 128
Date Debit Credit Balance
Dec. 31

Prepaid Rent Acct. No. 131
Date Debit Credit Balance
Dec. 31
Feb. 1

Office Equipment Acct. No. 163
Date Debit Credit Balance
Dec. 31

Accumulated Depreciation—Office Equipment Acct. No. 164
Date Debit Credit Balance
Dec. 31

Computer Equipment Acct. No. 167
Date Debit Credit Balance
Dec. 31

Accumulated Depreciation—Computer Equipment Acct. No. 168
Date Debit Credit Balance
Dec. 31

Accounts Payable Acct. No. 201
Date Debit Credit Balance
Dec. 31
Jan. 7
17
24
26
Feb. 3
Mar. 8
19

Wages Payable Acct. No. 210
Date Debit Credit Balance
Dec. 31
Jan. 4

Unearned Computer Services Revenue Acct. No. 236
Date Debit Credit Balance
Dec. 31
Jan. 11

Common Stock Acct. No. 301
Date Debit Credit Balance
Dec. 31
Jan. 5

Retained Earnings Acct. No. 318
Date Debit Credit Balance
Dec. 31

Dividends Acct. No. 319
Date Debit Credit Balance
Feb. 15

Computer Services Revenue Acct. No. 403
Date Debit Credit Balance
Jan. 11
16
Mar. 16
24

Sales Acct. No. 413
Date Debit Credit Balance
Jan. 13
26
Feb. 23
Mar. 25
30

Sales Returns and Allowances Acct. No. 414
Date Debit Credit Balance
Jan. 20

Sales Discounts Acct. No. 415
Date Debit Credit Balance
Jan. 22

Cost of Goods Sold Acct. No. 502
Date Debit Credit Balance
Jan. 13
26
Feb. 23
Mar. 25
30
Depreciation Expense—Office Equipment Acct. No. 612
Date Debit Credit Balance
Depreciation Expense—Computer Equipment Acct. No. 613
Date Debit Credit Balance
Wages Expense Acct. No. 623
Date Debit Credit Balance
Jan. 4
31
Feb. 26

Insurance Expense Acct. No. 637
Date Debit Credit Balance

Rent Expense Acct. No. 640
Date Debit Credit Balance
Computer Supplies Expense Acct. No. 652
Date Debit Credit Balance
Advertising Expense Acct. No. 655
Date Debit Credit Balance
Feb. 5
Mileage Expense Acct. No. 676
Date Debit Credit Balance
Feb. 27
Mar. 31
Miscellaneous Expenses Acct. No. 677
Date Debit Credit Balance
Repairs Expense—Computer Acct. No. 684
Date Debit Credit Balance
Mar. 11

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