Associate Level Material

Appendix C Journalizing, Posting, and Preparing a Trial Balance

Journalizing the Transactions
Use this template to journalize the transactions for Jane Kent, Inc. The first two lines are completed for you. You might not require all the lines provided.

DATE May 1 May 3 May 7 May 11 May 12 May 17 May 31 May 31

GENERAL JOURNAL ACCOUNT TITLE AND EXPLANATION Cash Common Stock Supplies Accounts Payable Rent Expense Cash Accounts Recievable Service Revenue Cash Unearned Revenue Cash Service Revenue Salaries Expense Cash Accounts Payable (Read Supply Company 40%) Cash

REF. DEBIT 101 25,000 311 126 2,500 201 729 900 101 112 2,100 400 101 3,500 205 101 1,200 400 726 2000 101 201 1,000 101

J1 CREDIT 25,000 2,500 900 2,100 3,500 1,200 2,000 1,000

a) General Journal

Associate Level Material

Appendix C Journalizing, Posting, and Preparing a Trial Balance
Posting the Accounts
Post the ledger accounts for Jane Kent, Inc. on this General Ledger. The first line of the cash account is completed for you. Complete the remaining lines in the cash account, and the other eight accounts. You have nine accounts altogether.

GENERAL LEDGER Cash DATE May 1 May 7 May 12 May 17 May 31 May 31

EXPLANATION

REF. DEBIT CREDIT 101 25,000 101 900 101 3,500 101 1,200 101 2,000 101 1,000

Accounts Receivable DATE EXPLANATION May 11 Supplies DATE May 3

REF. DEBIT CREDIT 112 2,100

EXPLANATION

REF. DEBIT CREDIT 126 2,500.00

Accounts Payable DATE EXPLANATION May 3 May 31 Unearned Revenue DATE EXPLANATION May 12 Common Stock DATE EXPLANATION May 1 Service Revenue DATE EXPLANATION May 11 May 17 Salaries Expense

REF. DEBIT CREDIT 201 2,500 201 1,000

REF. DEBIT 205

CREDIT 3,500

REF. DEBIT 311

CREDIT 25,000

REF. DEBIT 400 400

CREDIT 2,100 1,200

b) Ledger Accounts

DATE May 31

EXPLANATION

REF. DEBIT CREDIT 726 2,000

Rent Expense DATE EXPLANATION May 7

REF. DEBIT CREDIT 729 900

b) Ledger Accounts

aring a Trial Balance

this General Ledger. The first line of the cash account is completed for you. nt, and the other eight accounts. You have nine accounts altogether.

No. 101 BALANCE 25,000 24,100 27,600 28,800 26,800 25,800 No. 112 BALANCE 2,100 No. 126 BALANCE 2,500.00 No. 201 BALANCE 2,500 1,500 No. 205 BALANCE 3,500 No. 311 BALANCE 25,000 No. 400 BALANCE 2,100 3,300 No. 726
b) Ledger Accounts

BALANCE 2,000 No. 729 BALANCE 900

b) Ledger Accounts

Associate Level Material

Appendix C Journalizing, Posting, and Preparing a Trial Balance
Preparing a Trial Balance
Prepare a trial balance dated May 31, 2008 for Jane Kent, Inc. Debit and Credit totals are double-underlined. You can place summation formulas in F17 and G17 to compute debit and credit totals. Otherwise, you can compute totals using a calculator, then enter totals directly.

JANE KENT, INC. Trial Balance

31-May-08 Cash Accounts Receivable Supplies Accounts Payable Unearned Revenue Common Stock Service Revenue Salaries Expense Rent Expense Totals DEBIT CREDIT 25,800 2,100 2,500 1,500 3,500 25,000 3,300 2,000 900 33,300 33,300

c) Trial Balance