The May 31, 20XX, post-closing trial balance for the L&L Accounting Firm appears below. During...
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Accounting
The May 31, 20XX, post-closing trial balance for the L&L Accounting Firm appears below.
During June, the firm engaged in the following transactions:
1 Received an investment of cash from J. Long, $8,000.
3 Purchased office equipment with cash, $2,000.
4 Received office equipment transferred to the firm from J. Long, $1,800
7 Purchased extra office supplies with cash, $190
9 Completed bookkeeping services for Elliott Electric Company that amounted to $1,400
10 Paid the receptionist in cash for two weeks wages, $1,600
13 Paid the amount due to Office Depot for the office equipment purchased last month, $750
14 Accepted an advance in cash for services to be done for a new client, $2,200
15 Purchased a copier (office equipment) from Office Depot for $2,400, paying $400 in cash and agreeing to pay the rest in equal amounts over the next six months.
16 Performed consulting services and received a cash fee, $1,650.
17 Received payment on account from Sallys Salon for services performed last month, $3,200.
18 Paid amount due for the telephone bill that was received and recorded at the end of May, $260.
19 Performed consulting services for Sallys Salon and agreed to accept payment next month, $4,600.
20 Performed bookkeeping services for cash, $780.
23 Received and paid the utility bill for June, $340.
24 Paid the secretary for two weeks wages, $1,600.
27 Paid the rent for July in advance, $2,000.
28 Received the telephone bill for June, which is to be paid next month, $220.
30 Paid cash to J. Long as a withdrawal for personal expenses, $1,750.
With information provided above, how would I go about filling out this General Ledger for liability?
May' Closing balance is $20,700
General Ledger
Liabilities
Accounts Payable
Account No. 212
Post.
Balance
Date
Item
Ref.
Debit
Credit
Debit
Credit
20xx
Balance
June
Unearned Consulting Fees
Account No. 213
Post.
Balance
Date
Item
Ref.
Debit
Credit
Debit
Credit
20XX
Balance
June
Wages Payable
Account No. 214
Post.
Balance
Date
Item
Ref.
Debit
Credit
Debit
Credit
20XX
Balance
June
Owner' Equity
J. Long - Capital
Account No. 311
Post.
Balance
Date
Item
Ref.
Debit
Credit
Debit
Credit
20XX
Balance
June
Withdrawals
Account No. 312
Post.
Balance
Date
Item
Ref.
Debit
Credit
Debit
Credit
20XX
June
Income Summary
Account No. 313
Post.
Balance
Date
Item
Ref.
Debit
Credit
Debit
Credit
20XX
June
Consulting Fees Earned
Account No. 411
Post.
Balance
Date
Item
Ref.
Debit
Credit
Debit
Credit
20XX
June
Bookkeeping Fees Earned
Account No. 412
Post.
Balance
Date
Item
Ref.
Debit
Credit
Debit
Credit
20XX
June
Wage Expense
Account No. 511
Post.
Balance
Date
Item
Ref.
Debit
Credit
Debit
Credit
20XX
June
Utilities Expense
Account No. 512
Post.
Balance
Date
Item
Ref.
Debit
Credit
Debit
Credit
20XX
June
Telephone Expense
Account No. 513
Post.
Balance
Date
Item
Ref.
Debit
Credit
Debit
Credit
20XX
June
Rent Expense
Account No. 514
Post.
Balance
Date
Item
Ref.
Debit
Credit
Debit
Credit
20XX
June
Insurance Expense
Account No. 515
Post.
Balance
Date
Item
Ref.
Debit
Credit
Debit
Credit
20XX
June
Office Supplies Expense
Account No. 516
Post.
Balance
Date
Item
Ref.
Debit
Credit
Debit
Credit
20XX
June
Depreciation Expense - Office Equipment
Account No. 519
Post.
Balance
Date
Item
Ref.
Debit
Credit
Debit
Credit
20XX
June
Depreciation Expense - Office Furniture
Account No. 520
Post.
Balance
Date
Item
Ref.
Debit
Credit
Debit
Credit
20XX
June
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