- S2 10 Nancy Carpenter Optical Dispensary Bought Supplies On Account For 10 000 On Sep Tember 8 On September 22 The C 1 (175.74 KiB) Viewed 41 times
S2-10 Nancy Carpenter Optical Dispensary bought supplies on account for $10,000 on Sep- tember 8. On September 22, the
company paid $4,000 on account. 1. Journalize the two transactions for Nancy Carpenter Optical Dispensary. Include an explanation for each transaction. 2. Open the Accounts Payable T-account and post to Accounts Payable. Compute the balance and denote it as Bal. S2-11 On October 5, Tina Serelio performed legal services for a client who could not pay immediately. The business expected to collect the $12,000 the following month. On November 4, the business received $5,500 cash from the client. 1. Record the two transactions for Tina Serelio, Lawyer. Include an explanation for each transaction. 2. Open these T-accounts: Cash; Accounts Receivable; Service Revenue. Post to all three accounts. Compute each account's balance and denote it as Bal. 3. Answer these
questions based on your analysis: a. How much did the business earn? Which account shows this amount? b. How much in total assets did the business acquire as a result of the two transac- tions? Identify each asset and show its amount. S2-12 Calculate the account balance for each of the following T-accounts: Accounts Receivable Cash Accounts Payable 2,700 2,700 67,500 4,200 1,100 4,800 5,800 1,100 16,800 12,300 700 4,900 850 4,090 S2-13 Compute the missing amount represented by X in each account: R. Glennie, Capital Accounts Receivable 22,000 Bal. X Bal. 21,800 X 56,000 55,100 15,000 Bal. 47,000 Bal. 73,000 S2-14 Use the information shown below to prepare the unadjusted trial balance for Balzy Indoor Tennis Club at November 30, 2020. Include the account number in the trial balance. Balzy Indoor Tennis Club General Ledger Stan Accounts Balzy, Cash 10002 Furniture 17500 Payable Capital 30001 5,000 150 5,500 3,000 27,000 12,600 800 3,000 955 475 6,200 290 Sales Stan Balzy, Withdrawals Revenue 40001 Rent Expense 53200 4,000 1,200 5,500 Chapter 2 Recording Busi 30002 20001 9,640 100 Supplies Expense 2,500 51200 (3) (4) Journaliz posting t (3) (4) Journaliz posting t 3. a. Earne Calculate balances Find miss (4 5 Preparing T-accour Total, $36,