A140/ACG1022 Section 14 Financial Accounting I – Winter 2013 Module 2

assignment_02.xlsx

Review the transactions for Smith Construction for the month of June in the 

Excel Template.

 The balances from May have been inserted in the T accounts.

Requirements:

• Journalize the transactions (explanations are not necessary).
• Post the transactions to the T accounts.
• Prepare a trial balance as of June 30.

2

>M2 Assignment

for the month of June. The balances from May have been inserted in the T accounts.

-Jun

00 of common stock to his brother for cash

,000 in cash

-Jun

00 cash for tools

-Jun

-Jun

0

-Jun

30-Jun

1

s

2

10

12

20

.

Bal

Bal 1,000 Bal

14

18

30

1,000 Bal

Bal

50

Bal.

Bal 1,000 Bal

3

Smith Construction
30-Jun
Account Debit Credit

Module 2 Assignment:

The following are the transactions for

Smith Construction

During June the following transactions occurred:

1

Smith sold $

50

5-Jun

Smith purchased supplies for $500 on account

7-Jun

Performed work on an addition and received $

20

10

Paid $

12

14

Built a deck for $15,000 and sent a bill to the customer

18

Paid off the accounts payable balance

22-Jun

Installed a garage door and opener for $5000 cash

24-Jun

Billed a customer $800 for a bid

26-Jun

Received $18000 from a customer on account

28-Jun

Had a delivery truck repaired $

1,000

3

Paid rent of $1000

30-Jun

Paid wages of $7,000

Paid $2500 in dividends

Requirements:

Journalize the transactions (explanations are not necessary).

Date

Account

Post Ref.

Debit

Credit

Post the transactions to the T accounts.

Cash

Accounts Receivable

Accounts Payable

Service Revenue

40

Bal

13,440

3,280

10,900

Supplies

Equipment

16

Tools

Common Stock

Bal.

24,000

36,000

Salary Expense

Rent Expense

52

Repair Expense

54

Dividends

32

3,780

1,400

Prepare a trial balance for Smith Construction as of June 30.

Trial Balance