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

assignment_02.xlsx

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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:

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  • 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

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