Question

Oct.1: Purchased additional office supplies on account from Paper Co., $850.
Oct.2: Paid Chicago times advertising bill for September, $900.
Oct. 3: Sold a house to Helen Baker and collected a commission of $7,300.
Oct. 6: Paid gas bill to Haffner Gas Co., $29.
Oct. 8: Collected commission from Tropic Developers for sale of building lot on September 17, $10,000.
Oct. 12: Paid $530 to Long Realtors Assoc. to send employees to realtors' workshop.
Oct. 15: Paid Rosie Petrillo, office secretary, $300.
Oct. 17: Sold a house to Gary Schneider and earned a commission of $2,900. Commission to be received on November 10.
Oct. 18: Sold a building lot to Lombardi Builders and collected a commission of $4,500.
Oct. 22: Sent a check to Heritage Charities for $65 to help sponsor a local road race to aid the poor.
Oct. 24: Paid Hyundai North $620 for repairs to automobile due to accident.
Oct. 28: James Sousa withdrew $2,200 from the business to pay personal expenses.
Oct. 30: Paid Rosie Petrillo, office secretary, $300.
Oct. 30: Paid Comcast telephone bill, $480.
Oct. 30: Advertising bill from Chicago Times for October, $1,300.

1. Journalize transactions in a general journal (p.4) and post to ledger accounts.
2. Prepare a trial balance in the first two columns of a blank, fold-out worksheet located at the end of your textbook at the end of your textbook and complete the worksheet using the following data: a) One month's rent had expired. Paid 5 months' rent in advance on September 1, $1,000. b) An inventory shows $130 of office supplies remaining. c) Depreciation on office equipment, $160. d) Depreciation on automobile, $210.
3. Prepare an October income statement, statement of owner's equity, and balance sheet.
4. From the worksheet, journalize and post adjusting and closing entries (p. 6 of journal).
5. Prepare a post-closing trial balance.

Please HELP!

What the answers should match these:
Cash Ledger Ending Balance for October: 38,921
Debit . Credit
Worksheet: Trial Balance 73,395 73,395
Adjustments 1,390 1,390
Adj. Trial Balance 73,765 73,765
Income statement 5,014 14,700
Net Income 9,686

Matching Totals 14,700 14,700

Balance Sheet 68,751 59,065
Net Income 9,686
Matching Totals 68,751 68,751

Income Statement-Net Income 9,686

Statement of Owner's Equity
James Sousa, Capital Oct. 31 44,411

Balance Sheet 65,811

Post Closing Trial Balance Totals or October 66,551

Answer 1

1)

Journal Entries

Supplies on Hand a/c Dr. To Accounts Payables	850	850
Advertisement a/c Dr. To Cash	900	900
Cash a/c Dr. To Commision	7300	7300
Haffner Gas Co. a/c Dr. To cash	29	29
Cash a/c Dr. To Commission	10,000	10,000
Long Realtors Assosiation a/c Dr. To Cash	530	530
Salary & Wages a/c Dr. To cash	300	300
Account receivables a/c Dr. To Commision	2900	2900
Cash a/c Dr. To Commision	4500	4500
Charity a/c Dr. To Bank	65	65
Repairs a/c Dr. To cash	620	620
Drawings a/c Dr. To Cash / Inventory	2200	2200
Salary & wages a/c Dr. To cash	300	300
Telephone Bill a/c Dr. To cash	480	480
Advertisment a/c Dr. To Account payables	1300	1300