CONTINUING PROBLEM

- The following ledger accounts appear below, in this order:

Cash, Accounts Receivable, Supplies, Prepaid Insurance, Office Equipment, Accumulated Depreciation - Office Equipment, Accounts Payable, Wages Payable, Unearned Revenue, Pat Sharpe, Capital, Pat Sharpe, Drawing, and Income Summary

- Beginning balances from the textbook have already been entered. - The remaining accounts are found on the next page. An asterisk (*) will appear in the column to the right of an incorrect amount.

LEDGERS - Balance Sheet accounts Cash

Date 7/1 Balance Item Post Ref. Balance Dr. Cr. Dr. 3,920

Accounts Receivable
Date 7/1 Balance Item Post Ref. Balance Dr. Cr. Dr. 1,000

Supplies
Date 7/1 Balance Item Post Ref. Balance Dr. Cr. Dr. 170

Prepaid Insurance
Date Item Post Ref. Balance Dr. Cr. Dr.

Office Equipment
Date Item Post Ref. Balance Dr. Cr. Dr.

Accumulated Depreciation - Office Equipment

Date Item Post Ref. Balance Dr. Cr. Dr.

Accounts Payable
Date 7/1 Balance Item Post Ref. Balance Dr. Cr. Dr.

Wages Payable
Date Item Post Ref. Balance Dr. Cr. Dr.

Unearned Revenue
Date Item Post Ref. Balance Dr. Cr. Dr.

Peyton Smith, Capital

Date 7/1 Balance Item Post Ref. Balance Dr. Cr. Dr.

Peyton Smith, Drawing

Date 7/1 Balance Item Post Ref. Balance Dr. Cr. Dr. 500

Income Summary
Date Item Post Ref. Balance Dr. Cr. Dr.

on - Office Equipment,

nd Income Summary

11

Balance Cr.

12

Balance Cr.

14

Balance Cr.

15

Balance Cr.

17

Balance Cr.

18

Balance Cr.

21

Balance Cr. 250

22

Balance Cr.

23

Balance Cr.

31

Balance Cr. 4,000

32

Balance Cr.

33

Balance Cr.

CONTINUING PROBLEM
- The following ledger accounts appear below, in this order:
Fees Earned, Wages Expense, Office Rent Expense, Equipment Rent Expense, Utilities Expense, Music Expense, Advertising Expense, Supplies Expense, Insurance Expense, Depreciation Expense, and Miscellaneous Expense

- Beginning balances from the textbook have already been entered. - The remaining accounts are found on the next page. An asterisk (*) will appear in the column to the right of an incorrect amount.

LEDGERS - Income Statement accounts Fees Earned

Date 7/1 Balance Item Post Ref. Balance Dr. Cr. Dr.

Wages Expense
Date 7/1 Balance Item Post Ref. Balance Dr. Cr. Dr. 400

Office Rent Expense

Date 7/1 Balance Item Post Ref. Balance Dr. Cr. Dr. 800

Equipment Rent Expense

Date 7/1 Balance Item Post Ref. Balance Dr. Cr. Dr. 675

Utilities Expense
Date 7/1 Balance Item Post Ref. Balance Dr. Cr. Dr. 300

Music Expense
Date 7/1 Balance Item Post Ref. Balance Dr. Cr. Dr. 1,590

Advertising Expense
Date 7/1 Balance Item Post Ref. Balance Dr. Cr. Dr. 500

Supplies Expense
Date Item Post Ref. Balance Dr. Cr. Dr.

7/1

Balance

180

Insurance Expense
Date Item Post Ref. Balance Dr. Cr. Dr.

Depreciation Expense
Date Item Post Ref. Balance Dr. Cr. Dr.

Miscellaneous Expense
Date 7/1 Balance Item Post Ref. Balance Dr. Cr. Dr. 415

41

Balance Cr. 6,200

50

Balance Cr.

51

Balance Cr.

52

Balance Cr.

53

Balance Cr.

54

Balance Cr.

55

Balance Cr.

56

Balance Cr.

57

Balance Cr.

58

Balance Cr.

59

Balance Cr.