ACCN 2010 Chapter 3 Homework Assignment

a.

A list of accounts and their balances at a given time.

                             Journal Posting Account Debit Accounting transactions Credit Trial balance Chart of accounts Ledger

b.

An accounting record in which transactions are initially recorded in chronological order.

                             Trial balance Chart of accounts Credit Account Accounting transactions Journal Posting Debit Ledger

c.

A record of all accounts maintained by a company and their amounts.

                             Trial balance Posting Ledger Credit Debit Accounting transactions Account Journal Chart of accounts

d.

An individual accounting record of increases and decreases in specific asset, liability, stockholders’ equity, revenue, or expense items.

                             Account Journal Posting Ledger Chart of accounts Credit Accounting transactions Debit Trial balance

e.

A list of the names of a company’s accounts.

                             Journal Ledger Debit Credit Account Chart of accounts Posting Accounting transactions Trial balance

f.

The right side of an account.

                             Accounting transactions Chart of accounts Trial balance Ledger Credit Account Debit Journal Posting

g.

The procedure of transferring journal entry amounts to the ledger accounts.

                             Trial balance Credit Journal Posting Account Ledger Chart of accounts Debit Accounting transactions

h.

The left side of an account.

                             Chart of accounts Posting Ledger Trial balance Journal Account Accounting transactions Debit Credit

i.

Events that require recording in the financial statements because they affect assets, liabilities, or stockholders’ equity.

                         Account Transcation

Apr. 1

Stockholders invested $24,930 cash in exchange for common stock of the corporation.

1

Hired a secretary-receptionist at a salary of $519 per week, payable monthly.

2

Paid office rent for the month $1,246.

3

Purchased architectural supplies on account from Burmingham Company $1,800.

10

Completed blueprints on a carport and billed client $2,631 for services.

11

Received $969 cash advance from M. Jason to design a new home.

20

Received $3,878 cash for services completed and delivered to S. Melvin.

30

Paid secretary-receptionist for the month $2,076.

30

Paid $415 to Burmingham Company for accounts payable due.

SUNLAND COMPANY
Trial Balance
September 30, 2022

Debit

Credit

Cash

$ 23,220

Accounts Receivable

6,620

Supplies

4,850

Equipment

10,750

Accounts Payable

$ 8,820

Unearned Service Revenue

3,850

Common Stock

19,020

Retained Earnings

13,750

$45,440

$45,440

Oct. 5

Received $1,360 in cash from customers for accounts receivable due.

10

Billed customers for services performed $5,700.

15

Paid employee salaries $1,230.

17

Performed $640 of services in exchange for cash.

20

Paid $1,820 to creditors for accounts payable due.

29

Paid a $270 cash dividend.

31

Paid utilities $450.