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The journal of Ward Technology Solutions,includes the followingentries for May, 2012:

May 1 The business received cash of $75,000 and and gave capital tothe owner.
2 Purchased supplies of $500 on account.
4 Paid $53,000 cash for a building.
6 Performed service for customers and received cash, $2,600.
9 Paid $400 on accounts payable.
17 Performed service for customers on account, $2,500.
23 Received $1,900 cash on account from a customer.
31 Paid the following expenses: salary, $1,100; rent, $900.

Requirements
2. Open T-accounts using the following account numbers: Cash, 110;Accounts receivable, 120; Supplies, 130; Building, 140; Accountspayable, 210; Ward, capital, 310; Service revenue, 410; Rentexpense, 510; Salary expense, 520.

3. Post to the accounts. Write dates and journal references (useaccount numbers) in the accounts. Compute the balance of eachaccount after posting.


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Beverley Smith
Beverley SmithLv2
28 Sep 2019

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2. Open T-accounts using thefollowing account numbers: Cash, 110; Accounts
receivable, 120; Supplies, 130; Building,140; Accounts payable, 210; Ward,
capital, 310; Service revenue, 410; Rentexpense, 510; Salary expense, 520.
The journal of Ward TechnologySolutions,includes the following entries for
May, 2012:
May 1 The business received cash of $75,000 andand gave capital to the owner.
2 Purchased supplies of $500 onaccount.
4 Paid $53,000 cash for a building.
6 Performed service for customers andreceived cash, $2,600.
9 Paid $400 on accounts payable.
17 Performed service for customers onaccount, $2,500.
23 Received $1,900 cash on account from acustomer.
31 Paid the following expenses: salary,$1,100; rent, $900.

Req. 2 & 3
Cash Acct. 110
May 1 75,000
May 31 75,000
Accounts Receivable Acct.120
May 31 -
Supplies Acct. 130
May 31 -
Building Acct. 140
May 31 -
Accounts Payable Acct.210
May 31 -
Ward, capital Acct310
May 31 -
Service revenue Acct.410
May 31 -
Rent expense Acct.510
May 31 -
Salary expense Acct.520
May 31 -

On November 1, 2012 the following were the account balances ofSolo Sales and Service, Inc. The perpetual inventory method isused.

Debits Credits
Cash $4,795 Accumulated depreciation $1,000
Accounts Receivable 2,320 Accounts Payable 6,800
Supplies 1,000 Unearned Service Revenue 400
Equipment 40,000 Salaries Payable 550
Common Stock 11,000
Retained Earnings 28,365
$48,115 $48,115

During November the followingsummary transactions were completed.

Nov. 8

Paid $1,150 for salaries due employees, of which $550 is forOctober salaries payable and $600 is for November.

10

Received $1,400 cash from customers in payment of account.

11

Purchased merchandise on account from Midwest Wholesale Supplyfor $6,000, terms 2/10, n/30.

12

Sold merchandise on account for $4,500, terms 2/10, n/30. Thecost of the merchandise sold was $3,000.

15

Received credit from Midwest Wholesale Supply for merchandisereturned $200.

19

Received collections in full, less discounts, from customersbilled on sales of $4,500 on November 12.

20

Paid Midwest Wholesale Supply in full, less discount. (Don’tforget the return on the 15th.)

22

Received $1,300 cash for services performed in November.

25

Purchased equipment on account $3,000.

27

Purchased supplies on account $1,300.

28

Paid creditors $2,500 of accounts payable due.

29

Paid November rent $300.

29

Paid salaries $1,100.

29

Performed services on account and billed customers for servicesprovided $1,900.

29

Received $550 from customers for services to be provided in thefuture.

Adjustment data:

1.

Supplies on hand are valued at $1,600.

2.

Accrued salaries payable as of 11/30 are $500.

3.

Depreciation for the month is $750.

4.

$650 of the unearned service revenue has not been earned bymonth end.

Instructions

Enter the November 1 balances in ledger accounts. Use T accountsprovided on the next page.

Cash

Accounts Receivable

Supplies

Store Equipment

Accumulated Depreciation—

Store Equipment

Accounts Payable

Unearned

Service Revenue

Salaries Payable

Common Stock

Retained Earnings

General Ledger (Continued)

Income Summary

Below is the journal I completed. Based on this, please help meout to complete following worksheet and income statement, statementof retained earning, and balance sheet. (also, how do I close allthe accounts?)

Date Accounts and Explanation Debit Credit
12/2/14 Inventory 1,300
Account Payable 1,300
Purchased 10 Units of Software on Account for $1300
12/2/14 Salaries Payable 2,500
Cash 2,500
Paid Employees Salaries Owed
12/2/14 Account Receivable 3,200
Service Revenue 3,200
Provided Accounting Service on Account, $3200
12/5/14 Office Equipment 4,800
Account Payable 4,800
Purchased Office Equipment on Account, $4800
12/8/14 Supplies 950
Cash 950
Purchased Supplies for $950 Cash
12/10/14 Cash 3,000
Account Receivable 3,000
Received $3000 Payment on Account
12/11/14 Account Receivable 4,500
Sales Revenue 4,500
Sold 15 Units of Inventory on Account, $4500
12/11/14 Cost of goods sold 2,000
Inventory 2,000
12/11/14 Account Payable 1,200
Cash 1,200
Made Payment on Account
12/12/14 Inventory 2,400
Account Payable 2,400
Purchased Inventory on Account
12/14/14 Advertising Expense 375
Cash 375
Paid for Advertising
12/15/14 Cash 8,000
Service Revenue 8,000
Provided Accounting Service for Cash
12/16/14 Salaries Expense 2,500
Cash 2,500
Paid Salaries for December 1st-15th
12/17/14 Account Receivable 6,000
Service Revenue 6,000
Provided Accounting Service on Account
12/19/14 Account Receivable 3,000
Sales Revenue 3,000
12/19/14 Cost of goods sold 1,200
Inventory 1,200
12/22/14 Cash 2,500
Accounts Receivable 2,500
12/23/14 Accounts Payable 2,800
Cash 2,800
Made Payment on Account
12/24/14 Utility Expense 850
Cash 850
Paid Monthly Utility Bills
12/27/14 Cash 2,000
Unearned Service Revenue 2,000
(Advance Received against Services)
12/29/14 Cash 5,000
Service Revenue 5,000
Provided Accounting Service for Cash
12/30/14 Cash 15,000
Common Stock 1,000
Additional Paid in Capital 14,000
Issued 1000 shares of Common Stock
12/31/14 Dividend Payable 31,500
Cash 31,500
(Dividend paid)
12/31/14 Salary Expense 2,500
Adj Salary Payable 2,500
To accrue salary expense
12/31/14 Depreciation Expense - Building 7,500
Adj Accumulated Depreciation- Building 7,500
12/31/14 Depreciation Expense - Furniture 12,000
Adj Accumulated Depreciation - Furniture 12,000
12/31/14 Depreciation Expense - Equiptment 200
Adj Accumulated Depreciation - Equiptment 200
12/31/14 Supplies Expense 1,625
Adj Supplies 1,625
12/31/14 Cost of Inventories Sold 280
Adj Inventory 280
12/31/14 Unearned Revenue 500
Adj Revenue 500
12/31/14 Uncollectible Account Expense 167
Adj Allowance for Uncollectible Accounts 167
Service Revenue
Clo Retained Earnings
Retained Earnings
Clo Salary Expense
Supplies Expense
Depreciation Expense
Utilities Expense
Retained Earnings
Clo Dividends
Worksheet (I worked onit, but debit and credit balances are not correct. Please help meout to find errors and complete it correctly.)
Trial Balance Adjustments Adj. Trial Balance
Debit Credit Debit Credit Debit Credit
Cash 79,941 79,941
Accounts Receivable 26,200 26,200
Allowance for Unc. Accounts 900 167 1,067
Supplies 3,950 1,625 2,325
Inventory 4,700 280 4,420
Building 150,000 150,000
Accumulated Depreciation- Building 7,500 7,500
Furnishing 30,000 30,000
Accumulated Depreciation- Furnishings 12,000 12,000
Office Equipment 4,800 4,800
Accumulated Depreciation- Off. Equip. 200 200
Accounts Payable 5,700 5,700
Salary Payable - 2,500 2,500
Unearned Service Revenue 2,000 500 2,500
Stock, Common 19,000 19,000
Additonal Paid in Capital 166,000 166,000
Retained Earnings 40,000 40,000
Dividends 31,500 31,500
Service Revenue 142,700 142,700
Sales Revenue 23,000 23,000
Advertising Expense 8,174 8,174
Depreciation Expense - 19,700 19,700
Repairs & Maintenance Expense 10,675 10,675
Supplies Expense 3,560 3,560
Uncollectible Accounts Expense 900 167 1,067
Utilities Expense 6,500 6,500
Cost of Goods Sold 10,900 280 10,900
Salary Expense 57,500 2,500 60,000
Total $418,400 $410,200 $22,647 $24,772 $444,562 $427,367

Please help me! Thanks

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