Exercise 2-11 (Part Level Submission)
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Print by: Alfear Holmes
ACC557065VA016-1146-001: Financial Accounting / Week 2 Homework: Chapter 02
*Exercise 2-11 (Part Level Submission)
Presented below is the ledger for Sparks Co.
Cash
No. 101
10/1
5,000 10/4
400
10/10
650 10/12
1,500
10/10
3,000 10/15
280
10/20
500 10/30
300
10/25
2,000 10/31
500
Accounts Receivable
No. 112
10/6
800 10/20
10/20
940
500
Supplies
No. 126
10/4
400
Equipment
No. 157
10/3
2,000 Balance
Notes Payable
No. 200
10/10
3,000
Accounts Payable
No. 201
10/12
1,500 10/3
2,000
Common Stock
No. 311
10/1
5,000
10/25
2,000
Dividends
No. 332
10/30
300
Service Revenue
No. 400
10/6
800
10/10
650
10/20
940
Salaries and Wages Expense
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Exercise 2-11 (Part Level Submission)
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No. 726
10/31
500
Rent Expense
No. 729
10/15
280
*(a)
Your answer is correct.
Reproduce the journal entries for the transactions that occurred on October 1, 10, and 20 and provide
explanations for each. (Record entries in the order displayed in the T-Accounts. Credit account
titles are automatically indented when amount is entered. Do not indent manually.)
Date
Oct. 1
Account Titles and Explanation
Debit Credit
Cash
5000
Common Stock
(Issued shares of stock for cash)
Oct. 10 Cash
5000
650
Service Revenue
650
(Received cash for services provided)
Oct. 10 Cash
3000
Notes Payable
3000
(Obtained loan from bank)
Oct. 20 Cash
500
Accounts Receivable
(Received cash in payment of account)
Oct. 20 Accounts Receivable
500
940
Service Revenue
(Billed clients for services provided)
940
Attempts: 1 of 3 used
*(b)
Determine the October 31 balance for each of the accounts above, and prepare a trial balance at October
31, 2014.
SPARKS CO.
Trial Balance
October 31, 2014
Debit
$
Credit
$
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Exercise 2-11 (Part Level Submission)
$
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$
Attempts: 0 of 3 used
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