Presented below is the ledger for Heerey Co.
Cash
No. 101
10/1 5,000 10/4 400
10/10 650 10/12 1,500
10/10 4,000 10/15 250
10/20 500 10/30 300
10/25 2,000 10/31 500
Accounts Receivable
No. 112
10/6 800
10/20
500
10/20 940
Supplies
No. 126
10/4 400
Furniture
No. 149
10/3 2,000
Notes Payable
No. 200
10/10
4,000
Accounts Payable
No. 201
10/12 1,500
10/3
2,000
Heerey, Capital
No. 301
10/1 5,000
10/25 2,000
Service Revenue
No. 407
10/6 800
10/10 650
10/20 940
Heerey, Drawing
No. 306
10/30 300
Store Wages Expense
No. 628
10/31 500
Rent Expense
No. 729
10/15 250
Instructions
(a) Reproduce the journal entries for the transactions that occurred on Oct 1, 10, and 20.
Date
Account/Description Debit Credit
Oct. 1
(Owner’s investment of cash in business.)
10
(Received Cash for services provided.)
10
(Obtained loan from bank.)
20
(Received cash in payment of account.)
20
(Billed clients for services provided.)
(b) Determine the October 31 balance for each of the accounts above, and complete the trial balance at October 31, 2010. (If answer is zero, please enter 0. Do not leave any fields blank.)
HEEREY CO.
Trial Balance
October 31, 2010
Debit Credit
Cash $ $
Accounts Receivable
Supplies
Furniture
Notes Payable
Accounts Payable
Heerey, Capital
Heerey, Drawing
Service Revenue
Store Wages Expense
Rent Expense
$