Question

Below is the General Journal of Misa Plumbing Services for the month of July 2022. You are required

to post journal entries to general ledger and propare trial balance for the month of July 2022
MSAPLUMBING
General lournal
Page 1
time Particulars net Dobit Godin
juliaz ment Depense. so 10,000.00
cash 110 10.000.00
To record payment for rent
Aul-On cash no 21,400.00
Account Receivable 120 21.400.00
To record collections
julion Equipment zeo 61,000.00
Accounts People no 61,000 00
To record purchase of equipmen ton
account
Jul-12 Utslities expense zoo 2:300.00
can no 2.500.00
. I payment for telephone
201-20 prepaid insurance zao 10,000.00
cash zio le ooo.oo
Dayment for insurance
whz Equipment lao 83.500.00
Tubera.Capital 43.300.00
Additional lovestment
ukna Accounts Payable zio 20,000.00
cash 110 20.000.00
Particial payment to they Equipment
Salaries Expense sio 14,800.00
cash 110 14,800.00
Payment for hent
Jul-31 cash 220 72,300.00
Service Revenue 410 72:300.00
To record cash revenue
rubbing, mindrawal 320 21,500.00
cash iso 21.500.00
To record withdrawal

Answer 1

The question involves posting entries from the general journal to the general ledger and preparing a trial balance for Misa Plumbing Services. Each journal entry is posted to the respective ledger accounts, with debits equaling credits. The trial balance is then prepared to ensure the books are balanced.

Step-by-step explanation:

The question requires posting entries from the general journal to the general ledger accounts and preparing the trial balance as of July 31, 2022, for Misa Plumbing Services. For every journal entry, the corresponding debit and credit amounts will be posted to respective ledger accounts. After posting, a trial balance will be prepared, which involves listing all the accounts and their final debit or credit balances, ensuring that the total debits equal the total credits.

Here is an example of how to post one of the journal entries to the ledger:

• 
  
• For the entry on July 1, debit the Rent Expense account for $10,000 and credit the Cash account for the same amount.

After posting all the journal entries to their respective ledger accounts, you will compile the balances of each account to prepare a trial balance. For instance:

• 
  
• Rent Expense would show a debit balance of $10,000.
• 
  
• Cash would show a reduced balance, depending on all cash transactions.

All ledger accounts should then be totaled, and the sum of debits should be equal to the sum of credits if the entries have been recorded correctly. This process not only ensures that the books are balanced but also helps in detecting any errors that might have occurred during the accounting period.