This is the trial balance of Blossom Company on September 30. BLOSSOM...

90.2K

Verified Solution

Question

Accounting

This is the trial balance of Blossom Company on September 30.

BLOSSOM COMPANY Trial Balance September 30, 2022
Debit Credit
Cash $23,580
Accounts Receivable 6,980
Supplies 4,960
Equipment 10,860
Accounts Payable $9,180
Unearned Service Revenue 3,960
Common Stock 19,380
Retained Earnings 13,860
$46,380 $46,380

The October transactions were as follows.

Oct. 5 Received $1,420 in cash from customers for accounts receivable due.
10 Billed customers for services performed $5,300.
15 Paid employee salaries $1,290.
17 Performed $560 of services in exchange for cash.
20 Paid $1,950 to creditors for accounts payable due.
29 Paid a $350 cash dividend.
31 Paid utilities $390.

(a)

Correct answer icon

Your answer is correct.

Prepare a general ledger using T-accounts. Enter the opening balances in the ledger accounts as of October 1.

Cash

choose a transaction date 10/1 Bal.10/510/1010/1510/1710/2010/2910/31

enter the opening balance for Cash

choose a transaction date 10/1 Bal.10/510/1010/1510/1710/2010/2910/31

enter the opening balance for Cash
Accounts Receivable

choose a transaction date 10/1 Bal.10/510/1010/1510/1710/2010/2910/31

enter the opening balance for Accounts Receivable

choose a transaction date 10/1 Bal.10/510/1010/1510/1710/2010/2910/31

enter the opening balance for Accounts Receivable
Supplies

choose a transaction date 10/1 Bal.10/510/1010/1510/1710/2010/2910/31

enter the opening balance for Supplies

choose a transaction date 10/1 Bal.10/510/1010/1510/1710/2010/2910/31

enter the opening balance for Supplies
Equipment

choose a transaction date 10/1 Bal.10/510/1010/1510/1710/2010/2910/31

enter the opening balance for Equipment

choose a transaction date 10/1 Bal.10/510/1010/1510/1710/2010/2910/31

enter the opening balance for Equipment
Accounts Payable

choose a transaction date 10/1 Bal.10/510/1010/1510/1710/2010/2910/31

enter the opening balance for Accounts Payable

choose a transaction date 10/1 Bal.10/510/1010/1510/1710/2010/2910/31

enter the opening balance for Accounts Payable
Unearned Service Revenue

choose a transaction date 10/1Bal.10/510/1010/1510/1710/2010/2910/31

enter the opening balance for Unearned Service Revenue

choose a transaction date 10/1 Bal.10/510/1010/1510/1710/2010/2910/31

enter the opening balance for Unearned Service Revenue
Common Stock

choose a transaction date 10/1Bal.10/510/1010/1510/1710/2010/2910/31

enter the opening balance for Common Stock

choose a transaction date 10/1Bal.10/510/1010/1510/1710/2010/2910/31

enter the opening balance for Common Stock
Retained Earnings

choose a transaction date 10/1Bal.10/510/1010/1510/1710/2010/2910/31

enter the opening balance for Retained Earnings

choose a transaction date 10/1Bal.10/510/1010/1510/1710/2010/2910/31

enter the opening balance for Retained Earnings

eTextbook and Media

List of Accounts

Attempts: 1 of 3 used

(b)

Correct answer icon

Your answer is correct.

Journalize the transactions. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)

Date Account Titles and Explanation Debit Credit
choose a transaction date Oct. 5Oct. 10Oct. 15Oct. 17Oct. 20Oct. 29Oct. 31 enter an account title enter a debit amount enter a credit amount
enter an account title enter a debit amount enter a credit amount
choose a transaction date Oct. 5Oct. 10Oct. 15Oct. 17Oct. 20Oct. 29Oct. 31 enter an account title enter a debit amount enter a credit amount
enter an account title enter a debit amount enter a credit amount
choose a transaction date Oct. 5Oct. 10Oct. 15Oct. 17Oct. 20Oct. 29Oct. 31 enter an account title enter a debit amount enter a credit amount
enter an account title enter a debit amount enter a credit amount
choose a transaction date Oct. 5Oct. 10Oct. 15Oct. 17Oct. 20Oct. 29Oct. 31 enter an account title enter a debit amount enter a credit amount
enter an account title enter a debit amount enter a credit amount
choose a transaction date Oct. 5Oct. 10Oct. 15Oct. 17Oct. 20Oct. 29Oct. 31 enter an account title enter a debit amount enter a credit amount
enter an account title enter a debit amount enter a credit amount
choose a transaction date Oct. 5Oct. 10Oct. 15Oct. 17Oct. 20Oct. 29Oct. 31 enter an account title enter a debit amount enter a credit amount
enter an account title enter a debit amount enter a credit amount
choose a transaction date Oct. 5Oct. 10Oct. 15Oct. 17Oct. 20Oct. 29Oct. 31 enter an account title enter a debit amount enter a credit amount
enter an account title enter a debit amount enter a credit amount

eTextbook and Media

List of Accounts

(c)

Post to the ledger accounts. (Post entries in the order of information presented in the question.)

Cash
10/1 Bal. 23,580

choose a transaction date 10/110/510/1010/1510/1710/2010/2910/31Bal.

enter a credit amount

choose a transaction date 10/110/510/1010/1510/1710/2010/2910/31Bal.

enter a debit amount

choose a transaction date 10/110/510/1010/1510/1710/2010/2910/31Bal.

enter a credit amount

choose a transaction date 10/110/510/1010/1510/1710/2010/2910/31Bal.

enter a debit amount

choose a transaction date 10/110/510/1010/1510/1710/2010/2910/31Bal.

enter a credit amount

choose a transaction date 10/110/510/1010/1510/1710/2010/2910/31Bal.

enter a debit amount

choose a transaction date 10/110/510/1010/1510/1710/2010/2910/31Bal.

enter a credit amount

choose the end date of the accounting period 10/110/510/1010/1510/1710/2010/2910/31Bal.

enter a debit balance

choose the end date of the accounting period 10/110/510/1010/1510/1710/2010/2910/31Bal.

enter a credit balance
Accounts Receivable
10/1 Bal. 6,980

choose a transaction date 10/110/510/1010/1510/1710/2010/2910/31Bal.

enter a credit amount

choose a transaction date 10/110/510/1010/1510/1710/2010/2910/31Bal.

enter a debit amount

choose a transaction date 10/110/510/1010/1510/1710/2010/2910/31Bal.

enter a credit amount

choose the end date of the accounting period 10/110/510/1010/1510/1710/2010/2910/31Bal.

enter a debit balance

choose the end date of the accounting period 10/110/510/1010/1510/1710/2010/2910/31Bal.

enter a credit balance
Supplies
10/1 Bal. 4,960

choose a transaction date 10/110/510/1010/1510/1710/2010/2910/31Bal.

enter a credit amount

choose the end date of the accounting period 10/110/510/1010/1510/1710/2010/2910/31Bal.

enter a debit balance

choose the end date of the accounting period 10/110/510/1010/1510/1710/2010/2910/31Bal.

enter a credit balance
Equipment
10/1 Bal. 10,860

choose a transaction date 10/110/510/1010/1510/1710/2010/2910/31Bal.

enter a credit amount

choose the end date of the accounting period 10/110/510/1010/1510/1710/2010/2910/31Bal.

enter a debit balance

choose the end date of the accounting period 10/110/510/1010/1510/1710/2010/2910/31Bal.

enter a credit balance
Accounts Payable

choose a transaction date 10/110/510/1010/1510/1710/2010/2910/31Bal.

enter a debit amount 10/1 Bal. 9,180

choose the end date of the accounting period 10/110/510/1010/1510/1710/2010/2910/31Bal.

enter a debit balance

choose the end date of the accounting period 10/110/510/1010/1510/1710/2010/2910/31Bal.

enter a credit balance
Unearned Service Revenue

choose a transaction date 10/110/510/1010/1510/1710/2010/2910/31Bal.

enter a debit amount 10/1 Bal. 3,960

choose the end date of the accounting period 10/110/510/1010/1510/1710/2010/2910/31Bal.

enter a debit balance

choose the end date of the accounting period 10/110/510/1010/1510/1710/2010/2910/31Bal.

enter a credit balance
Common Stock

choose a transaction date 10/110/510/1010/1510/1710/2010/2910/31Bal.

enter a debit amount 10/1 Bal. 19,380

choose the end date of the accounting period 10/110/510/1010/1510/1710/2010/2910/31Bal.

enter a debit balance

choose the end date of the accounting period 10/110/510/1010/1510/1710/2010/2910/31Bal.

enter a credit balance
Retained Earnings

choose a transaction date 10/110/510/1010/1510/1710/2010/2910/31Bal.

enter a debit amount

10/1 13,860

choose the end date of the accounting period 10/110/510/1010/1510/1710/2010/2910/31Bal.

enter a debit balance

choose the end date of the accounting period 10/110/510/1010/1510/1710/2010/2910/31Bal.

enter a credit balance

Dividends

choose a transaction date 10/110/510/1010/1510/1710/2010/2910/31Bal.

enter a debit amount

choose a transaction date 10/110/510/1010/1510/1710/2010/2910/31Bal.

enter a credit amount

choose the end date of the accounting period 10/110/510/1010/1510/1710/2010/2910/31Bal.

enter a debit balance

choose the end date of the accounting period 10/110/510/1010/1510/1710/2010/2910/31Bal.

enter a credit balance
Service Revenue

choose a transaction date 10/110/510/1010/1510/1710/2010/2910/31Bal.

enter a debit amount

choose a transaction date 10/110/510/1010/1510/1710/2010/2910/31Bal.

enter a credit amount

choose a transaction date 10/110/510/1010/1510/1710/2010/2910/31Bal.

enter a debit amount

choose a transaction date 10/110/510/1010/1510/1710/2010/2910/31Bal.

enter a credit amount

choose the end date of the accounting period 10/110/510/1010/1510/1710/2010/2910/31Bal.

enter a debit balance

choose the end date of the accounting period 10/110/510/1010/1510/1710/2010/2910/31Bal.

enter a credit balance
Salaries and Wages Expense

choose a transaction date 10/110/510/1010/1510/1710/2010/2910/31Bal.

enter a debit amount

choose a transaction date 10/110/510/1010/1510/1710/2010/2910/31Bal.

enter a credit amount

choose the end date of the accounting period 10/110/510/1010/1510/1710/2010/2910/31Bal.

enter a debit balance

choose the end date of the accounting period 10/110/510/1010/1510/1710/2010/2910/31Bal.

enter a credit balance
Utilities Expense

choose a transaction date 10/110/510/1010/1510/1710/2010/2910/31Bal.

enter a debit amount

choose a transaction date 10/110/510/1010/1510/1710/2010/2910/31Bal.

enter a credit amount

choose the end date of the accounting period 10/110/510/1010/1510/1710/2010/2910/31Bal.

enter a debit balance

choose the end date of the accounting period 10/110/510/1010/1510/1710/2010/2910/31Bal.

enter a credit balance

(d)

Prepare a trial balance on October 31, 2022.

BLOSSOM COMPANY Trial Balance choose an accounting period October 31, 2022For the Month Ended October 31, 2022For the Year Ended October 31, 2022
Debit Credit
enter an account title $enter a debit balance $enter a credit balance
enter an account title enter a debit balance enter a credit balance
enter an account title enter a debit balance enter a credit balance
enter an account title enter a debit balance enter a credit balance
enter an account title enter a debit balance enter a credit balance
enter an account title enter a debit balance enter a credit balance
enter an account title enter a debit balance enter a credit balance
enter an account title enter a debit balance enter a credit balance
enter an account title enter a debit balance enter a credit balance
enter an account title enter a debit balance enter a credit balance
enter an account title enter a debit balance enter a credit balance
enter an account title enter a debit balance enter a credit balance
$enter a total for the debit column $enter a total for the credit column

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students