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    Ingres Designs: Journalize transactions, post to ledger, prepare a trial balance.

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    On July 1, 2006 Leon Cruz established an interior design business, Ingres Designs. During the remainder of the month leon cruz completed the following transactionsrelated to the business.

    JULY 1----leon transfered cash from a personal account to an account to be used for business---18,000

    paid rent for period july 5--to end of month---1,500

    purchased a truck for 15,000. paying 5,000 in cash and giving a note payable for the remainder.

    purchased equipment on account---4,500.00

    purchased supplies for cash----975.00

    paid annual premiums on insurance----3,000

    recieved cash for job completed----4,100.00

    paid creditor a portion of the amount owed for equipment purchased on july 13---2,400.00

    recorded jobs completed on account and sent invoices to customers---6,100.00

    received an invoice for truck expenses to be paid in august 580.00

    paid utility expense---950.00

    paid miscellaneous expense---315.00

    received cash from customer on account---3,420.00

    paid wages for employees---2,500.00

    withdrew cash for personal use----2,000.00

    1. Journalize each transaction in a two column journal refering to the following:

    CASH

    ACCOUNTS RECEIVABLE

    SUPPLIES

    PREPAID INSURANCE

    EQUIPMENT

    TRUCK

    NOTES PAYABLE

    ACCOUNTS PAYABLE

    LEON CRUZ, CAPITAL

    LEON CRUZ DRAWING

    FEES EARNED

    WAGE EXPENSE

    RENT EXPENSE

    UTILITIES EXPENSE

    TRUCK EXPENSE

    MISCELLANEOUS EXPENSE

    2. post journal to a ledger of for column accounts, inserting appropriate posting references as each item is posted. extend the balances to the appropriate balance columns after each transaction is posted.

    Prepare a trial balance for Ingres Designs as of july 31, 2006

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    https://brainmass.com/business/trial-balance/ingres-designs-journalize-transactions-post-ledger-prepare-trial-balance-55501

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