[SOLVED] The books have been closed for the

The books have been closed for the first year of business for Smith Computer Center. The company ended up with a marginal profit for the first three months in operation. Thad expects faster growth as he enters a busy season. Following is a list of transactions for the month of October. Petty Cash account #1010 and Miscellaneous Expense account #5100 have been added to the chart of accounts.

three months of bank statements. A list of all deposits and checks written for the past three months (each entry is identified by chapter, transaction date, or transaction letter) and the bank statements for July through September are provided. The statement for October wonâ€™t arrive until the first week of November. Assignment 1. Record the transactions in general journal and auxiliary petty cash record. 2. Post the transactions to the general ledger accounts. 3. Prepare a trial balance. 4. Compare the Smith Computer Centerâ€™s deposits and checks with the bank statements and complete a bank reconciliation as of September 30, 201X.

Bank Statement

Bank Statement

Bank Statement

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Oct. 1 Paid rent for November, December, and January, $1,500 (check no. 8108). 2 Established a petty cash fund for $300. 4 Collected $4,600 from a cash customer for building five systems. 5 Collected $2,700, the amount due from Dr. Michael Turiono's invoice no. 12674, customer on account. 6 Purchased $40 worth of stamps using petty cash voucher no. 101. 7 Withdrew $900 (check no. 8109) for personal use. 8 Purchased $25 worth of supplies using petty cash voucher no. 102. 12 Paid the newspaper carrier $15 using petty cash voucher no. 103. Paid the amount due on the August phone bill, $35 (check no. 8110). (Recorded on Sept. 20) Paid the amount due on the August electric bill, $85 (check no. 8111). (Recorded on Sept. 22) 16 17 22 Performed computer services for Phil's Photography; billed the client $5,400 (invoice no. 12675). 23 Paid $20 for computer paper using petty cash voucher no. 104. 30 Took $15 out of petty cash for lunch, voucher no. 105. 31 Replenished the petty cash. Coin and currency in drawer total $185. Smith Computer Center Summary of Deposits and Checks Deposits Payor/Payee Chapter Transaction Amount 1 Thad Feldman $6,000 a 1 f Cash customer 800 Phil's Photography 1 i 1,800 1 Cash customer 600 2 Cash customer 1,300 3 Sept. 2 Tonya Parker Jones 420 Sept. 6 Lilly Life 150 3 3 Sept. 12 Erin Caffrey 1,700 Sept. 26 Howard Trale 750 Checks Chapter Transaction Check # Payor/Payee Amount 1 b 8095 A-Tech, Inc. $1,800 8096 Bertha and Pac Furniture, Inc. 3,300 1 1 8097 Chapin Corp. 500 e 1 8098 Thad Feldman 175 2 8099 Insurance Protection, Inc. 450 2 8100 The Staple Store 150 2 8101 Computer Edge Magazine 900 2 8102 San Diego Electric 75 U.S. Postmaster r 8103 70 Sept. 1 8104 Chapin Corp. 1,500 3 Sept. 8 8105 Pacific Bell USA 80 3 Sept. 15 8106 Computers R Us 300 3 Sept. 17 8107 A-Tech, Inc. 2,100 2. 3. First Union Bank 322 Glen Ave. Escondido, CA 92025 Smith Computer Center Statement Date: July 22, 201X Checks Paid: Deposits and Credits: Date paid Number Аmount Date received Amount 7-4 8095 1,800.00 7-1 6,000.00 7-7 8096 3,300.00 7-10 800.00 7-15 8097 500.00 7-20 1,800.00 7-21 600.00 Total 3 checks paid for $5,600.00 Total Deposits $9,200.00 Ending balance on July 22–$3,600.00 Received statement July 29, 201X. First Union Bank 322 Glen Ave. Escondido, CA 92025 Smith Computer Center Statement Date: August 21, 201X Checks Paid: Deposits and Credits: Date paid Number Amount Date received Amount 8-2 8098 175.00 8-12 1,300.00 8-3 8099 450.00 8-10 8100 150.00 8-15 8101 900.00 8-20 8102 75.00 Total 5 checks paid for $1,750.00 Total Deposits $1,300.00 Beginning balance on July 22–$3,600.00 Ending balance on August 21–$3,150.00 Received statement August 27, 201X. First Union Bank 322 Glen Ave. Escondido, CA 92025 Smith Computer Center Statement Date: September 30, 201x Checks Paid: Deposits and Credits: Date paid Number Amount Date received Amount 9-2 8103 70.00 9-4 420.00 9-6 8104 1,500.00 9-7 150.00 9-12 8105 80.00 9-14 1,700.00 Total 3 checks paid for $1,650.00 Total Deposits $2,270.00 Beginning balance on August 21 Ending balance on September 30 $3,150.00 $3,770.00 Received statement September 30, 201X.

Question: The books have been closed for the

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