Question

the following transactions occurred for ward technology solutions:
view the transactions. view the journal entries.
read the requirement. (compute the new balance for each account after posting the transaction.)

may 20
cash 110 1,900
unearned revenue 220 1,900
collected cash for future services.

may 21: paid $800 for advertising in next months it technology magazine. post to the four-column accounts in this step. in the next step, journalize the transaction in the journal.

cash account # 110
date | posting reference | debit | credit | balance debit | balance credit
may 1 | j10 | 100,000 | | 100,000 |
may 4 | j10 | | 57,000 | 43,000 |
may 6 | j10 | 2,100 | | 45,100 |
may 9 | j10 | | 250 | 44,850 |
may 19 | j10 | | 1,500 | 43,350 |
may 20 | j10 | 1,900 | | 45,250 |
may 21 | 110 | | | |

prepaid advertising account # 140
date | posting reference | debit | credit | balance debit | balance credit
may 21 | | | | |

Explanation:

Calculate the new Cash account balance

$$
LATEXBLOCK0
$$

Determine the Prepaid Advertising ledger entries

$$
LATEXBLOCK1
$$

Answer:

Cash (Account # 110)

For the May 21 row:

• Posting Reference: 110
• Credit: 800
• Balance (Debit): 44,450

Prepaid Advertising (Account # 140)

For the May 21 row:

• Posting Reference: J10
• Debit: 800
• Credit: [Leave Blank]
• Balance (Debit): 800
• Balance (Credit): [Leave Blank]