Prepare a general ledger using t-accounts

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Reference no: EM131823777

Question: Trial balance of Lacey Company on September 30.

The October transactions were as follows.

Oct. 5 Received $1,300 in cash from customers for accounts receivable due.

10 Billed customers for services performed $5,100.

15 Paid employee salaries $1,200.

17 Performed $600 of services in exchange for cash.

20 Paid $1,900 to creditors for accounts payable due.

29 Paid a $300 cash dividend. 31 Paid utilities $400.

Instructions: (a) Prepare a general ledger using T-accounts. Enter the opening balances in the ledger accounts as of October 1. Provision should be made for these additional accounts: Dividends, Service Revenue, Salaries and Wages Expense, and Utilities Expense.

(b) Journalize the transactions, including explanations.

(d) Prepare a trial balance on October 31, 2017.

Reference no: EM131823777

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