Transactions analysis and trail balance make t-accounts for

Reference no: EM13378026

Transactions Analysis and Trail Balance: Make T-Accounts for the following accounts that appear in the general ledger of Daniel Kelly, an attorney: Cash, Accounts Receivable, Office Equipment, Legal Database Subscription, Accounts Payable, Common Stock, Dividends, Legal Fees Earned, Salaries Expense, Rent Expense, and Utilities Expense. Prepare journal entries and record the following October transactions in the T-Accounts and key all entries with the number identifying the transaction. Determine the balance in each account and prepare a trail balance sheet as of October 31.

Oct.

1 - Kelly started his practice by contributing $19,500 cash to the business on October 1, receiving shares of common stock in the company.

2 -Purchased office equipment on account, $10,400.

3 -Paid office rent for October, $700.

4 - Paid $9,600 to access online legal database for two years.

5 - Billed clients for services rendered, $11,300

6 - Made $6,000 payment on account for the equipment purchased on October 2.

7 - Paid legal assistant's salary, $2,800.

8 - Collected $9,400 from clients previously billed for services.

9 - Received invoice for October utilities, $180; it will be paid in November.

10 - The company paid stockholders $1,500 as a cash dividend.

Reference no: EM13378026

Questions Cloud

You observe an olympic athlete in the long-jump suppose the : you observe an olympic athlete in the long-jump. suppose the distance of each jump is a random variable that follows a

1 in a market system well-defined property rights are : 1. in a market system well-defined property rights are important because theyreduce unnecessary investment. limit

1a positive statement is one which isderived by induction : 1. a positive statement is one which isderived by induction. derived by deduction. subjective and is based on

Suppose that the average prices of refrigerators have : suppose that the average prices of refrigerators have fallen over the past few years yet the refrigerator companies

Transactions analysis and trail balance make t-accounts for : transactions analysis and trail balance make t-accounts for the following accounts that appear in the general ledger of

A job order cost accounting system is fully integrated into : a job order cost accounting system is fully integrated into the general ledger of a company. identify the major general

Your company bright paints is one of a dozen companies : your company bright paints is one of a dozen companies manufacturing a special reflective paint used for traffic signs.

In the old days lighthouses were built along the coast to : in the old days lighthouses were built along the coast to prevent ships from runnung around on the rocks in unfamiliar

The supply curve for product x is given by qxs -340 10px : the supply curve for product x is given by qxs -340 10px .a. find the inverse supply curve.p qb. how much surplus

User Account

All Pages