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P2-30A Journalizing transactions, posting journal entries to T-accounts, and preparing a trial balance
Learning Objective 3, 4
4. Total Debits $55,900
Doris Stann started her practice as a design consultant on September 1, 2017. During the first month of operations, the business completed the following transactions:
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Requirements
1. Record each transaction in the journal using the following account titles: Cash; Accounts Receivable; Office Supplies; Prepaid Insurance; Furniture; Land; Accounts Payable; Utilities Payable; Unearned Revenue; Stann, Capital; Stann, Withdrawals; Service Revenue; Salaries Expense; Rent Expense; Utilities Expense. Explanations are not required.
2. Open a T-account for each of the accounts. 3. Post the journal entries to the T-accounts, using transaction dates as posting
references in the ledger accounts. Label the balance of each account Bal. 4. Prepare the trial balance of Doris Stann, Designer, as of September 30, 2017.
P2-31A
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