In October, 2011, the first five transactions of Fine’s Maid Service, Corp., have been posted to the accounts as follows:

Requirements 

1. Prepare the journal entries that served as the sources for the five transactions. Include an explanation for each entry.
2. Prepare the trial balance of Fine’s Maid Service at October 31, 2011.

Transcribed Image Text:

Cash Supplies Equipment Building (1) $57,000 (3) 31,000 (4) 42,000 (5) 4,900 (2) 600 (5) 4,900 (3) 31,000 Accounts payable (2) 600 Note payable (4) 42,000 Common stock (1) $57,000