CityBnB?s records showed the following beginning balances on July 31, 2020. Using the information provided and the

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CityBnB?s records showed the following beginning balances on July 31, 2020. Using the information provided and the analysis completed in QS 2-6 and QS 2-7, complete the following:

1. Post the journal entries to the general ledger using T-accounts. Include the date of each transaction next to your posting.

2. Calculate the balance in each T-account.

3. Prove the accounting equation (Assets = Liabilities + Equity).

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QS 2-6

Douglas Malone started CityBnB, which is a bed and breakfast in Vancouver. CityBnB offers accommodations and breakfast to travellers exploring the city. The following are the transactions for the month of August.

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QS 2-7

Using the information and analysis prepared in QS 2-6, prepare the journal entries for the month of August. Use the following template. Ensure to include the date, the account descriptions, the debit and credit amount, and a description of the journal entry. The first transaction has been completed for you.

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Fundamental Accounting Principles Volume I

ISBN: 978-1260305821

16th Canadian edition

Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann

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