Selected transactions from the journal of Kati Tillman, investment broker, are presented below. Instructions (a) Post the
Question:
Selected transactions from the journal of Kati Tillman, investment broker, are presented below.
Instructions
(a) Post the transactions to T-accounts.
(b) Prepare a trial balance at August 31,2015.
Transcribed Image Text:
Date Account Titles and Explanation Ref. Debi Credit Aug.Cash 6,000 Common Stock 6,000 Investment of cash for stock) 10Cash 2,700 Service Revenue 2,700 (Received cash for services performed) 12 Equipment 5,000 Cash Notes Payable 800 4,200 (Purchased office equipment for cash and notes payable) 25 Account Receivable Service Revenue 1,600 1,600 (Billed clients for services performed) 31 Cash 880 Accounts Receivable 880 (Receipt of cash on account)
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a b KATI TILLMAN INVESTMENT BROKER Trial Balance August 31 2015 Debit Credit Cash 87...View the full answer
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Related Book For
Financial Accounting
ISBN: 9781118334324
9th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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A trial balance is a list of all the general ledger accounts contained in the ledger of a business. This list will contain the name of each nominal ledger account and the value of that nominal ledger balance. Each nominal ledger account will hold either a debit balance or a credit balance
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