The Cameron Copy-Quick Company was recently set up by Joseph Cameron. The business' transactions during October, the
Question:
The Cameron Copy-Quick Company was recently set up by Joseph Cameron. The business' transactions during October, the first month of operations, are given:
Required:
a Set up the following general ledger T-accounts (and account numbers): Cash (101), GST Paid (108), Office Supplies (105), Prepaid Insurance (106), Land (110), Building (112), Copy Equipment (114), Office Furniture (118), Accounts Payable (201), Mortgage Payable (220) and J. Cameron, Capital (301).
b Record the preceding transactions in a general journal.
c Post the journal entries to the general ledger accounts and determine the ending account balances.
d Prepare a trial balance.
Step by Step Answer:
Accounting Information For Business Decisions
ISBN: 9780170253703
2nd Edition
Authors: Billie Cunningham, Loren A. Nikolai, John Bazley, Marie Kavanagh, Geoff Slaughter, Sharelle Simmons