(Learning Objectives 2, 3, 4: Understanding how accounting works; journalizing transactions; posting; preparing and using a trial balance) During the fi rst month of operations, O’Shea Plumbing, Inc., completed the following transactions:

❙ Requirements 1. Record each transaction in the journal. Key each transaction by date. Explanations are not required.
2. Post the transactions to the T-accounts, using transaction dates as posting references.
3. Prepare the trial balance of O’Shea Plumbing, Inc., at January 31 of the current year.
4. The manager asks you how much in total resources the business has to work with, how much it owes, and whether January was profi table (and by how much).