After several seasons of World Team tennis competition, Anne Peckham had saved enough money to start her own tennis school, to be known as Rancho Tennis College.

During June, while organizing the business, Peckham kept only an informal record of transactions in the form of T accounts which she maintained on a large blackboard.

Peckham asks you to develop from the T accounts a ledger using the standard three-column running balance form of accounts. She says that she will prepare jour¬

nal entries for June from some rough notes she has kept but that she will need some assistance in establishing the running balance form of ledger accounts. The T ac¬

counts reflecting all June transactions are as follows:

Instructions a Transfer the information shown by the T accounts to ledger accounts of the three-column running balance form.
b Prepare a trial balance at June 30 from the ledger accounts completed in part a.

Transcribed Image Text:

Cash 1 Tennis Equipment 25 6/2 35,000 6/4 21,600 6/7 1,240 6/18 212 6/13 650 6/23 650 Office Supplies 9 6/8 212 6/4 25,200 Land 20 20 Notes Payable 30 6/4 75,600 Accounts Payable 31 6/18 212 6/7 1,240 6/23 650 6/8 212 6/13 650